Looking at the following 8 Plex

[Mark NA]

Hi all looking at a 8 plex . I have not yet contracted. Though i expect to contract for $255,000 Details follow.

8 plex renovated in 2006 and 2007: new roof, all apartments new carpet, painted, new windows, new lighting fixtures, new kitchen cabinets and appliances.

4 two bedroom and 4 one bedroom all with w/d hookups

Currently 100% occupancy with 1 year leases.

Sheduled gross income $3300/month
taxes and insurance $2500
estimated maintenance $1800
all apartments on separate water and electric
long time handyman on premises gets rent reduction for service. All ready calculated in schduled gross income.

I currently live in the building and the area is descent. I will manage my self. Mostly middle and lower economic people. Only 5 mins to US Army Post the major employer for area. Close to shopping and schools.

Estimated cash flow $900/month

Your thoughts would be greatly appreciated

Mark