Great Deal Alert $1,000,000 - 4-Plex
This one could be spectacular. The only caveat is that it is on the MLS, so there will no doubt be a bidding war. They are asking an absurd $579K, but if you pay $1 Million (you might even want to pay more) and you spend $125K to renovate and $50K to vacate the two remaining tenants (two will be delivered vacant) you are now ‘all in’ at about $1.2 Million. By my estimate, you will then have about $10,600/mo of income. After all expenses, that should leave you with more than $4K/mo of cash flow, or a whopping 16% cash on cash return, on a very upside property.
Only chance to see inside is this Saturday the 23rd from 1-4pm. Let me know if you want my help to get it.