Summary: 16 Unit Apt complex just finished and 50% full within 3 months expect 100% occupancy in 3 more months – also comes with 3 Acres of land next to it for future development. Cap Rate at $1.4M is 13% when 100% occupied by now because when owner gets 100% occupied he will sell much higher! Move fast!
Rehabbed 16 Units, 8 Units were done 08/15/2018 approximately and have already leased out, he will be done with the other 8 units this week and will fill up quickly. Owner also secured 3 Acres of land next to the apt complex for future construction.
16 Units all 2 bedroom and 1 bath
- New electrical
- New siding
- New windows
- New HVAC (air conditioning in and outside units)
- New Plumbing
- New roof
- Management in place
- Full remodel according to owner
- Auto payment tenants on section 8
Rent Roll with Rent Increases in Jan 2019
Fully Occupied Proforma for 2019 Sec 8 Rent Increases 01_2019 Kevin Baker Apt Complex
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