TURNKEY COMPLEX

*** ********* ***, ********, MS

14.14% return

SP: $1,899,900

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Property Description

PERFECT RENTAL!!!

32 x 2bed/1bath and 16 x 1bed/1bath, total of 48 units. Only 39.5k per unit. ALL BRICK. NEWER CONSTRUCTION, BUILT IN 1998. Central heat and air. City water and sewer. Seperate electric meters. 14%+ NET RETURN ON INVESTMENT!!! Built originally as USDA Housing Project. Highest quality construction. No deed or income restrictions today!!! Has an office with a laundry area.

Do not miss out on this amazing opportunity.

Property Information

Listing statusActive
Property typeMulti Family
Total units48
Total bedrooms80
Total bathrooms48
Building size49,215 sq. ft.
Lot size4.6 acres
Year built1998

County******** County
Subdivision********** *********
ConstructionBrick/Frame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingCentral
CoolingCentral

Property Financial Summary

Sale price$1,899,900
Estimated rehab¹$0
Total investment$1,899,900

TypeProforma

Gross income (annually)$403,200
Operating expenses (annually)$134,468
Net income (annually)$268,732
Gross return21.22%

Gross income (monthly)$33,600
Operating expenses (monthly)$11,206
Net income (monthly)$22,394
Net return14.14%

Property Income & ExpensesMonthlyAnnual

Income

Building 1
Unit 1a: 1 bed / 1 bath$600/month$7,200/year
Unit 1b: 1 bed / 1 bath$600/month$7,200/year
Unit 1c: 1 bed / 1 bath$600/month$7,200/year
Unit 1d: 1 bed / 1 bath$600/month$7,200/year
Building 2
Unit 2a: 1 bed / 1 bath$600/month$7,200/year
Unit 2b: 1 bed / 1 bath$600/month$7,200/year
Unit 2c: 1 bed / 1 bath$600/month$7,200/year
Unit 2d: 1 bed / 1 bath$600/month$7,200/year
Building 3
Unit 3a: 2 bed / 1 bath$750/month$9,000/year
Unit 3b: 2 bed / 1 bath$750/month$9,000/year
Unit 3c: 2 bed / 1 bath$750/month$9,000/year
Unit 3d: 2 bed / 1 bath$750/month$9,000/year
Unit 3e: 2 bed / 1 bath$750/month$9,000/year
Unit 3f: 2 bed / 1 bath$750/month$9,000/year
Unit 3g: 2 bed / 1 bath$750/month$9,000/year
Unit 3h: 2 bed / 1 bath$750/month$9,000/year
Building 4
Unit 4a: 2 bed / 1 bath$750/month$9,000/year
Unit 4b: 2 bed / 1 bath$750/month$9,000/year
Unit 4c: 2 bed / 1 bath$750/month$9,000/year
Unit 4d: 2 bed / 1 bath$750/month$9,000/year
Unit 4e: 2 bed / 1 bath$750/month$9,000/year
Unit 4f: 2 bed / 1 bath$750/month$9,000/year
Unit 4g: 2 bed / 1 bath$750/month$9,000/year
Unit 4h: 2 bed / 1 bath$750/month$9,000/year
Building 5
Unit 5a: 2 bed / 1 bath$750/month$9,000/year
Unit 5b: 2 bed / 1 bath$750/month$9,000/year
Unit 5c: 2 bed / 1 bath$750/month$9,000/year
Unit 5d: 2 bed / 1 bath$750/month$9,000/year
Unit 5e: 2 bed / 1 bath$750/month$9,000/year
Unit 5f: 2 bed / 1 bath$750/month$9,000/year
Unit 5g: 2 bed / 1 bath$750/month$9,000/year
Unit 5h: 2 bed / 1 bath$750/month$9,000/year
Building 6
Unit 6a: 1 bed / 1 bath$600/month$7,200/year
Unit 6b: 1 bed / 1 bath$600/month$7,200/year
Unit 6c: 1 bed / 1 bath$600/month$7,200/year
Unit 6d: 1 bed / 1 bath$600/month$7,200/year
Building 7
Unit 7a: 1 bed / 1 bath$600/month$7,200/year
Unit 7b: 1 bed / 1 bath$600/month$7,200/year
Unit 7c: 1 bed / 1 bath$600/month$7,200/year
Unit 7d: 1 bed / 1 bath$600/month$7,200/year
Building 8
Unit 8a: 2 bed / 1 bath$750/month$9,000/year
Unit 8b: 2 bed / 1 bath$750/month$9,000/year
Unit 8c: 2 bed / 1 bath$750/month$9,000/year
Unit 8d: 2 bed / 1 bath$750/month$9,000/year
Unit 8e: 2 bed / 1 bath$750/month$9,000/year
Unit 8f: 2 bed / 1 bath$750/month$9,000/year
Unit 8g: 2 bed / 1 bath$750/month$9,000/year
Unit 8h: 2 bed / 1 bath$750/month$9,000/year
Total$33,600/month$403,200/year

Expenses

Water bill$2,030/month$24,359/year
Property Taxes$4,453/month$53,438/year
Insurance (estimated)$2,303/month$27,631/year
Waste Collection$195/month$2,340/year
Lawn care and Maintenance$271/month$3,250/year
Maintenance reserve$1,667/month$20,000/year
Electric bill$288/month$3,450/year
Total$11,206/month$134,468/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

Q: Why is the property address and location information hidden?
A: This property is a premium property and is completely off-market. Full access is available to premium clients only. If you are not a premium client, we require to have an executed non-disclosure agreement on file in order to share the property details with you.

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