"Reduced 12 unit complex, asking $269000, Cash Price OBO.
9720 SF, 2/1 X 12, brick, Central HVAC, .71 acre lot w/paved parking. Complex is fenced with park in rear. $395K tax value, $5-7K rehab (3 vacant units)
currently 9 of 12 units are rented (8 @ $465 and 1 @ $485). 2 are 100% Section 8.
2010 taxes $9577
2010 water $4982 (included in rent)
18% CAP RATE AFTER TAXES, INSURANCE, WATER"
Zillow shows it for sale at $275K, but no estimate given. Totalview has no info either except tax assessed in 2009 is $395K.
Does this sound like a deal that you seasoned guys would make an offer on?
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Everything works out in the end. If it hasn't worked out, it's not the end.
You have not lived a perfect day, unless you have done something for someone who will never be able to repay you. Ruth Smeltzer
This was just sent to me:
"Reduced 12 unit complex, asking $269000, Cash Price OBO.
9720 SF, 2/1 X 12, brick, Central HVAC, .71 acre lot w/paved parking. Complex is fenced with park in rear. $395K tax value, $5-7K rehab (3 vacant units)
currently 9 of 12 units are rented (8 @ $465 and 1 @ $485). 2 are 100% Section 8.
2010 taxes $9577
2010 water $4982 (included in rent)
18% CAP RATE AFTER TAXES, INSURANCE, WATER"
Zillow shows it for sale at $275K, but no estimate given. Totalview has no info either except tax assessed in 2009 is $395K.
Does this sound like a deal that you seasoned guys would make an offer on?
Everything works out in the end. If it hasn't worked out, it's not the end.
You have not lived a perfect day, unless you have done something for someone who will never be able to repay you. Ruth Smeltzer
It is what it is 'til you change it.