SELLER FINANCING AVAILABLE – Seller Will Carry – 20% Down – Interest Only Payments – 9.95% – 10 Years (Term Negotiable).
Property needs significant repairs. $175,000 is a rough estimate for rent-ready condition.
5 Buildings, 40 Units
8 – 1 bed/1 bath units (Market Rent $350-400)
32 – 2 bed/1 bath units (Market Rent $450-500)
Investor wants to hold on to the property as the potential he originally envisioned still exits, however, after two bad experiences with contractors and property managers, he doesn’t have the means to continue. Competent property management is finally in place. Pick up where the owner left off… his loss, your gain.
Best rent strategy for max ROI per Property Manager is to clean up grounds, paint exterior, then rehab one building at a time. As units fill with tenants, move on to next building.
Major intersection at the corner of Overton Crossing and Frayser Blvd.