Assignment on 7 unit apartment under market value in Kona, HI
Under contract; looking to assign for 1M
based on rents and market value could be $1.2M
7 apartment units
2 bed 1 bath
current rents on avg. $1,200 (should be avg $1,400)
Rents are under priced. Rent roll shows same tenants for 4 years to over 7 years. Rent in Kona is in very high demand. All tenants are currently in a month to month agreement so can raise rents or ask them to leave and remodel and rent to new tenants. Rent could go for $1,500-1,600 with it being remodeled.
Analysis available on request.
Offering