12-plex in Manville Heights on Ellis Ave just off of River near the arts complex, Hancher and Levitt center. All 3 br 1 bath and about 900 feet each. 7 are leased for $990 and 1 at $800. 4 are in rent ready condition but are vacant. MRS appraisal in 5/2018 for $1,300,000 but priced much less. Proforma at 100% occupied at $950 per unit shows SGI at $144,480, actual expenses are $65,306 for a $79,174 potential NOI. Cap at full rent is 6.9%. A buyer is 4 tenants away from a great deal!
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