Investors...Incredible Portfolio Package! 25 units (19 single family homes plus 3 duplexes) at $20K per unit. Gross rents are $94,620, NOI-$75,696 (based on an aggressive expenditures calculation of 20% due to current low-cost figures from self-management, maintenance & repair). Cap Rate is 15-17% with all units serviced by city water and sewer. Tenants pay all utilities. As Charlotte expands outward and becomes cost prohibitive and highly competitive for many investors, the western corridor is gaining increased attention with smart money looking at Cleveland County. Significant renovations are beginning to take place in once overlooked areas (ex. MLS#3625970) and the lure of smaller towns with accessibility to Charlotte are becoming highly desirable as Belmont did just a few years back. All properties are within a 3 mile radius of each other for ease of management duties. All units are currently 100% occupied and being sold "as-is". See Exhibit A in attachments for addresses and data.
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