635 7th street Paris Texas 75460, $695
Units: 120
Year Built: 1978*
Lot: 8.5+ Acres*
Excellent Unit Mix containing 1,2,3, and 4 bedroom Units. This is set up to be town home style living.
Property centrally located to the Main Street in the town, with the area being a High Occupancy Market across the board.
Currently the building needs a complete repositioning, but projections indicitate the building will throw off almost $15,000 positive cash flow a month, after repositioning.
This is a great chance to buy into a steady market, with an upside.
Units: 120
Year Built: 1978*
Lot: 8.5+ Acres*
Excellent Unit Mix containing 1,2,3, and 4 bedroom Units. This is set up to be town home style living.
Property centrally located to the Main Street in the town, with the area being a High Occupancy Market across the board.
Currently the building needs a complete repositioning, but projections indicitate the building will throw off almost $15,000 positive cash flow a month, after repositioning.
This is a great chance to buy into a steady market, with an upside.
Property Highlights
- 120 Units
- Great Unit Mix, thus allowing you to serve the single person or the large four to five person family
- Projected Rents are Lower then Market, thus strong Upside Potential!
- 1-4 Bedroom 1-2 Bathroom Units Offered
- Amenities are Planned
- No Common Areas, and Units are all Metered to keep Expenses Low!
- 11.87% CAP Rate @ $3,000,000 Financed
- Turnkey Purchase Option
- Excellent Location close to Public Transportation & Major Through Fair.
- Strong Market Demand in a desirable Texas Market! Few Owners Sell!
- Townhouse Style Floorplans offering generous square footages!
- Campus has large Green Areas for Recreation
- Our turnkey Rehab Plan includes Updated Modern Open Floor Plans!
- $1,000,000 in Projected Equity after Repositioning Costs
- Low Down Payment Option
Property Description
Income and Expense Breakdown:
Projected Monthly Income
22 - 1/1 - $8,360.00
40 - 2/1 - $19,200.00
38 - 3/2 - $21,850.00
20 - 4/2 - $13,000.00
Projected Monthly Gross Rental = $62,410.00
Projected Annual Gross Rental = $748,920.00
Add 2% for Misc Income = $763,898.40
Projected Loss to Gross = 12%
(Vacancy + Bad Debt)
Projected Annual Effective Gross Income = $672,230.59
Projected Total Monthly Expenses = $25,235.67
Projected Total Annual Expenses = $302,828.00
Projected Net Operating Income = $369,402.59
Projected Debt Service at 3.0 Million Finance @ 4.88% on a 5 Yr Balloon with P/I=
$15,885.35 Monthly
$190,624.20 Annually
Projected Monthly Positive Cash Flow=
$14,898.19
Projected Annual Positive Cash Flow=
$178,778.39
