Value Add Apartments
*** ********* ***, ********, OK
12.52% return
SP:
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Property Description

Amazing investment. 

10 unit apartment complex with retail space. Units are fully rented and retail space is used as storage. Solid brick structure with a new roof. Potential to increase rents with minor cosmetic improvements as renters move out. On-site manager. Completely turnkey. No deferred maintenace. Great area with expensive homes across the street. Mixed-use zoning. Retail space can be rented to a hemp shop or any similar business for additional income. Originally built as a motel. Lots of industry in town. Do not miss out.

Property Information

  • Listing statusSold
  • Property typeMulti Family
  • Total units10
  • Total bedrooms4
  • Total bathrooms10
  • Building size56796 sq. ft.
  • Lot size0.2 acres
  • Year built1964
  • County******** County
  • Subdivision********** *********
  • ConstructionBrick
  • RoofAsphalt Shingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingWall unit
  • CoolingWALL/FLOOR FURNACE

Property Financial Summary

  • Sale price$300,000
  • Estimated rehab1$0
  • Total investment$300,000
  • TypeProforma
  • Gross income (annually)$60,000
  • Operating expenses (annually)$22,438
  • Net income (annually)$37,562
  • Gross return20.00%
  • Gross income (monthly)$5,000
  • Operating expenses (monthly)$1,870
  • Net income (monthly)$3,130
  • Net return12.52%

Property Income & Expenses

  • Income
  • Unit 1: studio / 1 bath$500/month$6,000/year
  • Unit 2: studio / 1 bath$500/month$6,000/year
  • Unit 3: 1 bed / 1 bath$500/month$6,000/year
  • Unit 4: studio / 1 bath$500/month$6,000/year
  • Unit 5: 1 bed / 1 bath$500/month$6,000/year
  • Unit 6: studio / 1 bath$500/month$6,000/year
  • Unit 7: studio / 1 bath$500/month$6,000/year
  • Unit 8: 1 bed / 1 bath$500/month$6,000/year
  • Unit 9: studio / 1 bath$500/month$6,000/year
  • Unit 10: 1 bed / 1 bath$500/month$6,000/year
  • Total$5,000/month$60,000/year
  • Expenses
  • Electric bill$333/month$4,000/year
  • Gas Utility Bill$202/month$2,421/year
  • Water and Sewer$184/month$2,206/year
  • Waste Collection$92/month$1,104/year
  • Pest Control$37/month$438/year
  • Lawn care$30/month$365/year
  • Property Taxes$127/month$1,522/year
  • Insurance$249/month$2,982/year
  • Property Management$200/month$2,400/year
  • Maintenance reserve$417/month$5,000/year
  • Total$1,870/month$22,438/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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