Great Deal Alert $1,700,000 - 4-Plex
OK, I sent this one out to you all a little while ago and didn’t get so much as a nibble. I am scratching my head and wondering….why not?!!
OK, OK, let me walk you through it one more time, as this is one of the best opportunities out there, quite frankly, and one of you should buy it:
It is three 3 bed 2 baths and one 4 bed 2 bath. It will be delivered FULLY VACANT(!) and, once the renovations are completed (which, by the way, there is very little left to do – probably about $100K-worth,) and once you get tenants in there, it will fetch minimally $13,200/mo of income. The units are big – about 1250 sq ft per unit, with two car parking for each unit, good views of downtown, in unit laundry.
If you run the numbers you will see it will cash flow at about $3700/mo after all expenses, or in other words, if you are putting down 25% you will be at almost exactly 10% cash on cash return. Or, put another way, for those of you who are into cap rate, it will be a 6.16 cap. If you can find a better (or even as good) cap rate as this in any decent part of town on any decent property….. you better buy it…. fast!! But I don’t think you can.
Bottom line…. I have this opportunity available right now, and I am happy to help you grab it.