Description

I am interested in selling my 8 unit apartment building. Property pays all it\'s bills, and owner, and maintenance. Property has been upgraded extensively throughout. Majority of deferred maintenance has been completed. 12% cap rate on this property. Good return on investment and excellent tax benefits. Low property owner involvement on this one. Owner could live in part and rent remainder out. I am selling because I went through a divource and am trying to reduce number of properties in my portfolio.

Lenders will only lend 75% LTV so you will need to have some equity in the deal if you want to buy it. Please be realistic with the financial requirements in order to buy a commercial property. I am underwater on the loan so I can not provide seller financing. I will have to pay loan down in escrow.

I AM NOT INTERESTED IN A SALE/LEASEBACK ARRANGEMENT. THERE IS NO WAY TO MITIGATE ALL RISKS TO BUYER AND SELLER.