Sweat equity partner seeking Joint Venture partner for 150+ units B+ area @ 40% IRR!

If you like this deal, please contact me to get more information.

attractive.properties@gmail.com

Purchase price:

less than $9,000,000

State:

TX

MSA:

BEAUMONT-PORT ARTHUR, TX

County:

JEFFERSON COUNTY

Number of Unit:

Between 150-200

Unit MIX:

5% 3BD | 31% 2BD | 64% 1BD

Area class:

B+

Property Class:

C  (1974)

occupancy rate:

Above 90%

Capex required?

$250K

Market Cap rate:

7.4%

Actual  Cap rate:

9.14%

DSCR:

2.66

GRM:

5.3

Cash on Cash (Year 1):

17.51% C/C from day one (based on actual)

Average ROI:

69% (average per year)

TOTAL ROI:

344% (after 5yr)

iRR (YEAR5)

40%

TOTAL potential Profit:

$7,601,954 (after 5yr)

 

Comment

 

Cable contract (68K per year) will end on year 7, adding value to a prospect buyer of approx. $1M OR can be capitalized and boost the IRR above 60%!!

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