'Off-Market' Mid Sized Apartment Complex - Big Spring, Texas

[Brandon Hiett]

I am excited to announce that this is the first time I am posting an investment opportunity on the BiggerPockets marketplace!

Since this opportunity is 'off-market', I go through a little different process than the typical listing you're probably used to seeing on Loopnet or from your local broker. If you're a qualified buyer I will have you sign a non-circumvent and non-disclosure agreement as well as a fee agreement. Upon receipt of these documents I will send you all financials (T-12, P&L, etc...) and updated/current rent rolls - this enables you to analyze the deals thoroughly and quickly make a decision whether you'd like to pursue a deal or not.

I look forward to seeing the response from the community!

The Play: Subject property is in the process of being re-stabilized. Currently is at 80% occupancy and can easily fill units. Bring up rents to market and renovate ~25 units that have no been brought up to date. **depending on the debt you put on the property, can achieve 20-35% CoC returns**

Please find enclosed New Details of a Class C Multi Family property located in Big Spring, Texas.

Location: Big Spring, Texas

Type: Multi Family

Units: ~50 - 75 Units

Year Built: ~1970

Occupancy: 80%

Class: C

NOI: 200K (based on annualized T3) (NOI - 270k based on proforma)

Debt: Delivered Free & clear

Cap: 10-12% (based on annualized T3)

The asking price is $1,900,000 + 3% Buyer fee...We believe we can get this delivered at $1.8MM

We can supply complete financials and a rent roll upon receipt of our NCND / Fee Agreement. 

Best,

Brandon Hiett