Sold $285,000 - Triplex
Shhhhh. Just for My Folks. (Whispering)
Here is another multi-unit that pencils out at a mouth watering return and looks like it is about to come available….and right now you are the only ones who know about it. Here’s the specifics:
a) This is one I told you about 6 weeks ago. At that time someone else (not my client) won the bid and went into escrow. However, the agent (with whom I created an excellent rapport) called me today to let me know it may be falling out of escrow in a couple of days.
b) Looks like it can be delivered completely vacant, which makes it an even more valuable acquisiton than when I sent out my email blast 6 weeks ago.
c) renovated and re-rented it should generate approximately $4K of income. I estimate it will need about $50K of rehab. At these figures the cash on cash return should be about 18% (!) cash on cash return !! You may have to buy it all cash but then convert it to a conventional loan once you have it fixed up.
Let me know if you want it or want more info. This is a really really good one.
