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Buildings By Owner | Buy, Sell & Lease Commercial Real Estate. Privately.
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Home For Sale Missouri High Ridge 3984
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Apartment Building For Sale By Owner

Apartment Wholesale Deal (15% Seller Carry; $0 PER MTH - 11% Cap)




3370, 3383-3405 High Ridge Blvd, High Ridge, Missouri 63049 United States
Description


Got this deal under contract. I will be closing it, but Im trying to find a partner or buyer early. Below are the terms FROM MY CONTRACT. I am looking for a 3% Finders fee. Looking for a debt partner for the downpayment.

Boulevard Apartments - 33 Units
Current NOI: $85,500
Will appraise for $1,200,000


3370, 3383-3405 High Ridge Blvd
High Ridge, MO, 63049



Purchase Price $775,000

First Mortgage $637,500
Lender Traditional Lending Institution

Second Mortgage $116,250
Lender 15% Seller Financing
6% interest; 3yr balloon;
No monthly payments. Lump sum
due in full at 3 yr maturity ($130,650).
Potential Monthly Annualized
Annualized Income At 14,400 172,800
Annualized Expenses 5100 61,200
Net Operating Income 9300 111,600



30% Vacancy Monthly Annualized
Annualized Income At 11,325 135,900
Annualized Expenses 5,100 61,200
Net Operating Income 6,225 74,700


15% Vacancy Monthly Annualized
Annualized Income At 12,225 146,700
Annualized Expenses 5,100 61,200
Net Operating Income 7,125 85,500




Boulevard Apartments Current NOI
Current Monthly Annualized
Income 12,225 146,700
Expenses 5,100 61,200
Net Operating Income 7,125 85,500



Cap Rate Value Cap Rate
712,500 12%
777,273 11%
855,000 10%
1,069 8%

Closing Date June 23, 2016


CONTACT ZEKE FOR MORE INFO
(210) 360-1627
virtualassistantcenter2016@gmail.com

Price: $775,000
Property Sub-Type: Apartment Building
Listing ID: 3984
Attachments

Map of: 3370, 3383-3405 High Ridge Blvd, High Ridge, Missouri 63049 United States

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