Updated over 4 years ago on . Most recent reply
Wholesaling- 43% Cash on Cash - 5 Unit "Class C" Apartment
This 5 unit building is in a stable community with growth potential, near historic landmarks and walking distance from the downtown area. This project has an attractive unit-mix of one to four bedroom units and is currently 100% leased.
The conservative "as is" market value of this project is approximately $230k, so this purchase will yield instant equity. Rents are under market with the potential to increase by a minimum of 5% and as much as 10%.
The building has little deferred maintenance making it a turnkey project for immediate cash flow. Raise rents and bill back utilities allows potential to increase the net operating income. The resulting re-positioning can create an asset that provides cash flow, growth in equity and tax benefits.
Please feel free to message me if you have interest. Seller is motivated.