All Forum Posts by: Dimitra Manou

Price $6,089,000

ARV $8,000,000

Gross Margin $2,001,000 

NOI: $218,000.00

Year built: 1960

Potential cash flow upon 100 % occupancy which will be back up shortly after the interior renovations of the last 6 houses are completed.

Package sale

Gross Rents - $ 24,400.00

Total Rents - $24,400.00 Income

+ 6 to rent out shortly + $5700.00 Added income

Total subtotal rents - $ 30,100.00

6 interior Rehabs Rents x $ 950.00= + $5,700.00 Added Incomes

Total Projected Rents - $ 35,800.00

44 projected rents@ $ 950.00 = $ 41,800.00 Gross.

6 need interior finish out of approx. - $ 9,000.00 each.

Converting 3383- A to a Laundry Matt with projected extra income of $ 5000.00 monthly.

Land size - 2.6043 Acres

Rents are below the market and can be raised to $ 950.00+ {This is what we are going to be bringing in shortly in}.

Also I have been moving the lower renters out and raising to $ 950.00.

These are great income producing properties with tenants living there for years.

When the buyer gets $ 1300.00 x 44 = $ 57,200.00 monthly x 12 = $ 686,400.00 yearly the value will be approx. $ 9+ million.

Renovation updates as follows

33 houses make ready Int & Ext paint, ceramic floor, granite tops, 3 ceiling fans $ 2500.00 each. (You can raise the rents to $ 950.00+)

6 Houses need to be completed electric, Plumbing,AC , Sheetrock etc $ 13,000.00 each .

Fill in asphalt potholes and paint . Approx. $ 5,000.00

I have the ceramic tile for the houses that come with the sale also.

Total needed to fully update total; $ 165,500.00 which a good low cost to get the higher rents etc.

Current owner has a waiting list of people ready to move in upon completion.

The houses can be sold owner financed individually to the tenants for approx $ 170,000.00 with replat for $ 100.00 each house by the surveyor that already did the metes and bounds for the individual addresses.