Off Market, 982 Units Near Houston and 18 Units Chicago-95% Leased!!!

[Patrick Simmons]

Off Market, 982 Units Near Houston and 18 Units Chicago-95% Leased!!!

 

982 Units Near Houston...

 

This opportunity consists of two Class C multifamily properties with 982 units (Compton Court and Columns apartments, side by side). The previous owner purchased them for $16,000 per door and put approximately $10 million dollars in renovations. The current NOI based on actual numbers is approximately $2.7 million. The deal could trade around $21 million which could put the cap rate around 12.8%. The property currently has over 90% occupancy. My associate in Houston and I are acting on behalf of the seller to find buyers for this deal. This is a great cash flowing property. Please let me know if you would have any interest.  

The terms the seller is looking for are:

$20.6 million purchase price ($21 million purchase price will include 2 points to Buyer Rep. the seller will net $20.6 million)

30 day or less to close

LOI + Proof of funds needed to put under contract

The seller will sell only at the price and terms mentioned above.

Contact [e-mail] with your full contact info to receive more information on this property. Make sure you specifically state which property you are interested in please.

 

18 Units Chicago....

 

Private seller who is looking to sell all 18 2 unit apt. buildings that are  95% leased in Chicago.

   * Individual prices at $185 k per two flat
   * 10+ purchased at $165 k per two flat ($20,000 discount per deal)
   * ALL 18 purchased at $145k per two flat ($40,000 discount per deal)
   * 95% are leased out already
   * ALL TURN KEY
   * We have closed comps for 60-90 days on the low end of $280k!!!

All 18 are $2.6m + 3 points

Contact [e-mail] with your full contact info to receive more information on this property. Make sure you specifically state which property you are interested in please.

 

Patrick B. Simmons
President

ComResInvestments
a division of simmons road enterprises, inc.
2500 Al Simmons Road - Dover, Fl 33527
Please Visit Our Site: www.ComResInvestments.com
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[Dominique Nguyen]

Patrick, do you guys have a recent BPO or appraisal done on the 982 units? If yes, what does BPO come in at? I sent you an email, we are in need of multifamily with 12% cap+, perhaps we can connect on the phone, thanks

[Patrick Simmons]

Hi Dominique. I will respond to your email tomorrow.