110 unit high rise 16 cap..1.6M (+3)..located in Ohio..

 ..     $ 1,600,000.00  Negotiable

 

 

110 Unit High Rise Apartment  Built 1965 ..will need some work... is being remodeled

 

Current Occupancy 70%

 

10,000 Sq. Ft. of Commercial Space + 600 sq. ft. Rental office – He is checking on the zoning to see what all it will allow.  There was a restaurant, CPA firm, and child care.  It is currently vacant, the price is based only on the apartments, the building is thrown in.

 

110 car - 2 story parking garage

 

Roof top pool 

 

Unit Mix 86 - 1 bed / 1 bath  approx. 600 sq. ft. 24 - efficiency  approx. 575 sq. ft.  

 

Efficiency rents $ 425.00    1 bed rents $ 475.00

 

 

Income and Expenses:  100% documentation will be provided upon presentation of LOI.

 

 

$ 55,000.00 Gross Income / month (Does not include 10,000 sq.ft. commercial space )

 

$ 500.00 per month laundry income (coin laundry equipment is not owned by seller)

 

$ 3000.00 Avg. water / month

 

$ 2000.00 Avg. electric / month

 

$ 500.00 elevator maintenance contract / month

 

$ 1100.00  Insurance per month (Farmers Ins.)

 

$ 500.00  Trash collection per month

 

$ 2100.00 Taxes per month

 

ADDITIONAL TRANSACTION NOTES OF INTEREST:

 

  • All units to be Rent Ready
  • Present owner will assist new owner or new management company for 90 days if desired.
  • Apartment units will be completely remodeled by closing

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Just curious, if your taking three points, hwoa er you going to allow others to eat too?
I asked it in that manner because most people here are going to be IM's. Are you splitting points?
yes..absolutely...I will make the deal work..as I read in another one of your post's...no deal no payday..M
Hi Mark when you get a chance call me 678-683-1204 Anthony
Why post then? Just curious...what is investor pricing to you  especially since, as is in the main body of the thread that the owner is rehabbing..thanks for the hammer..
Interested - pls send info to zeishs@gmail.com

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