Fully rented as of December 2013.12 unit apartment complex consisting of two buildings. There are 7 1BR/1BA units and 5 2BR/1BA units. Rooms rent for as low as $385 per month and as high as $450. Projected gross monthly income - $4,845. All brick, central air, paved parking, wooded lots on each side. 10% CAP (including 10% vacancy and 10% management fees!!!) Good traffic to Wal-Mart makes these units easy to rent. Total electric with separate meters.
16 Unit Weekly apartment complex and community center with additional development lots. Selling price at current income is an attractive 14.37% CAP rate. This property is in the path of development, revitalization, and is near the highly traveled Swamp Rabbit Trail. NOI: $ 61,700
Zoned R9; All 1 bedroom/1 bath units; Asking rents of $529/month - well below market value