Updated about 9 years ago on .
Class B 450 unit apartment complex in Fort Wayne, IN 95% occ
Net operating income last year was $2,108,139. Current price tag is a 7.9% cap rate, but think you can buy closer to 9% cap. At a 9% cap rate cash on cash return on a 30 year fixed loan at 5% interest would be over 20%. I've got the financials and on top of helping you purchase am a certified apartment manager with over 12 years of experience in multi-family housing. I think numbers could be better as some administrative costs could be saved as well.
If you have $4 million to put down now is the time to put your money to work. Definitely some value add opportunities with this property as well. PM for details.
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