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Shequann Burrwell
  • Wholesaler/rehabber
  • Arcadia, FL
22
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341
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kentucky deal in the works

Shequann Burrwell
  • Wholesaler/rehabber
  • Arcadia, FL
Posted Oct 1 2013, 14:10

7 buildings (76 units total) all located in the Norfolk apartment community *rehab & reposition *Value add

After rehab you can refinance all your initial down payment out! ZERO actual cash investment and it will still cash flow well!!

Google map overview of area:

- 2003 Landing (20 units) *recent fire, half vacant, dated interio rs, low rent
- 4004 Newport (8 units) *2 units gutted, drainage issue, dated interiors, low rent
- 4305 Newport (6 units) * fully occupied, in "decent condition", low rent
- 4303 Newport (6 units) * fully occupied, in "decent condition", low rent
- 4913 Cawood (6 units) *fully occupied, in "decent condition", low rent
- 4919 Cawood (12 units) * completely vacant, total rehab required
- 4307 Norbrook (18 units) *in need of several cosmetic rehab elements, low rent

Asking price $1.5M *can get for $1.3M*

I have several recent sales comps ($35k - $40K per door appraisal value). have rent rolls from june available as well a repair budgets