Magnolia Apartments
Hospitality | 10.92% CAP
Marketing description
The property will be delivered as a fully compliant multifamily building. At closing, it will include a fully code-compliant sprinkler system and be properly zoned by the town for multifamily use.
The seller can also introduce a DSCR lender willing to finance up to 75% of the purchase price. DSCR financing is based on the property’s income rather than the buyer’s personal income.
To qualify, the buyer must provide proof of funds of $350,000 and have a minimum credit score of 600.
Qualified buyers will be able to acquire a cash-flowing multifamily asset with institutional financing in place.
The prices we are selling it at are starting points, not limits. Bring your best offer and terms. We value certainty of a close, over squeezing every dollar.
This has potential to be a solid, cash flowing asset. We respect speed and win/win deals that make sense for everyone involved. If it works for you, make an offer and we’ll respond with a yes, no, or counter:
• Unit Mix: 17 efficiency style studio units with kitchens. 1 duplex home (2 units) [1 bed 1 bath downstairs unit, 3 bed 1 bath upstairs unit] located in the center of the property
• Additional Assets: Architectural plans and survey included. Management in place for seamless ownership transition.
• Solid Brick Structure: Durable, low maintenance construction for long term reliability.
• Ample Parking: On site parking available for all tenants.
• Turnkey Investment: Fair condition with major systems intact; opportunity to raise rents with additional minor renovations.
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