Landmark International Real Estate
Listed by Landmark International Real Estate
$1,900,000
close to 8 cap free market 6 family
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,451
Net Rentable (SqFt) 5,451
Units 6
Cap Rate 7.86%
NOI $149,246
Occupancy 83%
Pro-Forma Cap Rate 9.16%
Pro-Forma NOI $174,026
Price per SqFt $349
Year Built 1926
Year Renovated 2022
Buildings 1
Stories 3
Lot Size (SqFt) 3,000
Occupancy Date 01/21/2026
Ground Lease No
Ownership owner
Sale Condition 1031 exchange
Multifamily | 6 Units | $316,667/unit
Marketing description
Great investment in the heart of Midwood. HIGH cap 6 family free market building.Right next to James Madison High school. Right now cap 7.85%. The whold building was renovated in 2022. Need to pay less attention to the maintence. Owner can provid payment history for the rent. High income producing building. monthly income 17585 monthly, pro forma income 19650 monthly expense 5147. net operating income per month is 12437 eight now and 14502 in the future. All tenant do not have lease. A great building which is worth to keep for life time. Imagine a life which you can take 14502 per monthwithout doing anything.
Investment highlights
7.85% cap rate and 9.15% pro forma
Listing Contacts
Landmark International Real Estate
Listed by Landmark International Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$149,246.00
$12,437.17/mo
Valuation Metrics
0
DSCR
7.86%
Cap Rate
7.86%
ROI
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