Turnkey Rental
209 Apache Dr, Enterprise, AL
15.42% return
LP:
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Property Description

Cute property! Minutes away from Opportunity Zone. No deferred maintenance needed. 8 unit apartment complex in a consistent subdivision. Great curb appeal. Rented below market and can generate $425 per unit. Most central heat and air units have been replaced recently. City is located close to Pensacola, FL. Growing area. Storage facility is also available next doors. Call now!

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units8
  • Total bedrooms8
  • Total bathrooms8
  • Building size4968 sq. ft.
  • Lot size(unknown)
  • Year built1983
  • CountyCoffee County
  • Subdivision
  • ConstructionBrick/Frame
  • RoofSHINGLE
  • Water sourceCity
  • Water disposalSewer
  • HeatingCentral
  • CoolingCentral

Property Financial Summary

  • Asking price $219,900
  • Estimated rehab 1 $0
  • Total investment $219,900
  • Type Proforma
  • Gross income (annually) $40,800
  • Operating expenses (annually) $6,901
  • Net income (annually) $33,899
  • Gross return 18.55%
  • Gross income (monthly) $3,400
  • Operating expenses (monthly) $575
  • Net income (monthly) $2,825
  • Net return 15.42%

Property Income & Expenses

  • Income
  • Unit 1: 1 bed / 1 bath $425/month $5,100/year
  • Unit 2: 1 bed / 1 bath $425/month $5,100/year
  • Unit 3: 1 bed / 1 bath $425/month $5,100/year
  • Unit 4: 1 bed / 1 bath $425/month $5,100/year
  • Unit 5: 1 bed / 1 bath $425/month $5,100/year
  • Unit 6: 1 bed / 1 bath $425/month $5,100/year
  • Unit 7: 1 bed / 1 bath $425/month $5,100/year
  • Unit 8: 1 bed / 1 bath $425/month $5,100/year
  • Total $3,400/month $40,800/year
  • Expenses
  • Water bill $170/month $2,040/year
  • Property Taxes $79/month $950/year
  • Waste Collection $34/month $411/year
  • Insurance $208/month $2,500/year
  • Maintenance reserve $83/month $1,000/year
  • Total $575/month $6,901/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.

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