CAP RATE 13.55%!!! CAP RATE = NOI / ASKING PRICE X 100 DO THE MATH!!!! (see below)
This beautiful, refurbished 4-unit brick apartment building is a landlord's CASH COW!!! The property features two massive 6-bedroom/2-bath units and two spacious 2-bedroom/1-bath units. Enjoy immediate cash flow with an estimated gross monthly income of $6,600 ($2,100/month for the 6-bed units; $1,200/month for the 2-bed units). Updated kitchens and baths. Newer windows, interior has been freshly painted and refinished floors. With all occupancy permits already finalized, add the kitchen appliances, and this high-yield multiplex is rental-ready. At an asking price of $450,000, this property represents an exceptionally strong financial opportunity with a projected Capitalization Rate (Cap Rate) of 13.55%!!!
Gross Annual Income: $79,200
-5% Vacancy Allowance: $3,960
Effective Gross Income (EGI): $75,240
Estimated Operating Expenses
$784 Taxes
Estimated Property Insurance $2,500
Maintenance & Reserves (5% of Gross) $3,960
Property Management (8% of Gross) $6,019
Admin/Misc Exp $1,000
Total Estimated Operating Expenses = $14,263
$75,240 - $14,263 = $60,977 (Net Operating Income)
