Rate this MultiFamily deal
7 duplexes and the investor wants out
C- area, most tenants are section 8
(4) 3/2/1 and (3) 2/1/1
Seller can finance, his terms: 10% down, 30 year @ 6%, 3 year balloon
Purchase price: 600,000
Appraised 10 years ago at 107,000
Has a property manager that helps "collect and deposits rent, handles leases for new tenants, schedules inspection for section 8, and finds some renters"
The owner has not raised rents in 2 years also..
These are rough numbers for the duplexes right now, I believe there is a lot of potential for force appreciation: raising rents, separate water meters, finishing garages (since section 8)