645000 41619ft2

Name: 645000 41619ft2
Brand: 645000 41619ft2
SKU: genClassifieds-590347
Price: 52 USD
Availability: InStock
Rating: 4.2 (44 reviews)

52 USD

This property consists of a total of thirteen (13) two-story brick buildings on one flat, beautiful 8.25-acre parcel of land. There are a total of 52 units. measuring 41,619sf, comprised of forty-four (44) 2bed/1bath units and eight (8) 1bed/1bath units. There is an additional retail space with street frontage and several empty lots in which to build more apartments if desired.

This property can easily be the highest cash-flowing property in your portfolio with some focus and good management. It is currently positioned for a full renovation (estimated $200-250K) to command top market rents. Current owner has stabilized property while purposely vacating tenants to get ready for renovation. Property is well located in major school zone area and is HAPP approved to provide secure rental income.

The recent approval of the 2015 SPLOST educational tax bill has significantly increased the value and options of this property as a $56MM high school has been approved for construction on the neighboring lot. Post-renovation NOI @ market rents and 80% occupancy = $150K with CAP Rate (cash-on-cash) of 16.8% and significantly higher with bank leverage. Post-renovation price per unit is only $17K.

Cash and Private Money ONLY. NO SELLER FINANCING

NOTE: If you have a network of buyers who may be interested in this property, please email us.

NOTE: This property is one of two apartment complexes in Columbus, GA (15 minutes apart) that can be purchased individually or as a package. See this Craigslist Link http://columbusga.craigslist.org/reo/ html for other property.

*Serious investors and inquiries only. If interested, please email for Executive Summary.

Location: Alabama -

Added on 18 days ago and expires on 21 May, Ad id: 590347

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