San Diego Real Estate Investing

14 Unit Apartment Building - Toledo, Ohio Print E-mail
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ottawa_tnOttawa 14 Unit Apartment Building, Toledo, OH

This 14-unit apartment building is bank owned, in very good shape and primed to have value more than doubled.

 

The previous owner neglected management and now this is bank owned. Mismanaged properties are the easiest problems to fix with commercial properties. All we need to do is some minor repairs, conservatively 40K, and get the units rented by a professional property management company. This deal is a homerun, it already cashflows as is.It sits right across the street from a golf course, 1/4 mile from theUniversity of Toledo, 1/2milefrom Toledo Hospital andvery close to 2 of the best Catholic High Schools Toledo has to offer St Francis and St Ursula.

 

Projected Proforma

 

Income

 

Purchase Price

$174,000

Rents

$6,300

Projected Rehab

$40,000

Expenses

2,000

Contingency

$16,000

NOI

$51,600

Carry Cost

$20,000

Cap Rate

21%

 

 

Market Value

$645,000

 

 

LTV

39%

Total Cost

$250,000

Net Profit

$395,000

 

 

 

 

Past Projects

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Contact Information

Contact our firm to learn how we can assist you with your real estate projects.

Email
info@realreturnrealestate.com

Phone
(866) 245-7726

Fax
(619) 243-0092

Mail
1552 La Playa Ave #3-311
San Diego, CA 92109


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