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 statusActive
  • 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

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