Updated almost 8 years ago on . Most recent reply
Investors Wanted for Wisconsin Multifamily Deal
We have our first deal under contract. Looking for experienced investors who are interested!
- 8-unit multifamily property in a highly desirable location in Western Wisconsin near schools and hospitals
- 6 off-street parking spots
- On the bus route
- Onsite coin washer and dryer
- Pets allowed for additional monthly fees (hard to find in this area)
- All units remodeled since 2010
- Exposed brick and lots of natural light in majority of apartments
- Over $40,000 in exterior improvements and masonry work done in 2016
- 0% vacancy the past 3 years
- 1 x 2 bedroom, 5 x 3 bedrooms, 2 x 4 bedrooms
- Rental Income: $8440.00 per month = $101,280 annual gross operating income
- Yearly Estimated Expenses Breakdown (2017)
- Vacancies: 5% or $5064 per year
- Taxes: $13,765.97 per year
- Maintenance: $6300 per year
- Lawn/Snow: $500 per year
- Garbage: $1850 per year
- Water/Sewer: $2128 per year
- Insurance: $3109 per year
- Utilities: $2841 per year
- Total: $35,557.97 annual expenses or $2963.16 per month
- Net Operating Income: $101,280 - $35,557.97 = $65,722.03 annual or $5476.84 per month
Looking for a private investor to partner up with 20% of the purchase price.
Contact us for more details and terms.
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