TITLE:
7 Unit Multi Family
CONTROL:
Exclusive
VALUE:
$555,000
LOAN:
$287,000
EQUITY:
$268,000
TYPE:
Multi-Family
HAVE:
This 7 unit MF property is a mix of four 1br and three studio apartments. Six of the tenants are section 8 or other voucher, dependable cash flow.
ADDRESS:
1708 Scott St, Covington, Kentucky
BENEFITS TO NEW OWNER:
Solid cash flow, management in place, no capex
GROSS SCHEDULED INCOME:
$80,096 Projected
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$80,096
EXPENSES:
$41,225
NOI:
$38,871
DEBT SERVICE:
$2,140
CASH FLOW:
$36,731
CAP RATE:
7.00%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$260,000
$2,140
7%
05/01/2043
Yes
BENEFITS SOUGHT:
trade into a larger MF, retail or industrial property with cash flow
CAN ADD:
Has two other MF properties in the Cincinnati area (4 unit and a three unit)
REMARKS:
We turned this into a section 8/ voucher property to maximize cash flow for the area.
COUNSELOR:
Jim Carmichael
Berkshire Hathaway Commercial Real Estate
2320 Grandview Drive
Fort Mitchell, Kentucky, 41017
