Turnkey Rentals
*** ********* ***, ********, MS
13.38% return
SP:
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Property Description

Amazing opportunity!!

27 units. 3 quads and a 15 unit apt complex. 12 x 2bed/1bath units in the quads, 13 x 2bed/1.5bath units, 1 x 3bed/2.5bath, 1 x 1bed/1bath in the apartments. Newer construction, built in 1998-1999. All brick, nice metal roofs, central heat and air, separate electric meters, city water and sewer. Beautiful town. Great condition. Completely turnkey. Property will generate a 13%+ net return on investment. 

Professional management in place. Financing is available. 

Property Information

  • Listing statusActive C
  • Property typeMulti Family (2 properties)
  • Total units41
  • Total bedrooms(unknown)
  • Total bathrooms(unknown)
  • Building size(unknown)
  • Lot size1.6 acres
  • Year built1998 - 1999
  • County******** County
  • Subdivision********** *********
  • ConstructionBrick
  • RoofMetal
  • Water sourceCity water
  • Water disposalSewer
  • HeatingCentral
  • CoolingCentral air

Property Financial Summary

  • Sale price $1,250,000
  • Estimated rehab 1 $0
  • Total investment $1,250,000
  • Type Proforma
  • Gross income (annually) $228,600
  • Operating expenses (annually) $61,329
  • Net income (annually) $167,271
  • Gross return 18.29%
  • Gross income (monthly) $19,050
  • Operating expenses (monthly) $5,111
  • Net income (monthly) $13,939
  • Net return 13.38%

Property Income & Expenses

  • Income
  • *** ********* ***, Apartments
  • Unit 1: 2 bed / 1.5 bath $750/month $9,000/year
  • Unit 2: 2 bed / 1.5 bath $750/month $9,000/year
  • Unit 3: 2 bed / 1.5 bath $750/month $9,000/year
  • Unit 4: 2 bed / 1.5 bath $750/month $9,000/year
  • Unit 5: 2 bed / 1.5 bath $750/month $9,000/year
  • Unit 6: 2 bed / 1.5 bath $750/month $9,000/year
  • Unit 7: 2 bed / 1.5 bath $750/month $9,000/year
  • Unit 8: 2 bed / 1.5 bath $750/month $9,000/year
  • Unit 9: 2 bed / 1.5 bath $750/month $9,000/year
  • Unit 10: 2 bed / 1.5 bath $750/month $9,000/year
  • Unit 11: 2 bed / 1.5 bath $750/month $9,000/year
  • Unit 12: 2 bed / 1.5 bath $750/month $9,000/year
  • Unit 13: 2 bed / 1.5 bath $750/month $9,000/year
  • Unit 14: 3 bed / 2.5 bath $750/month $9,000/year
  • Unit 15: 1 bed / 1 bath $750/month $9,000/year
  • *** ********* ***, Main Building
  • Unit 100: studio / 0 bath $0/month $0/year
  • Unit 101: studio / 0 bath $0/month $0/year
  • Unit 102: studio / 0 bath $0/month $0/year
  • Unit 103: studio / 0 bath $0/month $0/year
  • Unit 104: studio / 0 bath $0/month $0/year
  • Unit 105: studio / 0 bath $0/month $0/year
  • Unit 106: studio / 0 bath $0/month $0/year
  • Unit 107: studio / 0 bath $0/month $0/year
  • Unit 108: studio / 0 bath $0/month $0/year
  • Unit 109: studio / 0 bath $0/month $0/year
  • Unit 110: studio / 0 bath $0/month $0/year
  • Unit 111: studio / 0 bath $0/month $0/year
  • Unit 112: studio / 0 bath $0/month $0/year
  • Unit 114: studio / 0 bath $0/month $0/year
  • *** ********* ***, Quadplex #1
  • Unit 115: 2 bed / 1 bath $650/month $7,800/year
  • Unit 116: 2 bed / 1 bath $650/month $7,800/year
  • Unit 117: 2 bed / 1 bath $650/month $7,800/year
  • Unit 118: 2 bed / 1 bath $650/month $7,800/year
  • *** ********* ***, Quadplex #2
  • Unit 119: 2 bed / 1 bath $650/month $7,800/year
  • Unit 120: 2 bed / 1 bath $650/month $7,800/year
  • Unit 121: 2 bed / 1 bath $650/month $7,800/year
  • Unit 122: 2 bed / 1 bath $650/month $7,800/year
  • *** ********* ***, Quadplex #3
  • Unit 123: 2 bed / 1 bath $650/month $7,800/year
  • Unit 124: 2 bed / 1 bath $650/month $7,800/year
  • Unit 125: 2 bed / 1 bath $650/month $7,800/year
  • Unit 126: 2 bed / 1 bath $650/month $7,800/year
  • Total $19,050/month $228,600/year
  • Expenses
  • Property Taxes $2,134/month $25,609/year
  • Water and Sewer $1,541/month $18,492/year
  • Electric bill $336/month $4,028/year
  • Insurance (estimated) $642/month $7,700/year
  • Maintenance reserve $458/month $5,500/year
  • Total $5,111/month $61,329/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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