19 condo units in same complex for sale in Jacksonville, FL *Off-Market** all rented

[Adam Gerig]

Just got this dumped into my lap this afternoon. 19 units that currently gross almost $12k/month and net a little over $5600 after taxes and HOA dues. I think the rents are lower than they could be on some of the units. It's a mixture of 3bds/2bds/1bds wit that mix being as follows: 3bds-3, 2bds-13, 1bd-3. The 3bds & 2bds both have 2 baths as well.

Owner would sell on contract with 50% down they are asking $964,400 with is a little over $50k/unit there is another group of 20 for sale on loopnet right now in the same complex for $56/unit.  20 units currently for sale in same complex

I think it could be had for $40k/unit which would be about a 9% cap based off the numbers I've been provided.  Although you'd have to account some for insurance and maintenance which they did not let me know about.  From the pictures I've seen on the internet they all look like pretty good units in a good area.

I do NOT know this market, but for someone that does I may be able to help you get a pretty good deal especially if you were managing yourself.  If you want more information I can send you the excel spreadsheet I was provided, but I will be taking out the actual unit #'s to protect myself in the case someone trying to cut me out of the deal.  If you know someone let me know!  Thanks!