60 Unit Apartment Complex - Cincinnati

[jerry landau]

Description: Presidents Court is a 60 unit Class C apartment complex (2 buildings)

 Location:  OH 45221. Hamilton County

 Purchase Price: $ 625,000.00 + 4 points

 Date of Construction: Built in two phases 1961 and 1973

 Building Square footage:  Total 32,268 sq. ft.

 Acreage: 1.538 acre

 The unit mix:   54- 1 bed/1 bath / rent range from $ 400 - $450

3- 2 bed /1bath /rent for $ 500

3- 3 bed/2 bath / rent range from $ 550 - $729

 Occupancy: The current Occupancy is 67%.

 Cap Rate: The going in cap rate 12% on current $75,900 NOI with a projected 20% cap @ 90% occupancy

 Net Operating Income:  Current $75,900.00

 Projected Net Operating Income: $126,250.00 at 90% occupancy using a 50% expense ratio.

 Gross Scheduled Income: $ 315,624.00

 Financing Available 

Protocol:  MFA, LOI & POF

[e-mail]

 

[Robert Mann]

Hello Jerry,

Please let me know if you still have this property available. Please include what type of financing is available as listed.

Thanks

Send information to [e-mail]

 

[Chris Discepolo]

Well, I am interested.  But, I need to see the #'s further.  Please contact me at [e-mail] or call 732-995-3226

Thank You

Chris Discepolo