Portfolio of single family rental homes acquired and managed by a corporate executive as an equity builder. Income has upside potential as these properties haven't seen a rent increase in several years, and all maintenance has been outsourced to licensed professionals. This is a great opportunity to acquire an instant portfolio of high-quality assets being offered at a bulk rate discount near assessed value.
This is a great opportunity to own The PHOENIX APARTMENTS. The complex features three 13-unit brick apartment buildings located near US Highway 41 in Evansville, Indiana. All buildings are full brick exterior with steel beam construction and all interior walls are solid concrete & plaster, per seller. Current owner has worked very hard to turn these apartments around getting the units renovated and occupied for a good, positive cash flow. There is potential for increased return by completion of the final 6 units. Financials available upon request. CAP Rate based on Seller's financials.
Nice two bedroom apartment upstairs rented $600/month. 18 NW Sixth St rented for $600/month to Tenant since 2003. Eight private offices, conference room, law library, file room storage and 1 car garage. Rented law office $600/Month. One half block from new arena.
This housing portfolio is a significant investment opportunity for a long term hold strategy. The portfolio is held and managed by AMA Estates. All nine homes in the portfolio are preforming at a 10.50 percent CAP rate, and have been professionally leased up and managed since the properties have been acquired. This is an opportunity for an investor to buy and hold and eventually sell off homes at a lower CAP rate over time. Either strategy yields a significant upside.