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18 unit Multifamily – Tx- 10cap

Category: Member Offerings

18 Unit multi-family property in Auburndale, just outside of Winter Haven. The complex consists of three concrete block buildings with six units in each. Unit mix is as follows: 12 units are 2/1?s which rent for $700/month and the other 6 are Studios that rent for $500-$600/month. The roofs are less than two years old and the exterior paint and stucco is fairly new as well. Each unit has a small front porch as well as an enclosed patio in the back. Paint and carpet are needed inside some of the units and minor landscaping may help the curb appeal. Several of the studios are currently vacant but should be fairly simple to fill with some local area advertising. The complex is in a great rental area and just off of US 92. Expenses are fairly low and by bringing the complex back to 100% occupancy the cap rate will be phenomenal. In addition, there is a 2/1 block house across the street that rents for $1000/month. The house is being offered as a bonus for only $55k! We?re working on a short executive summary for this property. Please let me know if you are interested. By admin |


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