PLEASE No wholesalers, realtors or big companies. Owner's terms. 6 duplexes sold together. 12 TURNKEY units! 24 bed 12 bath Cash Cow....especially if you look at the cash on cash with creative terms. Low maintenance, section 8, HCV and Veteran Program Housing. (Section 8 HUD rate for these in this zip is $1170/unit thats $14,040/month! TONS OF UPSIDE) Ask us for the HUD link which shows what section 8 will pay in the area. Affordable housing weathers recessions and economic downturns. We love our current tenants and just haven't wanted to change them out for section 8. They are currently rented for $650 a month. Amazing on-site property manager you will want to keep and we are actually non-negotiable on that! Fully rented. Separate 1b/2bed utilities. The buildings are brick with tile floors. Very low expenses. No dishwashers, no clothes washers, no expensive central air compressors to worry about breaking down. All units are ac/window units which are very cheap to replace if it is ever necessary. Let the government make your tenants' rent payments! To summarize, Current income is 650x12 (minus one unit for the on site manager) = 7150/mo if raised to section 8 amounts =$168,480/year! Monthly expenses are simple. yard maintenance (125/mo) and dumpster (240/mo) insurance and tax are about 2200/ea annually. Terms: Purchase price: 950k 15% down 6.5% rate on 5 or 10 year interest only balloon. Monthly payment is about 4500/mo. These are located in an Opportunity Zone, great for taxes and capital gains. Google it to learn more. We are only selling as we have an even better opportunity locally. Walk through videos available.
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