I want to share with you a great investment property opportunity!
It is 4 (4-plexes), all on the same street, in a good area, and they are in default. Meaning - they all can be purchased at a huge discount.
All four 4-plexes were originally sold for $372,000 in 2007
Now, they are available to purchase at $185,000 each (or less!)
All units are 3 bedrooms, 1.5 baths (townhouse style);
All units are rented and are getting between $500-625/month;
Properties were built in 2003 and are in good condition.
You will need to be quick to jump on this deal before someone else does. You can get good financing (with 25% down) for each four-plex so you don't have to worry about getting a commercial loan for all 16 units.
The properties together are producing around $9,000/monthly gross income.
This, in my opinion, is one of the best opportunities you can get in this market. If you are fortunate enough to have access to purchase the complexes with cash, this could be a nice little retirement income/nest egg for you. If you finance it, this immediately give you a monthly raise in your wallet.
Click here to view listings.
Here is why (in a nutshell) I like this purchase so much:
Pros:
- New Complexes = Lower Maintenance
- 3 Bedroom Units = they are rare and in demand
- Location = not as many rentals in this part of town and a desirable location for tenants
- Future Resale = These last sold 3 years ago for $372,000/each, need I say more
- Income = currently making money, and when economy/rental market strengthens, it will get better
Cons:
- I'm pissed because I can't buy it myself
- It is a Short Sale, which can take longer to close, but for this opportunity it is worth it
- Currently they prefer to sell all properties together, so if you don't have the resources to purchase you might need to pool funds with family or other partners.
Call my cell phone ASAP if interested, 208-340-8399-
WILL NOT LAST A WEEK