Overview
here is some basic info on this building..:
20 1bed/1bath’s (will rent at lowest 550/mo. to 650/mo.)
6 2bed/1bath’s (wil rent at lowest 650/mo. to 850/mo.)
1 Laundromat (not just for the project, but for the area…) income will be added later, not at planning stage..
26 unit will bring in = 15,500 per month.. (NOT INCLUDING THE LAUNDROMAT INCOME)
DEDUCT A THIRD FOR NOW FOR EXPENSES (HI) [will be lower for sure]
LEAVES = $126,000 PER YEAR
PURCHASE = 350,000
RENOVATION = 350,000 or less.. [Pretty much an A to Z Project, only its a concrete structure with decent roofs,
so not too heavy]
Also, i took the ugliest pics i could find, so as to review the worst of it, the rest only goes up from there…
i have been to the site with my GC, and we went into every unit.. its a block from coca cola jax center (huge)
so all the people there would totally rent form us…
it may be worth it to Fence the property into a “gated community” another 30-40k but will do a whole lot of
up-scaling the project.. [not on the plan as of now…]
CALL ME IF YOU HAVE QUESTIONS, AS THIS IS ONLY A QUICK SUMMERY…
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Thank You Very Much,
sincerely
