Property Type:
Residential Income
Square Footage:
88,965
Lot Size (sq. ft.):
241,566
Status:
Closed
Current Price:
$6,095,000
List Date:
6/27/2016
Last Modified:
1/31/2018
Overview
Description
Amazing property and rare opportunity to invest in a value add deal.
- 14.63% cash on cash with new Freddie Mac
- 10 year ownership - eligible for 4% renovation/rehab tax credits
- 3 property portfolio allows for flexible exit strategy
- Acquire well below replacement cost
- Rents are 14% below submarket
- Competing properties are charging for RUBs
- Potential after tax IRR of 24.90%
Property under contract for 13 months to buyer who intends to redevelop with affordable housing - call Listing Broker for info on comparable sale.
Last Updated: January - 31 - 2018
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.