Hi BP, Is this a good Investment? Me and my 2 partners are thinking of putting funds together for this deal in particular. I realize there are many excess expenses not listed but more or less this what i came up with being that this will be my first Large Multifamily purchase.
Fox Hall
| Price | $1,400,000 | Property Type | Multifamily |
| No. Units | 45 | Property Sub-type | Garden/Low-Rise |
| Building Size | 36,712 SF | Property Use Type | Investment |
| Price/Unit | $31,111.11 | Cap Rate | 12% |
Facts:
Scheduled Gross Income: $267,420
Scheduled Monthly Income: $22,285
Annual Operating Expenses :
*taxes - $18,706
*maintenance - $45,000
*property management - $26,742
*miscellaneous - $10,000
Estimated Expenses: $100,448
Annual Net Operating Income: $166,972
Monthly Net Op Income: $13,914.33
Description:
The Fox Hall Apartments feature 45, one, two and three bedroom units in 6, Two-Story Apartment Buildings, Plus 1, Single-Family House built in 1963 with Leasing Office and Laundry Facility. All 45 units in total are fully occupied and rented. This complex is also located a few blocks away from Clayton State University.
If Financed:
Cash Down 20% - $280,000
Financed 80% - $1,120,000
With 5% APR and 30 Year Amortization Monthly Payments are an estimated $7516.00
Cash Flow:
Monthly Income $6398.33
Annual Income $76,780.00
*** 969 Forest Ave Forest Park GA 30297
