OFF MARKET VALUE ADD!!!
$2.7M Purchase price.
Minutes from Arkansas State University, the second largest university in the state of Arkansas, this 41 unit complex (6 are being renovated/to be complete Jan 1) is a great investment for a seasoned investor or the first time commercial real estate investor. Rents are well below market for this area. Along with 3 vacancies and 6 newly renovated units, end buyer can add value, raise cashflow and force depreciation within the first year. This is a quiet and very well kept, managed property. Once vacancies are filled, investors will enjoy a 16.8% Cash on Cash return. Property has been managed by current owner the last 10 years. This property is under contract with seller and is set to close February 2nd. Contract will be assigned to end buyer. EMD is 50k. Assignment fee is included in purchase price. Please contact me for financials or if you have any more questions.