BiggerPockets

$120,000 in equity!

Monday, March 23

107 Catron Ct.  Oakland, CA 94603
 
Multi-family 4-Unit:  2/1   2/1   1/1   1/1
 
Wholesale Price: $238,000
After Repaired Value: $375,000
LTV - including rehab: 67%
 
Rehab: $8,000 - $12,000
Square Feet: 3,000
Vacant, Rents: $3800 a month
CAP Rate: ~ 15%
 
Recent "as-is" appraisal: $350,000
Zillow value: $450,000
Sold in 2006: $630,000
Assessed value: $655,000
 
Solid working class rental neighborhood. Inside looks great.
Vacant property, graffiti on exterior. Taxes are assessed at
$630,000. Buy and get taxes reduced by 60%.
Even with rehab costs, you're looking at a 15% CAP rate!
 
Watch video, and more info HERE

MotivatedProperties.com

Comments

1. 

   Nat Breckenridge Reply
   about 3 years ago

   Nice price, but home is ugly

2. 

   Kendrick Wright Reply
   about 3 years ago

   There are about 10 of these four-plexes at the end of this street with the exact same construction and look. It does definitely need new exterior paint, but with that it will look quite nice.

Post a Comment

Your Name:
Your Email:
	Subscribe to comments?