Elizabeth, NJ 3 family brick building cash flow opp.

[Charles Beltran, PHP]

Elizabeth, NJ 3 family brick building cash flow opportunity
 
1st floor 2br/1ba (currently rented $950), 2nd and 3rd floor 3br/1ba vacant.
Property has a large unfinished basement with own entrance/exits partitioned off from furnaces and water heaters.  Extra income potential: possibly adding coin operated washers and dryers in basement?  Each floor has separate utilities which tenants pay individually.  10-15K Repairs total for 2nd and 3rd floor.

All separate utilities.

Estimated Rents: $950 (1st flr.) + 1,050k (2nd flr.) + 1,050k (3rd flr.) = $3,050

[Charles Beltran, PHP]

Shar,

There were a couple of buyers ready to go for this one. If the deal is a true deal, funding is fairly easy to get. Hard money lenders would easily lend on this type of deal. You can attend TriState Mixer events to find them. Some say they lend however, they're just brokers and typically have higher rates/don't really lend often because they don't recognize a good deal. Meet me at the TSM meetings and I'll try to introduce you to the real ones that lend directly/have lent to our TriState Mixer members.

[Shar Morton]

Hi Charles, 

This opportunity sounds promising.  One Question, where does the financing for a project like this come from?

[Robert Mann]

Hi Charles,

Sorry i missed this one. Please keep me in mind as this is a particular area of interest.

Thanks

[Gwendolyn Horn]

Hi Charles

What area of Elizabeth or street is the property located, also what is the price??

Thank you

Gwendolyn Horn

[e-mail]

[Charles Beltran, PHP]

Sorry all... 

 

This cash flow property sold in (1) day!

 

When we have other awesome cash flow or whole sale deals again, it'll be posted here on TriState Mixer! :)