8620 Highway 71 S, Grannis, AR
25.09% return
LP:
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Property Description

BLOWOUT PRICING!!! STEAL THIS MULTIFAMILY!! CASH COW!! INSANE POTENTIAL!! Under $8700 per unit!!! Perfect property for Tyson Chicken Farm workers! Affordable housing. Tons of Potential. Roof is in good condition. 8 x 1bed/1bath units will rent at $550/month and 13 x studios will rent at $200/month. After all expenses, property will generate a 25%+ return on investment with management in place.

Property Information

  • Listing statusCancelled
  • Property typeMulti Family
  • Total units21
  • Total bedrooms8
  • Total bathrooms21
  • Building size8227 sq. ft.
  • Lot size1.4 acres
  • Year built1996
  • CountyPolk County
  • SubdivisionPARK ADD TO GRANNIS
  • ConstructionFrame
  • RoofShingle
  • Water sourceCity
  • Water disposalSewer
  • HeatingWall unit
  • CoolingWall A/C Units

Property Financial Summary

  • Asking price $180,000
  • Estimated rehab 1 $50,000
  • Total investment $230,000
  • Type Proforma
  • After repair value $330,000
  • Potential profit $100,000
  • Gross income (annually) $84,000
  • Operating expenses (annually) $26,292
  • Net income (annually) $57,708
  • Gross return 36.52%
  • Gross income (monthly) $7,000
  • Operating expenses (monthly) $2,191
  • Net income (monthly) $4,809
  • Net return 25.09%

Property Income & Expenses

  • Income
  • Unit 27: 1 bed / bath $550/month
  • Unit 28: 1 bed / bath $550/month
  • Unit 29: 1 bed / bath $550/month
  • Unit 30: 1 bed / bath $550/month
  • Unit 31: 1 bed / bath $550/month
  • Unit 32: 1 bed / bath $550/month
  • Unit 33: 1 bed / bath $550/month
  • Unit 34: 1 bed / bath $550/month
  • Unit 35: 0 bed / bath $200/month
  • Unit 36: 0 bed / bath $200/month
  • Unit 37: 0 bed / bath $200/month
  • Unit 38: 0 bed / bath $200/month
  • Unit 39: 0 bed / bath $200/month
  • Unit 40: 0 bed / bath $200/month
  • Unit 41: 0 bed / bath $200/month
  • Unit 42: 0 bed / bath $200/month
  • Unit 43: 0 bed / bath $200/month
  • Unit 44: 0 bed / bath $200/month
  • Unit 45: 0 bed / bath $200/month
  • Unit 46: 0 bed / bath $200/month
  • Unit 47: 0 bed / bath $200/month
  • Total $7,000/month
  • Expenses
  • On-site maintenance $200/month
  • Electric bill $500/month
  • Property Taxes $158/month
  • Insurance $250/month
  • Water and Sewer $250/month
  • Vacancy $833/month
  • Total $2,191/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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