36 Unit Apart. Complex - Yearly Net Income $91,194
5 Buildings
36 Units
1 Single Family Residence - Potential Add'tl Income $900/monthly
Unit Mix Summary
100% Occupied
36 units
28 - 1 BD/ 1 BA 600 SF 16,800 TOTAL SF
8 - 2BD/1BA 800 SF 6,450 TOTAL SF
1 - 3BD/1BA 1,000 SE 1,000 TOTAL SF
Projected Net Income : $91,194.00
Cap Rate 11.47%
Gross Monthly Income: $ 17,856
2013 Projected Annual Income: $230,400
Less 7% Vacancy allowance: $ 16,128
2013 GROSS INCOME: $214,272
2013 Projected Expenses: $123,078
(itemized expenses available upon request)
More information: http://www.investproperty-detroit.com/MPI_Group/900_Goddard.html
Annette, if you have a property like this in Columbus, Loveland or Forest Park, Ohio - I will be interested.
Wendell,
Ohio is right next to Michigan. I've been in situations where a good deal came up in an area I wasn't familiar with and I regretably passed it up. I've learned that as long as the property location is good and you have a team in place that will look after you're interests you can and should invest anywhere. The world is your oyster! We have an excellent team of property managers, attorney, title company and realtors on the ground in Michigan. We only concentrate in good, safe neighborhoods including the university district, Capac, Eastpoint and many others. Please take a look at our site for more about the area. Thanks.
