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 Current
Rent Roll with Rent Increases in Jan 2019
Fully Occupied Proforma for 2019 Sec 8 Rent Increases 01_2019 Kevin Baker Apt Complex
16 Unit Apt Complex Rehabbed and Making a Ton of Money! 13%+ Cap Rate $1.4M + 3 Acres of Land 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.