925 South Theobald Street, Greenville, MS

13.72% return

SP: $600,000

Video Photos Street View Map

The slide show is now full screen. Push Escape to exit. You can use the left/right arrows and Home/End buttons to navigate the images.

Property Description

BEAUTIFUL APARTMENT COMPLEX!!!

20 x 2bed/1bath units. Only $30k per door!! Each unit easily rents for $575 per month. Separate Electric Meters. City Water & Sewer. Central Heat & Air. Property will generate a 13.72% NET RETURN ON INVESTMENT!! $175K IN INSTANT EQUITY!!! Nice longterm tenants. Tons of rental demand in the area. Great long term hold!

Property management and financing is available.

Property Information

Listing statusSold
Property typeMulti Family
Total units20
Total bedrooms40
Total bathrooms20
Building size15000 sq. ft.
Lot size0.6 acres
Year built1979

CountyWashington County
Subdivision
ConstructionFrame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingCentral
CoolingCentral air

Property Financial Summary

Sale price$600,000
Estimated rehab¹$25,000
Total investment$625,000

TypeProforma
After repair value$800,000
Potential profit$175,000

Gross income (annually)$138,000
Operating expenses (annually)$52,256
Net income (annually)$85,744
Gross return22.08%

Gross income (monthly)$11,500
Operating expenses (monthly)$4,355
Net income (monthly)$7,145
Net return13.72%

Property Income & ExpensesMonthlyAnnual

Income

Unit 1: 2 bed / 1 bath$575/month$6,900/year
Unit 2: 2 bed / 1 bath$575/month$6,900/year
Unit 3: 2 bed / 1 bath$575/month$6,900/year
Unit 4: 2 bed / 1 bath$575/month$6,900/year
Unit 5: 2 bed / 1 bath$575/month$6,900/year
Unit 6: 2 bed / 1 bath$575/month$6,900/year
Unit 7: 2 bed / 1 bath$575/month$6,900/year
Unit 8: 2 bed / 1 bath$575/month$6,900/year
Unit 9: 2 bed / 1 bath$575/month$6,900/year
Unit 10: 2 bed / 1 bath$575/month$6,900/year
Unit 11: 2 bed / 1 bath$575/month$6,900/year
Unit 12: 2 bed / 1 bath$575/month$6,900/year
Unit 13: 2 bed / 1 bath$575/month$6,900/year
Unit 14: 2 bed / 1 bath$575/month$6,900/year
Unit 15: 2 bed / 1 bath$575/month$6,900/year
Unit 16: 2 bed / 1 bath$575/month$6,900/year
Unit 17: 2 bed / 1 bath$575/month$6,900/year
Unit 18: 2 bed / 1 bath$575/month$6,900/year
Unit 19: 2 bed / 1 bath$575/month$6,900/year
Unit 20: 2 bed / 1 bath$575/month$6,900/year
Total$11,500/month$138,000/year

Expenses

Waste Collection$130/month$1,560/year
Water bill$800/month$9,600/year
Property Taxes$533/month$6,396/year
Insurance$958/month$11,500/year
Property Management$1,100/month$13,200/year
Maintenance reserve$833/month$10,000/year
Total$4,355/month$52,256/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.