8-Unit Multi-Family in an OPPORTUNITY ZONE

[Parker Stiles]

For the FULL FLYER CLICK HERE

8-Unit Multi-Family in an OPPORTUNITY ZONE

3310 Florida Ave. North Charleston, SC 29405

Rare opportunity to own a multi-family complex of this size in Charleston! This property is also located in one of Trump's "Opportunity Zones." We have been working on this deal for over 14 months, and finally have control of it. All units are occupied and on paper leases! There is a property manager in place, and the "Walk Score" is 73.

All units are 2/1, around 700 SF, & on leases! One paying $750/mo and the other 7 are paying $700/mo. I believe with a little cosmetic work during turnovers you can get this renting at $800 per unit for a total income of $76,800/year. The roof was replaced in 2004. About $45,000 was invested a little while ago in new appliances, new wood on porch decking and stairs, and some other interior cosmetics.

[Rodolfo Canon]

To get the OZONE tax benefit (at least until now) Buyer must:

1. Use capital gains to invest in

2. A qualified Opportunity Fund and

3. Hold the property for five-years to increase his basis by 10% and seven-years for another 5% increase in basis and

4. Separate the value of the building from the land and "substantially improve" the building during the hold period. Basically, this means doubling its value...