Cash Buyer Looking for 50+ unit apartment complex

[Wendell De Guzman]

Hey BP Nation,

I'm a cash buyer looking for a 50+ unit apartment complex with the following requirements:

1) 8% cap or higher (based on actual CURRENT financials NOT pro-forma)
2) 80% occupied (economic) so there's upside potential for me or rent has to be 10-20% below market (again, so there's upside potential)
3) not older than 60 years old (if it is older, has to be renovated in the past 20 years)
4) in a B or worse, C area (see definition below
5) can NOT be listed on the MLS or in Loopnet
6) area has to be growing in terms of population (not declining)
7) 100 unit+ preferred but I can work with 50+ units too

If you have this apartment complex I am looking for, shoot me an email at [email protected]