*** ********* ***, ********, AL
10.88% return
LP:
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Property Description

This property has 10 Units rented for $400 each. Brand New Shingle Roof, Separate Water & Electric Meters.

Property Information

  • Listing statusOff market
  • Property typeMulti Family
  • Total units10
  • Total bedrooms20
  • Total bathrooms10
  • Building size8680 sq. ft.
  • Lot size(unknown)
  • Year built1970
  • County******** County
  • Subdivision********** *********
  • ConstructionBrick
  • RoofShingle
  • Water sourceCity
  • Water disposalSewer
  • Heating(unknown)
  • CoolingCentral air

Property Financial Summary

  • Asking price $350,000
  • Estimated rehab 1 $0
  • Total investment $350,000
  • Type Proforma
  • Gross income (annually) $48,000
  • Operating expenses (annually) $9,911
  • Net income (annually) $38,089
  • Gross return 13.71%
  • Gross income (monthly) $4,000
  • Operating expenses (monthly) $826
  • Net income (monthly) $3,174
  • Net return 10.88%

Property Income & Expenses

  • Income
  • Unit 1: 2 bed / bath $400/month
  • Unit 10: 2 bed / bath $400/month
  • Unit 2: 2 bed / bath $400/month
  • Unit 3: 2 bed / bath $400/month
  • Unit 4: 2 bed / bath $400/month
  • Unit 5: 2 bed / bath $400/month
  • Unit 6: 2 bed / bath $400/month
  • Unit 7: 2 bed / bath $400/month
  • Unit 8: 2 bed / bath $400/month
  • Unit 9: 2 bed / bath $400/month
  • Total $4,000/month
  • Expenses
  • Property Taxes $207/month
  • Waste Collection $75/month
  • Insurance $392/month
  • Pest Control $54/month
  • Electric bill $15/month
  • Maintenance reserve $83/month
  • Total $826/month

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 the 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.

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