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Updated almost 9 years ago on . Most recent reply

Charles A.'s profile image
Charles A.'s profile image
Charles A.
  • Rental Property Investor
  • from Jacksonville, FL
  • Member since Sep 7, 2015
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Charles A.'s profile image
Charles A.'s profile image
Charles A.
  • Rental Property Investor
  • from Jacksonville, FL
  • Member since Sep 7, 2015
Connect
Charles A.
  • Rental Property Investor
  • Jacksonville, FL
282
Votes |
205
Posts
Real Estate Deal Analysis & Advice

Beach Quadruplex

Charles A.
  • Rental Property Investor
  • Jacksonville, FL
Posted

We are under contract for 7 blocks of quadruplexes.

28 units 

Contract sales price=$1,575,000

Appraised value=$1,700,000 (real appraisal done 01/16)

NOI=$156,000

Average cap for area =7%

current average rents per unit $650

Comparable rents=$750/unit

This is a value play rather than for immediate cash flow which is not particularly impressive as COC return is in the 3% range per bigger pockets rental calculator.

What do you think?

  • Charles A.
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