4plex! $70,000! I pay close and diligence fees! ARV $170,000>

[Mike O.]

Hello, 

Please see offering below. It appears the links did not come through. I can email APOD, links, pictures (see additional detail below) . Title commitment just came back clean. Survey and Inspections will be complete by Aug 31st and provided at my expense. City of 200,000... great economy, diverse economy built on finance and healthcare, low unemployment <3%, low crime rate, no state income tax.

4-plex Investment Opportunity!

Offering contractual interest. I do not own fee simple title. Price includes contract fee and right to take title to the property. Title insurance, survey, structural engineer analysis, fire restoration analysis provided by seller prior to close at seller’s expense. Correspondence from insurance company confirming structure’s insurability provided upon request, correspondence from City of Sioux Falls regarding property’s eligibility for rehabilitation and exclusion from historical register provided upon request. Rehab estimate provided upon request. The property experienced a fire on 7/24/17 which impacted NE corner (rear) efficiency unit (specifically bathroom) and outside vinyl siding, tenants were given deposits and building is vacant ready for rehab to begin. Photos provided upon request. Gross rental income per operating data based on actual rent roll 2016. Vacant unit in attic with legal egress window along with electrical and plumbing can be converted as 5th unit for additional rental income. ** Please see hyperlinks for City of Sioux Falls profile and national media coverage.

Property Highlights & Pro Forma: 

Tax Assesed Value:

Land $11,000

Structure $79,000

Sales Price - $70,000
Price Per Unit - $17,500
Cap Rate – 9.84%
Cash on Cash – 8.84%
ARV - $170,000

ARV Price Per Unit - $42,500

Eligible for City of Sioux Falls $25,000 rehab loan at 3% 

Wallethub **

Wall Street Journal ** 

Forbes **

Estimated Scope of Repair Work:
New Windows and Exteriors Doors
New Siding
New Interior and Exterior Paint
Kitchen re-models with New Countertops & Appliances Bathroom re-model

New Interior Doors

New Wood Floors and Trim 

New Plumbing

New Soffit