*** ********* ***, ********, MS

13.73% return

SP: $1,595,000

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Property Description

RARE OPPORTUNITY!!!

38 x 3bed/2bath units, very large!!! All brick. Newer construction, built in 2009. Separate electric meters. Central heat and air. Tons of square footage. ONLY $42K PER UNIT AND $38/SQFT!!!! REPLACEMENT COST IS OVER $7.5 MILLION!!!! Fully occupied, turnkey and professionally managed. New roofs, new HVAC, no deferred maintenance. WILL GENERATE A 13.73%+ NET RETURN ON INVESTMENT!!!!

Do not miss out on this amazing deal.

Property Information

Listing statusActive
Property typeMulti Family (2 properties)
Total units38
Total bedrooms114
Total bathrooms76
Building size41800 sq. ft.
Lot size7.7 acres
Year built2009

County******** County
Subdivision********** *********
ConstructionBrick
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingCentral
CoolingCentral

Property Financial Summary

Sale price$1,595,000
Estimated rehab¹$0
Total investment$1,595,000

TypeProforma

Gross income (annually)$342,000
Operating expenses (annually)$123,081
Net income (annually)$218,919
Gross return21.44%

Gross income (monthly)$28,500
Operating expenses (monthly)$10,257
Net income (monthly)$18,243
Net return13.73%

Property Income & ExpensesMonthlyAnnual

Income

*** ********* ***, Building 1
Unit 1: 3 bed / 2 bath$750/month$9,000/year
Unit 2: 3 bed / 2 bath$750/month$9,000/year
Unit 3: 3 bed / 2 bath$750/month$9,000/year
Unit 4: 3 bed / 2 bath$750/month$9,000/year
*** ********* ***, Building 100
Unit 100a: 3 bed / 2 bath$750/month$9,000/year
Unit 100b: 3 bed / 2 bath$750/month$9,000/year
*** ********* ***, Building 102
Unit 102a: 3 bed / 2 bath$750/month$9,000/year
Unit 102b: 3 bed / 2 bath$750/month$9,000/year
*** ********* ***, Building 103
Unit 103a: 3 bed / 2 bath$750/month$9,000/year
Unit 103b: 3 bed / 2 bath$750/month$9,000/year
*** ********* ***, Building 104
Unit 104a: 3 bed / 2 bath$750/month$9,000/year
Unit 104b: 3 bed / 2 bath$750/month$9,000/year
*** ********* ***, Building 105
Unit 105a: 3 bed / 2 bath$750/month$9,000/year
Unit 105b: 3 bed / 2 bath$750/month$9,000/year
*** ********* ***, Building 106
Unit 106a: 3 bed / 2 bath$750/month$9,000/year
Unit 106b: 3 bed / 2 bath$750/month$9,000/year
*** ********* ***, Building 107
Unit 107a: 3 bed / 2 bath$750/month$9,000/year
Unit 107b: 3 bed / 2 bath$750/month$9,000/year
*** ********* ***, Building 108
Unit 108a: 3 bed / 2 bath$750/month$9,000/year
Unit 108b: 3 bed / 2 bath$750/month$9,000/year
*** ********* ***, Building 2
Unit 5: 3 bed / 2 bath$750/month$9,000/year
Unit 6: 3 bed / 2 bath$750/month$9,000/year
Unit 7: 3 bed / 2 bath$750/month$9,000/year
Unit 8: 3 bed / 2 bath$750/month$9,000/year
*** ********* ***, Building 3
Unit 9: 3 bed / 2 bath$750/month$9,000/year
Unit 10: 3 bed / 2 bath$750/month$9,000/year
Unit 11: 3 bed / 2 bath$750/month$9,000/year
Unit 12: 3 bed / 2 bath$750/month$9,000/year
*** ********* ***, Building 4
Unit 13: 3 bed / 2 bath$750/month$9,000/year
Unit 14: 3 bed / 2 bath$750/month$9,000/year
Unit 15: 3 bed / 2 bath$750/month$9,000/year
Unit 16: 3 bed / 2 bath$750/month$9,000/year
*** ********* ***, Building 5
Unit 17: 3 bed / 2 bath$750/month$9,000/year
Unit 18: 3 bed / 2 bath$750/month$9,000/year
Unit 19: 3 bed / 2 bath$750/month$9,000/year
Unit 20: 3 bed / 2 bath$750/month$9,000/year
*** ********* ***, Building 6
Unit 21: 3 bed / 2 bath$750/month$9,000/year
Unit 22: 3 bed / 2 bath$750/month$9,000/year
Total$28,500/month$342,000/year

Expenses

Property Taxes$571/month$6,857/year
Insurance (estimated)$1,583/month$19,000/year
Electric bill$433/month$5,195/year
Water and Sewer$620/month$7,434/year
Waste Collection$200/month$2,395/year
Property Management$2,850/month$34,200/year
Maintenance reserve$4,000/month$48,000/year
Total$10,257/month$123,081/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

Q: Why is the property address and location information hidden?
A: This property is a premium property and is completely off-market. Full access is available to premium clients only. If you are not a premium client, we require to have an executed non-disclosure agreement on file in order to share the property details with you.

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