New Orleans Quadplex Cash Cow - $3256/mo, 30% ROI Off Market Deal
Actual rents are listed and slightly below market. Can be raised to $850-895 plus water. One of the tenants just moved out so the seller is making improvements now. Already have a tenant wait-list formed, so after completing repairs we will have occupancy (1-2 weeks tops).
Building is in excellent shape. I personally visited each unit and have leases, home inspection report, and appraisal on hand for the right buyer. Area is not in flood zone or was even affected by Katrina.
We can connect you with a local bank with favorable financing (4.375% with 25% down).
Electricity is separately metered (tenants pay).
Fridge and Range convey in decent condition.
Roof replaced in 2005 and has 10+ more years.
Central HVAC systems in good condition.
All have washer / dryer hookups, tenants furnish their own.
Landlord pays water, roughly $300/mo. should be billed back to tenants upon sale.
Insurance roughly $3200 annually for hazard and liability.
Property management can be found for 7-10%
Your cash on cash easily 30%+