All Forum Posts by: Nicholas Varner

@Nabeel Haider this one has sold, but I do have other opportunities. 

Get them while they last, a fourth quad is going into contract today. There's only three quads and triplex left. One loan, four rent checks. 

will do

In 2016, this building brought in a profit of 28K+. All windows, roof, furnaces, and hot water tank have been updated. This fully occupied property is a passive investment. HWPG will manage this well maintained C class apartment building.  Covered parking for residents. Separate electrical, gas meters for tenants. Financials are available upon request. Asking price is 425K, seller financing is available, inquire for terms. 

Use the BRRR method in slow motion. Currently fully occupied 8 unit property has a ton of potential. 6-1 bedroom units and two store fronts on a busy street make this brick building a steal.

With updates to the 1 bedroom units, rents could easily go to $625/unit. Turn this over as slow or quickly as you want. The building appraised for 265K in 2013. Appreciation in the area has happened since then, but this owner is ready to retire and the price has dropped to 259K. Inspection report is available. 

This B class triplex is listed for $94,000. There is a $4600 escrow account with the city of Cleveland Heights. This is like a deposit for repairs mandated by the city. You will get the $4600 back from the title company once repairs are made.

This property requires a cash as is offer. This is a fully occupied non-conforming triplex. When it last hit the market it was under contract in under an hour. However, just before closing, the underwriter cited that the third floor unit is an auxiliary unit. This meant that given Freddie Mac/Fannie Mae guidelines that it would not qualify for a conventional loan. The title work is all complete. This property just needs a new cash buyer. I represent the seller on this property. Make your highest and best offer "as is" cash offer based on the attached inspection report. 

The tenants are long term, have jobs, pay rent, and keep their units looking good. Deposits to be transferred at closing, rents pro rated. POS report available. Letter from the city of Cleveland Heights stating it's legal to rent as a three unit is available. Inspection report available. Pro forma available. @James Wise this is a home run! 

Another great Commercial Property brought to you by the Holton Wise Property Group! This 1961 built 9-unit building is fully occupied property is located in a C+ grade neighborhood. It has long-term tenants that take very good care of their units. Many updates throughout the property. Contact me for even more information on this property. @James Wise thinks this one will fly off the shelf! This one will go quick, bring offers! 

Rent Roll available upon request. Proformas current and potential available. Conventional/Seller financing are all available. Bring term offers. Offers must include at least 40% down. Amortization and balloon payments are negotiable.

Financials:

• Asking price $425,000
• Square feet 12,253
• Using conventional financing 6.6% cap rate could be much higher using seller financing option

• Roof is 7 years old
• Owner owns all appliances except unit 5 refrigerator
• Windows (Alside) 3 years old
• Hot water tank 4 years
• Motion sensing lights 1 year old
• Furnaces in units 5 years
• Electrical panels in unit all updated
• gas lines to the house 2 years old
• water shutoff updated
• Coin laundry $30/month income
• Owner pays sewer $600-800/Quarter
• Owner pays water $450-500/Quarter
• Leaf guard gutters 4 inch plastic 2 years old
• Insurance $3000/year
• Electric $60/month
• Gas $60/month hot water
• Leases are month to month
• Indoor parking
• Separately metered gas/electric for each tenant
• More pictures available upon request
• Located right next to beautiful Metroparks 

This looks like a win win deal for both buyer and seller. On to the next! 

Fully occupied brick double in B class neighborhood. Holton Wise Property Group professionally manages this property. Cash flow this property for 25% down using a conventional mortgage. Performs at an 8 cap. 

Completely gut renovated. Tenants have been in the property for over 1 year. Get it while it last. Under professional property management through Holton Wise Property Group already. buy this home for 15% down using a conventional loan.