Huge Price Drop – Commercial Property Investment

HUGE price drop on this off-market deal in Jacksonville– Need to sell it fast!

Buy it now at a 12% CAP and start collecting cash flow immediately, make some cosmetic improvements, increase rents and hold or sell it at about 8% cap for a nice profit!

Cash offers only please.

DESCRIPTION:
24 units, 2 two-story buildings on East side of Jacksonville (a B location)
Solid CBS construction with flat shingle roof
Below market rents
All units are 1 bed, 1 bath.
95% occupancy
Guaranteed Income via HUD-VASH Program for most tenants
Laundry room additional income
Units independently metered
Located in desirable South Riverside area near desirable San Marco area in Jacksonville, FL Needs TLC

Property Type: Multifamily
Property Sub-type: Garden/Low-Rise
No. of Buildings: 2
No. of Stories: 2
Year Built : 1964
Building Size: 17,575 SF
Construction: CBS

Unit Mix
One-bedroom, One bath: 24 Units
Occupancy: 95%

Actual NOI: $86,952

NEW Purchase Price: $725,000 NET (was $760,000)
Low Price per Unit: $30,208
Cap Rate: 12%

TERMS:

Must be ready to close Fast!
Cash Offers only
10% Earnest money
7 day inspection period max.
Possible Seller Financing
____________________________________________________________

For more information:

Mike Cathell,
Broker/Owner, Investment Property Consultant

Real Estate Services of SWFL, LLC
Real Estate Services of Citrus County, LLC

Cell:  (239) 770-6250   Fax:  (239) 288-2505
Email:  InvestSWFL@gmail.com
 

 

#Commercial Property  #Commercial Property Investment  #Multifamily Investment

#Multi-family investment  #income producing property

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