170 door single family portfolio for sale

For Sale!!! Seller financing opportunity - 20% down + 80% wrap note or 75% down and 25% carryback - 170 door single family portfolio in Lubbock, Texas (home of Pat Mahomes and TTU Red Raiders)!!!
- This is a class C portfolio. All all homes over 50 yrs old and in poor, working class areas): 7903, 79404, 79411, 79412, 79415.
- 8 CAP - VALUE ADD!!!
- Price = $13,000,000, GI = $1.71M, Exp = 40%, NOI = $1.026M.
- Mostly single family but a few duplexes, one triplex, and one fourplex.
- VALUE ADD: 1) Increase rents 20%-30% by renting to sec 8 tenants or 2) sell w/ seller finance and increase value by 30%.
- I spent the last 5 years and well over $1,000,000 updating and stabelizing. Occupancy between 92%-95%, We collect on 98% of tenants, we average less than 1 eviction per month.
- I self manage with a lean mean management team (willing to stay on after the sale). Every aspect of the business is systematized and automated: 1) Leasing, 2) Collections, 3) Mainteannce/Make Ready's, 4) Bookkeeping, SOP's!! This is as turnkey an operation as you will find.
- All properties were purchased between 2014-2020 either one at a time or in small groups.
- Most were Bought, Repaired ($10K-$20K reno budget), Rented, Refinanced, and Rinsed and Repeated (BRRRRRRR).
- I may consider selling in chunks 10, 20, 30, 40, or 50 etc.
- I will consider seller finance w/ 20% down or 75% down and 25% carryback.
- Message me for list of properties ...

Location:

1234 , Lubbock , TX 79412