Value Add Portfolio
*** ********* ***, ********, AL
14.45% return
LP:
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Property Description

This is an amazing rental portfolio of 72 units. All properties are located in one neighborhood, next to each other. CBS and brick construction with separate electric and water meters. City water and sewer. Tons of population growth, high population area. Across the street from brand new apartment complex. Currently about 65% occupied with lower rents. All rents need to be raised to market and minor cosmetic improvements are needed. Financing is available. Do not miss out on this insane opportunity.

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units72
  • Total bedrooms2
  • Total bathrooms2
  • Building size46585 sq. ft.
  • Lot size(unknown)
  • Year built(unknown)
  • County******** County
  • Subdivision********** *********
  • ConstructionCBS
  • RoofShingle
  • Water sourceCity
  • Water disposalSewer
  • HeatingWall unit
  • CoolingWall A/C Units

Property Financial Summary

  • Asking price $1,550,000
  • Estimated rehab 1 $150,000
  • Total investment $1,700,000
  • Type Proforma
  • After repair value $2,000,000
  • Potential profit $300,000
  • Gross income (annually) $351,000
  • Operating expenses (annually) $105,408
  • Net income (annually) $245,592
  • Gross return 20.65%
  • Gross income (monthly) $29,250
  • Operating expenses (monthly) $8,784
  • Net income (monthly) $20,466
  • Net return 14.45%

Property Income & Expenses

  • Income
  • Unit 1: bed / bath $400/month
  • Unit 10: bed / bath $400/month
  • Unit 11: bed / bath $400/month
  • Unit 12: bed / bath $400/month
  • Unit 13: bed / bath $400/month
  • Unit 14: bed / bath $400/month
  • Unit 15: bed / bath $400/month
  • Unit 16: bed / bath $400/month
  • Unit 2: bed / bath $400/month
  • Unit 3: bed / bath $400/month
  • Unit 3: bed / bath $400/month
  • Unit 4: bed / bath $400/month
  • Unit 4: bed / bath $400/month
  • Unit 5: bed / bath $400/month
  • Unit 5: bed / bath $400/month
  • Unit 6: bed / bath $400/month
  • Unit 7: bed / bath $400/month
  • Unit 8: bed / bath $400/month
  • Unit 9: bed / bath $400/month
  • Unit A: bed / bath $400/month
  • Unit A: bed / bath $400/month
  • Unit A: bed / bath $400/month
  • Unit A: bed / bath $400/month
  • Unit A: bed / bath $400/month
  • Unit A: bed / bath $400/month
  • Unit A: bed / bath $400/month
  • Unit A: bed / bath $400/month
  • Unit A: bed / bath $400/month
  • Unit A: bed / bath $400/month
  • Unit A: bed / bath $550/month
  • Unit A: 1 bed / bath $400/month
  • Unit B: bed / bath $400/month
  • Unit B: bed / bath $400/month
  • Unit B: bed / bath $400/month
  • Unit B: bed / bath $400/month
  • Unit B: bed / bath $400/month
  • Unit B: bed / bath $400/month
  • Unit B: bed / bath $400/month
  • Unit B: bed / bath $400/month
  • Unit B: bed / bath $400/month
  • Unit B: bed / bath $400/month
  • Unit B: bed / bath $550/month
  • Unit B: 1 bed / bath $400/month
  • Unit C: bed / bath $400/month
  • Unit C: bed / bath $400/month
  • Unit C: bed / bath $400/month
  • Unit C: bed / bath $400/month
  • Unit C: bed / bath $400/month
  • Unit C: bed / bath $400/month
  • Unit C: bed / bath $400/month
  • Unit C: bed / bath $550/month
  • Unit D: bed / bath $400/month
  • Unit D: bed / bath $400/month
  • Unit D: bed / bath $400/month
  • Unit D: bed / bath $400/month
  • Unit D: bed / bath $400/month
  • Unit E: bed / bath $400/month
  • Unit E: bed / bath $400/month
  • Unit E: bed / bath $400/month
  • Unit E: bed / bath $400/month
  • Unit E: bed / bath $400/month
  • Unit F: bed / bath $400/month
  • Unit F: bed / bath $400/month
  • Unit F: bed / bath $400/month
  • Unit F: bed / bath $400/month
  • Unit F: bed / bath $400/month
  • Unit G: bed / bath $400/month
  • Unit G: bed / bath $400/month
  • Unit G: bed / bath $400/month
  • Unit H: bed / bath $400/month
  • Unit I: bed / bath $400/month
  • Unit J: bed / bath $400/month
  • Total $29,250/month
  • Expenses
  • Waste Collection $288/month
  • Insurance $2,226/month
  • Property Taxes $1,270/month
  • Maintenance reserve $3,000/month
  • Property Management $2,000/month
  • Total $8,784/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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