July 16, 2013
I am seeking investor(s) who wants to invest in Texas, United State.
I am a license realtor.
This project is a 220-unit apartment, located in Houston Texas, need intermediate rehab, the future profit is great, below is the info.
HOW ABOUT A 1.5+ MILLION MINIMUM PROFIT FOR AN APARTMENT REHAB PROJECT?
- The 220 unit apt located in Houston, Texas United State.
- Asking price: $2,466,500
- Appraisal AS-IS is $2,750,000
- Rehab needs about $6,500-$8,000/unit, total rehab cost: ~1.65Million
- The ARV about 6 - 7.5 Million when it reach 85% occ, NOI is strong, and the NOI can go up to $900,000, then, for 10% cap, it will be 8-9Million
- Currently vacant.
- Rehab needs such as, HVAC, Carpet, Appliances, Painting.
- No seller financing
- No third party financing, because, lenders won't lend on vacant, need-repair property.
I will have more deal analysis in detail for you if you are interested.
Would you be interested?
Please contact me asap if you are interested.