*** ********* ***, ********, TN
14.79% return
SP:
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Property Description

Nice rentals!

14 apartments. 5 duplexes on one parcel and a quadplex on the other. All units are 2bed/1bath. Properties are fully occupied but rents need to be increased. Apartments are in great shape, most have been recently renovated. Separate electric and water meters. City water and sewer. Tons of potential.

Management and financing are available. 

Property Information

  • Listing statusSold
  • Property typeMulti Family (2 properties)
  • Total units14
  • Total bedrooms28
  • Total bathrooms14
  • Building size12600 sq. ft.
  • Lot size1.3 acres
  • Year built1986
  • County******** County
  • Subdivision********** *********
  • ConstructionFrame
  • RoofAsphalt Shingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingCentral
  • CoolingCentral air

Property Financial Summary

  • Sale price$420,000
  • Estimated rehab1$0
  • Total investment$420,000
  • TypeProforma
  • Gross income (annually)$89,400
  • Operating expenses (annually)$27,293
  • Net income (annually)$62,107
  • Gross return21.29%
  • Gross income (monthly)$7,450
  • Operating expenses (monthly)$2,274
  • Net income (monthly)$5,176
  • Net return14.79%

Property Income & Expenses

  • Income
  • *** ********* ***, Duplex #1
  • Unit 1: 2 bed / 1 bath$525/month$6,300/year
  • Unit 2: 2 bed / 1 bath$525/month$6,300/year
  • *** ********* ***, Duplex #2
  • Unit 3: 2 bed / 1 bath$525/month$6,300/year
  • Unit 4: 2 bed / 1 bath$525/month$6,300/year
  • *** ********* ***, Duplex #3
  • Unit 5: 2 bed / 1 bath$525/month$6,300/year
  • Unit 6: 2 bed / 1 bath$525/month$6,300/year
  • *** ********* ***, Duplex #4
  • Unit 7: 2 bed / 1 bath$525/month$6,300/year
  • Unit 8: 2 bed / 1 bath$525/month$6,300/year
  • *** ********* ***, Duplex #5
  • Unit 9: 2 bed / 1 bath$525/month$6,300/year
  • Unit 10: 2 bed / 1 bath$525/month$6,300/year
  • *** ********* ***, Quadplex
  • Unit 1: 2 bed / 1 bath$550/month$6,600/year
  • Unit 2: 2 bed / 1 bath$550/month$6,600/year
  • Unit 3: 2 bed / 1 bath$550/month$6,600/year
  • Unit 4: 2 bed / 1 bath$550/month$6,600/year
  • Total$7,450/month$89,400/year
  • Expenses
  • Property Management$560/month$6,720/year
  • Property Taxes$781/month$9,373/year
  • Insurance$350/month$4,200/year
  • Maintenance reserve$583/month$7,000/year
  • Total$2,274/month$27,293/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

Q: Why is the property address and location information hidden?
A: This property is a premium property and is completely off-market. Full access is available to premium clients only. If you are not a premium client, we require to have an executed non-disclosure agreement on file in order to share the property details with you.

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