$1,550,000
24 Door Portfolio, Saint Louis, MO 63121
Current Rent **
$10,000+
Projected Rent **
N/A
24 Door St Louis Managed Portfolio For Sale
Fully rented and managed 24 door portfolio over 17 homes. 12 Single family homes, 4 Duplexes and one 4 plex. Performing properties owned for a long time. Owner does not need to sell but is willing to let these go to reinvest in a new business. Management will stay on if desired at current rates. Prices are firm owner will keep these if they do not sell. Many tenants are long term tenants and homes have had good upkeep and maintenance. Tenant pays expenses with the exception of the 4 unit where the numbers are reflected to the right for water, sewer, trash and maintenance. Full breakdown of unit mix and rents etc. available. Purchase must be cash and can be refinanced after or financing must be able to close in 21 days and strong financials confirmed by the lender. Showings can be arranged for qualified buyers. Owners and management take pride in these properties, they are well kept in good areas and we intend to only sell to people who will continue to run them that way. Do not disturb tenants
Overview Actual Numbers
Purchase : 1,550,000.00
Gross Rent : 16,948/Month
Taxes : 18428 annually
Insurance : 6500
Vacancy (5%) : 10,169
Water/Sewer/trash : 1500
Management (10%) : 19,321
Gross Income : $203,376
Effective Income : 193,207
Operating expenses : $45,849
NOI : $147,358
Cap Rate : 9.51%
After Cash purchase Re-Financing Scenario
75/25 Loan @ 5%
Amount financed : $1,162,500
Cash down : 387,500
Closing : 46,500
NOI : 147,358
Debt Service : 85,665
Cash flow : 61,193
Cash on cash ROI : 14.22%
-7 Day due diligence Period given with EMD/POF
-Addresses and further info can be given but tenants are not to be disturbed or notified of the sale
Contact [email protected]
Location:
24 Door Portfolio, Saint Louis, MO 63121
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** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
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