Offering 2% Buyers Agent commission!! Here is a fantastic multifamily equity and cash-flow opportunity. This apartment complex was recently appraised at $1.6M with an assessed ARV of $3.4M+. The entire 64-unit complex has been vacated to prepare for improvements and sale. Please contact us for the Investor Packet which includes a detail scope of repair/budget, operating financials, and a Broker’s Price Opinion.
- Offer price: $1.35M (includes assignment)
- Repairs: $1.28M (includes GC and contingency)
- ARV: $3.4M
- As-is Appraisal: $1.6M
- Stabilized NOI: $283k
- 64 Unit C-class apartment complex, 100% Vacant
- Excellent street frontage and visibility – 3 mi from UoA, 5 mi from downtown
- Located in a well-established area, with commercial, industrial and residential properties in the area. Overall the market area, location, and demographics are favorable to the subject’s use.
- Unit mix: 10 1bed/1bath, 46x 2 bed/1bath, 8x 2bed/1.5bath
- $1M rehab budget is conservative and includes a complete repair and replacement which likely is not required
- All units are individually metered for HVAC, water, electricity
Please let us know if you or someone you know might be interested. Email, call or text us at 512-277-4665. Click Here for the Investor Packet including detailed financials, comps, pictures, and more.
- $10,000 Non-Refundable Deposit & signed agreement to secure contract
- Properties are sold on a ‘first come, first serve’ basis
- Buyer pays standard closing costs incl. title and a new survey, if required
- Buyers responsibility to do their own due diligence and verify all information