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Investment project – 12 apartments fully refurbished for $300,000 with a 24%+ yield.

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Investment project – 12 apartments fully refurbished for $300,000 with a 24%+ yield.
 
Investment project – 12 apartments fully refurbished for $300,000 with a 24%+ yield.
Investment project – 12 apartments fully refurbished for $300,000 with a 24%+ yield.
Investment project – 12 apartments fully refurbished for $300,000 with a 24%+ yield.
Investment project – 12 apartments fully refurbished for $300,000 with a 24%+ yield.
 
Contact Person:
 
Location:
Indianapolis, Indiana, United States
Date:
April 17 2014
Description

In Indianapolis, Indiana we have an amazing multi-family investment opportunity for sale.

Each building has 12 apartments, six of the 1 bedroom and six of the 2 bedroom layout.
The 1 bedroom layouts average 570 square feet & the 2 bedroom 740 square feet per unit.

The average rents per apartment in the immediate area in April 2014 are shown in the tables, giving a blended average of $500 per apartment per month.
12 apartments would therefore generate a gross annual income of $72,000 per annum.

There are 5 buildings for sale; the apartments in each building require a certain amount of renovation. Renovation costs vary per apartment but others on the same complex have cost between $1,500 for light work to $10,000 for a full refurbishment. We have full recent documentation showing these costs.

The buyer should budget for $7,000 per apartment for renovation work - $80,000-90,000 in total.

The purchase cost per building for all 12 apartments is $210,000.

Total estimated project cost for 12 fully renovated apartments is therefore approximately $300,000

$72,000 income against the $300,000 total purchase and renovation costs will give an annual income yield of 24%

If the renovation is completed for $4,000 per apartment the yield jumps up to 27%.

Details
Furnished:
No
Bed Rooms:
2
Broker Fee:
Yes
Pets Allowed:
Yes
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