One Tremendous Opportunity for those Savvy Investors looking for a Turn Key CASH FLOW operation. There are 21 units under 10 Folios (DUPLEX – MULTI-FAMILY LESS THAN 10 / 08) up for GRABS! All units are currently rented with deposits. We have prepared a spread sheet explaining every detail to this Acquisition.
If you have already subscribed as a “BUYER” on our list, you should not have any problems obtaining this information. All others must fill out our Buyer’s Form prior to receiving any details regarding this sale.
These Assets are Not Listed, Not an REO, Not a Short Sale. All 10 Folios will be delivered with FREE & CLEAR Marketable Title.
WE DO NOT OFFER FINANCING OF ANY KIND. The Sale is Not subject to Appraisal or Financing.
LOCATION: Fort Myers Florida
CLASS: “C”
| Purchase Price | $810,000 | |
| Down Payment | $809,190 | |
| Loan Term | 5 Years | |
| Interest Rate | 5.00% | |
| Principal & Interest Payment | $5 | |
| Closing Costs | $16,200 | |
| Gross Scheduled Income (GSI) | $126,840 | |
| Vacancy Rate | 7.00% | |
| Number of Units | 21 | |
| Pro-forma Income Statement & Cash Flow | ||
| Gross Scheduled Income (GSI) | $126,840 | |
| Less Vacancy | $8,879 | |
| Total Actual Annual Income | $117,961 | |
| Other Income (Laundry, Late Fees, etc.) | $0 | |
| Gross Operating Income (GOI) | $117,961 | |
| Annual Opertating Expenses | ||
| Accounting | $37,820 | |
| Admin/Bank Charges | (Included under Accounting) | |
| Advertising | (Included under Accounting) | |
| Electricity | (Included under Accounting) | |
| Elevator | (Included under Accounting) | |
| Gas | (Included under Accounting) | |
| Landscaping | (Included under Accounting) | |
| Legal | (Included under Accounting) | |
| Maintenance & Repair | (Included under Accounting) | |
| Payroll taxes | (Included under Accounting) | |
| Permits and licenses | (Included under Accounting) | |
| Pest control | (Included under Accounting) | |
| Pool | ||
| Property Insurance | (Included under Accounting) | |
| Property Management | (Included under Accounting) | |
| Real Estate Taxes | (Included under Accounting) | |
| Security | (Included under Accounting) | |
| Telephone | (Included under Accounting) | |
| undefined | ||
| Tenant buyout | (Included under Accounting) | |
| Trash | (Included under Accounting) | |
| Water | (Included under Accounting) | |
| Other | ||
| Other | ||
| Total Operating Expenses | $37,820 | |
| Net Operating Income (NOI) | $80,142 | |
| Annual Debt Service (mortgage payments) | $60 | |
| Before Tax Cash Flows (BTCF) | $80,082 | |
| Key Operating Ratios | ||
| Capitalization Rate | 9.89% | |
| Cash on Cash (COC) | 9.70% | |
| Gross Rent Mulitplier (GRM) | 6.39 | |
| Net Income Mulitplier (NIM) | 10.11 | |
| Debt Coverage Ratio (DCR) | 1335.69 | |
| Expense Ratio (ER) Per Unit | 32.06% | |
| Price Per Unit | $38,571 | |
