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Forums » Bulk REO Discussion and REO Dealmaking » Lender Owned Multi Family

Lender Owned Multi Family Subscribe to Lender Owned Multi Family

4 posts by 3 users

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Tag Tags: investment multi-family-income-apartment


Brooke Bailey

Residential Real Estate Broker · Murrieta, California


Forum_avatar_avatar-brookebai7

Jan 24 '10, 06:33 AM

If you have a investor looking to make income and equity this is it. Property located in Fresno California.

Investment Highlights

Lender Owned
Significantly Below Replacement Cost
Occupancy 95% Average over last 3 Months
Low Density (14 units per Acre)
Year Built 1971-1979
Recent Major Exterior & Interior Renovations
Approximate Cost $6.6 Million ($15,789 per unit) 2005-2007
Approximately 90 % of units have been upgraded
Price $24,500,000
Price per unit $58,617
Building Configuration Two Story
70 Buildings
30 Acres--- Average unit size 996 Sq Ft
Current Market Rent GSI $3,961,441
Adjusted Gross Income $3,331,572
Net Operating Income $1,979,907
Stabilized Market Rent
Gross $4,080,284
Adjusted Gross Income $3,480,483
Net Operating Income $2,091,932
Extensive Amenities
14 Acre wooded Green Belt
In the heart of the city, Major Street Frontage
I have full description of all units, and current rents

Edited: 06/26/2010 at 11:21AM


George Beale

Real Estate Investor · Manassas, Virginia


Forum_avatar_avatar-georgeb

Jan 24 '10, 08:33 AM

Brooke:

Are these condos or apartments? Either way I would possibly have an interested party, but want to be sure on what they are.

Edited: 06/26/2010 at 11:21AM


Brooke Bailey

Residential Real Estate Broker · Murrieta, California


Forum_avatar_avatar-brookebai7

Jan 25 '10, 12:59 AM

They are Apartments and if you have someone you better hurry, I have a lot of people looking at this

Edited: 06/26/2010 at 11:21AM


Kristian Peter

Real Estate Consultant · San Diego, California


Forum_avatar_avatar-kristian

Jan 26 '10, 04:58 PM

Let me know if you have any other multi-family in Southern CA - we have an investor who buys anything that makes sense from LA to Mexico. Thanks!

KP

Edited: 06/26/2010 at 11:23AM




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