TITLE:
400 Van Buren
CONTROL:
Owner
VALUE:
$595,000
LOAN:
$350,000
EQUITY:
$245,000
TYPE:
Multi-Family
HAVE:
7-Units, all studios that can be converted to one-bed units for under $20,000.
ADDRESS:
400 Van Buren Ave, Saint Paul, Minnesota
BENEFITS TO NEW OWNER:
Value-add opportunity. Turn 6 of the 7 studio units to one-bedroom units.
GROSS SCHEDULED INCOME:
$93,600 Projected
VACANCY LOSS:
$2,808
GROSS EFFECTIVE INCOME:
$90,792
EXPENSES:
$25,603
NOI:
$65,189
DEBT SERVICE:
$35,328
CASH FLOW:
$29,861
CAP RATE:
10.96%
BENEFITS SOUGHT:
N/A
CAN ADD:
Other properties in Saint Paul, MN area
REMARKS:
Seller is open to 10%-20% carry back
COUNSELOR:
William Schultz
KW Commercial/Keller Williams Premier
625 Bielenberg Drive
Saint Paul, Minnesota, 55125
