Cash Cow Apartments
*** ********* ***, ********, FL
32.09% return
LP:
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Property Description

Insane value add opportunity! Turn this vacant motel into a cash-flowing apartment complex. Half of the work has been completed already. 17 units total. Each unit will rent for $650 a month. Solid structure. Tons of rental demand in the area.

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units17
  • Total bedrooms0
  • Total bathrooms17
  • Building size6890 sq. ft.
  • Lot size0.8 acres
  • Year built1951
  • County******** County
  • Subdivision********** *********
  • ConstructionCBS
  • RoofMETAL
  • Water sourceCity
  • Water disposalSewer
  • HeatingWall unit
  • CoolingWall A/C Units

Property Financial Summary

  • Asking price $255,000
  • Estimated rehab 1 $100,000
  • Total investment $355,000
  • Type Proforma
  • After repair value $425,000
  • Potential profit $70,000
  • Gross income (annually) $132,600
  • Operating expenses (annually) $18,697
  • Net income (annually) $113,903
  • Gross return 37.35%
  • Gross income (monthly) $11,050
  • Operating expenses (monthly) $1,558
  • Net income (monthly) $9,492
  • Net return 32.09%

Property Income & Expenses

  • Income
  • Unit 1: studio / 1 bath $650/month $7,800/year
  • Unit 10: studio / 1 bath $650/month $7,800/year
  • Unit 11: studio / 1 bath $650/month $7,800/year
  • Unit 12: studio / 1 bath $650/month $7,800/year
  • Unit 13: studio / 1 bath $650/month $7,800/year
  • Unit 14: studio / 1 bath $650/month $7,800/year
  • Unit 15: studio / 1 bath $650/month $7,800/year
  • Unit 16: studio / 1 bath $650/month $7,800/year
  • Unit 17: studio / 1 bath $650/month $7,800/year
  • Unit 2: studio / 1 bath $650/month $7,800/year
  • Unit 3: studio / 1 bath $650/month $7,800/year
  • Unit 4: studio / 1 bath $650/month $7,800/year
  • Unit 5: studio / 1 bath $650/month $7,800/year
  • Unit 6: studio / 1 bath $650/month $7,800/year
  • Unit 7: studio / 1 bath $650/month $7,800/year
  • Unit 8: studio / 1 bath $650/month $7,800/year
  • Unit 9: studio / 1 bath $650/month $7,800/year
  • Total $11,050/month $132,600/year
  • Expenses
  • Property Taxes $100/month $1,197/year
  • Insurance $208/month $2,500/year
  • Electric bill $750/month $9,000/year
  • Water and Sewer $150/month $1,800/year
  • Waste Collection $100/month $1,200/year
  • Maintenance reserve $250/month $3,000/year
  • Total $1,558/month $18,697/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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