Property Description:
LINK to google drive photos below:
drive.google.com/drive/folders/1ipCbnPbrnpiPbcBNf9qN7v71YitZt8wK?usp=sharing
(2) 4 plex buildings
All Studio apartments
3,740 sq ft
Built-in 1970
All rented and stays rented!
Tenants pay electric and gas. Owner pays water/Trash. Owner had a water leak last year making the water bill much higher than it should have been. Water can be passed on to tenants.
The property is dated but in rentable condition.
Current rents - $3,090 per month
Tenants have been told rents will increase or utilities will become their responsibility.
Purchase price $222,000
Cash or Hard/Private Money
NO OWNER FINANCING AVAILABLE
T12
Income: $36,949
ANNUAL EXPENSES:
Insurance $1,182
Maintenance/Repairs $3,941
Taxes $3,455
Water $6,368
Property Management (8%) Self - Managed
Total $14,946
Net Operating Income: $22,003
Current Cap rate 9.9%
Cap rate with property management – 8.6%
An earnest money deposit of $5,000 is required to reserve this property. Earnest money will be refundable for a short due diligence period to view and/or inspect the property. At that time Earnest Money will become NON-REFUNDABLE.
PLEASE READ
We currently have this property under contract. We are considering assigning our contract with the right partner. If you have interest please follow the instructions below:
1. Read through the entire POST. We try to answer many of your questions upfront.
2. If you are serious about the property you need to move quickly. Most of our properties are under contract within 2 weeks or less and closed within 3-4 weeks of us sending them out.
3. If you are interested in buying the property you need to have money lined up for a quick close. We may be able to help you with hard money but you will still need 10-25% down payment. We will give people that have their own money lined up priority. Most of our properties need to be taken out by cash through hard/private money or syndication.
4. If you have additional questions that we have not provided answers to (see number 1) please let us know. If we can get that information for you we will do so!
Please do not send this email out to anyone without our permission.
PLEASE DO NOT DISTURB THE OCCUPANTS
***Wholesalers Please do not re-market***
Inspection by appointment only!
For more information or to reserve this property,
contact Rebecca at 801-865-4167
For serious buyers, we can get you in the property.
IF YOU WOULD LIKE THE FINANCIALS PLEASE RESPOND TO THIS EMAIL PLEASE DO NOT ASK FOR FINANCIALS UNLESS YOU HAVE READ THIS POST IN ITS ENTIRETY.
PROPERTIES ARE FIRST COME, FIRST SERVE, AND SOLD IN "AS IS" CONDITION!
PROPERTIES ARE ONLY AVAILABLE TO CASH BUYERS WHO CAN CLOSE QUICKLY.
BUYERS MUST DO THEIR OWN DUE DILIGENCE BEFORE MAKING AN OFFER!
Thank you for taking a look!
Rebecca Jensen 801-865-4167 rebecca@weofferoptions.com
Location:
100 North Frost Street, New Boston, TX 75570