15.49% Cash on Cash-6 Unit Apts-Bremerton, WA w/ Seller Financing

[Arthur Bates]

Assignment available for an apartment complex purchase comprising of three separate buildings totaling 6 units. This property is located in an family friendly neighborhood with access to Downtown Bremerton, Public Transit and Ferry Terminal. Apartments are currently 100% leased.

The building itself has little deferred maintenance making this a turnkey project poised for immediate cash flow distributions. New roof and new paint within the past three years. Rents are currently under market with the potential to increase rents immediately by a 3%-6%. The building also has non-leased on-site Laundry for extra income.

Just adding management, raise rents and billing back utilities increase the value cash flow immediately. The resulting re-positioning will create an asset that provides both cash flow and positive equity growth.

Terms of the Deal.

The Owner is willing to take back 80% in short term seller financing at an interest rate of 4.75% with a cash out payment in 5 years. With these terms the Cash on Cash (CoC) is 15.49%, however with just billing back utilities with a 4% rent increase will boost the CoC percentage to 19.78% with an Annual Net Income of $32,549.27.

With the adjustments in raising cashflow, this property will be positioned perfectly for Cash-out Refinancing. Pull your initial 20% investment out and watch the infinite return flow in.

Please contact me form more information. Interested parties must sign a NDNC Agreement for details and location of the property.