*** ********* ***, ********, OK
11.58% return
SP:
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Property Description

Great investment property! 16 units, fully occupied. Currently rented below market at $340 with potential to increase rents to $450-485 per unit. No major deferred maintenance is needed. Master water meter but water is paid by the tenants ($69 added to their $340 rent). Brand new roof installed last year. Wi-Fi throughout the building. Property is located near downtown. Friendly tenants. Many businesses within close proximity. Property management is available.

Property Information

  • Listing statusSold
  • Property typeMulti Family
  • Total units16
  • Total bedrooms16
  • Total bathrooms16
  • Building size8640 sq. ft.
  • Lot size0.5 acres
  • Year built1953 - 1983
  • County******** County
  • Subdivision********** *********
  • ConstructionBrick
  • RoofShingle
  • Water sourceCity
  • Water disposalSewer
  • HeatingWall unit
  • CoolingWall A/C

Property Financial Summary

  • Sale price $449,900
  • Estimated rehab 1 $0
  • Total investment $449,900
  • Type Proforma
  • Gross income (annually) $86,400
  • Operating expenses (annually) $34,297
  • Net income (annually) $52,103
  • Gross return 19.20%
  • Gross income (monthly) $7,200
  • Operating expenses (monthly) $2,858
  • Net income (monthly) $4,342
  • Net return 11.58%

Property Income & Expenses

  • Income
  • Building 1
  • Unit 1: 1 bed / 1 bath $450/month $5,400/year
  • Unit 2: 1 bed / 1 bath $450/month $5,400/year
  • Unit 3: 1 bed / 1 bath $450/month $5,400/year
  • Unit 4: 1 bed / 1 bath $450/month $5,400/year
  • Unit 5: 1 bed / 1 bath $450/month $5,400/year
  • Unit 6: 1 bed / 1 bath $450/month $5,400/year
  • Unit 7: 1 bed / 1 bath $450/month $5,400/year
  • Unit 8: 1 bed / 1 bath $450/month $5,400/year
  • Building 2
  • Unit 9: 1 bed / 1 bath $450/month $5,400/year
  • Unit 10: 1 bed / 1 bath $450/month $5,400/year
  • Unit 11: 1 bed / 1 bath $450/month $5,400/year
  • Unit 12: 1 bed / 1 bath $450/month $5,400/year
  • Unit 13: 1 bed / 1 bath $450/month $5,400/year
  • Unit 14: 1 bed / 1 bath $450/month $5,400/year
  • Unit 15: 1 bed / 1 bath $450/month $5,400/year
  • Unit 16: 1 bed / 1 bath $450/month $5,400/year
  • Total $7,200/month $86,400/year
  • Expenses
  • Property Taxes $259/month $3,106/year
  • Water bill $865/month $10,380/year
  • Property Management $390/month $4,683/year
  • Maintenance reserve $1,000/month $12,000/year
  • Electric bill $25/month $300/year
  • Insurance $319/month $3,828/year
  • Total $2,858/month $34,297/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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