48 Unit Apt Community Needs Partner
We currently have 1.1m invested into a 48 unit apt community. We are in the process of repositioning to current highest and best. Will take 460K more to complete at which point the community will be a solid class ‘B’. We are currently owner-operating this project but the numbers do include salary/concessions for management. Revenues cover expenses at 70% occupancy (includes current DSC). At this time we have a waiting list of tenants that we are able to put into units as fast as we are able to bring them into service. At a very reasonable 9 cap the property has a value of 1.81m. Numbers have been run backwards and forwards multiple times and are actual and conservative. Also there are several possible value plays that can be discussed.
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Looking for a cash investor/partner who could help us to finish this deal off properly. May also consider a buyout.
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Call John at 678-221-4687 for more information or e-mail **Please See My Profile**
Is this apt bldg still available? I have an investor/investors looking for apt bldgs 10 units and up. Please email me **Please See My Profile**
Thanks,
Patti[ Edited by panici on Date 01/25/2011 ]
In addition to the 2 self-storage facilities for sale, we also have mobile home parks, 3 apt complexes in Tampa, FL, 1 in Michigan, & 2 in Texas. Contact Eli. 904-343-4646 Serious Investors Only Please