217 SFR Portfolio in TX & GA

[Damion York]

Purchase price of the portfolio is $23,177,000. 

This is a privately owned portfolio of 217 residential properties in Dallas, Houston and Atlanta....Price on this portfolio is tight.
The seller would prefer to sell this as a portfolio, but he will sell it by city, either all Houston, all Dallas or all Atlanta.
The seller has owned many of these properties around 20 years and in some of the properties in excess of 30 years.
The seller will consider seller financing with a fully qualified buyer. The down payment from the buyer to be 30% (buyer to provide a bank statement for the 30% down payment).
This portfolio could be a great investment or the federal eb5 buyer. The eb5 program was instituted by the federal government to increase investment with an immigrant visa program.
Some of the properties have home owners associations.
The gross income is $1,638,011.
Occupancy rate is in excess of 90%.
The approximate net operating income is $1,228,508.
The approximate cap rate is 5.3%.
Buyer to verify all facts and figures.

Of the 217 properties:

Houston (178 properties) the average year built 1969, average monthly rent $1,033, average square footage 1,400
dallas (6 properties) the average year built 1948, average monthly rent $727, average square footage 1,131
atlanta (33 properties) the average year built 1978, average monthly rent $846, average square footage 1,310