$35,000 Multi-Family - Great Investment Opportunity

[Jason Richardson]

7 Bed / 7 Bath / Multi-Family / 4656 SqFt

Elkhart, IN

We have a great investment opportunity here, which needs moderate work, but will provide an excellent return on your investment. Property is a full two stories tall, large porch on the front, rear apartment access for both floors, and a detached 4-Car garage. It has a full-sized basement (block wall), and the foundation is structurally sound. There is some fire damage in a few rooms, but can be easily fixed/replaced and doesn't affect any major structural supports. Roof is sound with no visible leaks. This property is located in a neighborhood that has been seeing a consistent rise in values, and is close to downtown and amenities.

Here are the estimated numbers, as a cash-flow property:

Monthly Income - $5300

Yearly Gross Income - $63,600

Yearly Taxes - $2000

Yearly Insurance - $2000

Yearly Management Fee & Maintenance Cost - $11,660

8% Vacancy - $5298

Yearly NOI - $43,142.12

Est. Rehab Cost - $200,000

Est. Closing Cost - $1000

All-In Cost - $236,000 (including rehab)

ARV - $300,000+

FOR ONLY - $35,000

This deal won't last long. Contact us now!

Property Code: 913SME

Professional management and rehab services are available, and optional. Serious cash buyer inquiries only please. Buyer pays their side of closing costs (included in above estimate). We cannot guarantee the returns shown above, as these are estimates based on our due diligence. We recommend all buyers do their own due diligence prior to purchase.