TITLE:
18 Unit Rehab Project
CONTROL:
Owner
VALUE:
$1,000,000
LOAN:
$800,000
EQUITY:
$200,000
TYPE:
Multi-Family
HAVE:
18 unit residential rehab project. Trash out 4/15/24. Bids being obtained. Rough estimate is $10k/U. Some units almost rentable now
ADDRESS:
201 William D Jones Blvd, Fayetteville, Tennessee
BENEFITS TO NEW OWNER:
upside for rehabber. Existing PP lender estimates value should be $2M within 18 to 24 months. Rents projected at 850/mo Market Rent $1000-$1100/mo/U
GROSS SCHEDULED INCOME:
$183,600 Projected
VACANCY LOSS:
$9,180
GROSS EFFECTIVE INCOME:
$174,420
EXPENSES:
$64,260
NOI:
$110,160
DEBT SERVICE:
$68,334
CASH FLOW:
$41,826
CAP RATE:
11.02%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$800,000
$5,694
8%
05/01/2029
No
BENEFITS SOUGHT:
Pay off existing $800k first (PP). Bene is experienced RE and Note investor and may move note. Lives 90 min from subject.
CAN ADD:
Paper, cash , other packages in book
REMARKS:
local property manager is overseeing clean out and will assist with bids to rehab. also has a temporary helper who will move in and be our boots on the ground, and help coordinate work and show available units to prospective tenants.
COUNSELOR:
Bob Zweig
Peartrei Capital
8502 E. Chapman Ave. #106
Orange, California, 92869
