12 Unit Value-Add | 9%+ Pro Forma | Upside Rents
12 Unit Multifamily | Value-Add Lease-Up | 9.5%+ Pro Forma Cap | Alliance, OH
Marketing description
Property Overview
Asking Price: $660,000
Units: 12 (1 Bed / 1 Bath) + basement unit
Location: Alliance, OH
Asset Type: Multifamily
Strategy: Value-Add / Lease-Up
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π Executive Summary
12-unit multifamily investment opportunity in Alliance, OH offering a clear path to stabilization and strong yield.
The property is currently operating at approximately 58% occupancy, providing immediate upside through lease-up and modest remaining improvements. With market rents supported at $725/unit and minimal remaining rehab ($20K), this asset presents a compelling opportunity for investors seeking to achieve double-digit returns upon stabilization.
Stabilized multifamily assets in this market typically trade in the 7β8% cap range, offering meaningful value creation potential as operations are optimized.
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π° Financial Summary
Current Performance:
* 7 of 12 units occupied
* Average rent: ~$682/unit
* Significant upside through lease-up
Pro Forma (Stabilized):
* Gross Income: ~$104,400 annually
* NOI: ~$64,500
* Projected Cap Rate: ~9.5%β10%+
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π Value-Add Opportunity
* 5 vacant units available for lease-up
* Rents below market levels
* Minimal remaining rehab (~$20K)
* Stabilization timeline: ~3β6 months
Contact info:
Text or call Ethan at (704) 607-2078
Email Ethan at [email protected]
Private lender financing available for this and other properties:
https://app.nccgfinance.com/apply/ethan-haigler
Investment highlights
Additional pictures:
https://drive.google.com/drive/folders/1caZSmBxYW2LgkjKmLrEiAyr_jTT6spAR
https://drive.google.com/drive/folders/1P7fxUODc5bfv21NhA5ueR1LNH-au3IAT
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