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**Amazing 26 unit texas multifamily apartment**

Sell.com    Real Estate    Commercial For Sale    2TC4XS   

HERE IS A POTENTIAL SELLER CARRY-BACK OF 26 CLASS B APARTMENTS IN THE CENTRAL TEXAS CITY OF KILLEEN, TEXAS TO A QUALIFIED BUYER . THIS HAS GREAT METRIC'S AS THERE IS A WAITING LIST TO MOVE IN

SELLER FINANCING TERMS:

Purchase price - $2,000,000

Seller financing down payment - $487,500(25%)

Seller MUST be in first position. the 25% down payment must be cash, no loans (hard or new)

Interest rate: 6.9% fixed

Amortization: 30 years

Term: 24 months with two 6 months extensions at $10K each. Balloon payment at maturity.

No app, legal, loan, third party fees (you'll save $20K!)

26 units in Central Texas - "B" Quality Finish Out - Turn Key Investment Opportunity.

Fully rehabbed asset with a "B" quality finish out, far outpaces any other property in the area.

Double paned windows, hardie board siding, exterior/interior paint, pergola and BBQ grills, courtyard

New roofs, A/C units, hot water heaters, appliances; gated walk-in access; warranties apply

Current Status:

Consistently 100% occupied -with a waiting list.

Current rates at $575, and set to move up to $625.

Current gross potential rent is $14,950 (100% at $575).

Monthly collections now above $14,000.

T-12 NOI through December 2019 is $98,994 and still trending upward.

Projected NOI after next rent increase is $119,000.

UPSIDE in rent increases

UPSIDE in implementing RUBBS for utility recapture

CMBS loan qualified; up to 3 yrs interest only payments!

Building Size 14,420 SF

No. Units: 26 Average Occupancy:100%

Property Type: Multi-family No. Stories: 2

Property Subtype: Apartment Year Built: 1970

Apartment Style: Low Rise Parking Ratio: 1.8/1,000 SF

ABOUT THIS PROPERTY

This asset was purchased vacant and in need of full rehab. Over the course of the last year, the current owners infused over $350,000 of extensive interior and exterior improvements including new roofs, A/C units, hot water heaters, interior and exterior paint, new branding and signage, metal doors, double-paned windows, a courtyard pergola, BBQ pits and benches, ceramic tile or vinyl plank flooring, black appliances, countertops, backsplashes, fixtures, baths, ceiling fans, two tone paint finishes, programmable thermostats, keyless front door code entry, and more! Warranties for appliances, A/C, and hot water heaters apply. The finish out is B-Class quality!

The property has been fully stabilized since October 2018 with gross potential monthly rent of $13,650. With full stabilization now at hand, management will soon implement a rent increase from $525 to $575. Short term seller financing is available (contact broker). Also, lender has underwritten the deal at 75% LTV at 4.875% fixed; 10 yr term; 1.25 to 1.00 DTIR, 25-30 yr amortization; no prepayment penalty.

An investor has an excellent opportunity to acquire a fully rehabbed, fully stabilized turn-key B-quality asset in the heart of Killeen, Texas, a growing secondary market in central Texas, and in the middle of the North Killeen Revitalization Program area that allows for incentives to owners to redevelop or rehab their properties.

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SQ. FT.

1+1 26 $550.00 550 - 565

ADDITIONAL INFORMATION IS AVAILABLE TO QUALIFIED BUYERS ONLY !

THIS PORTFOLIO SALE IS OFF THE MARKET MUST STAY OFF THE MARKET, PLEASE DO NOT LET THIS PORTFOLIO GO VIRAL

THIS IS A PRE-DUE DILIGENCE AND NOT A FORMAL DUE DILIGENCE PACKAGE. ONCE THE BUYER AND THE SELLER EXECUTE THE PURCHASE AND SALE AGREEMENT AND THE BUYER OPENS UP THE CONTRACTED ESCROW TRUST ACCOUNT WITH THEIR CONTRACTED EARNEST MONEY DEPOSIT, THE SELLER WILL THEN PROVIDE THE BUYER WITH ALL OF THE UPDATED P&Ls, RENT ROLLS, TENANT'S LEASES AND ANY VENDOR CONTRACTS THAT EXIST TO CLOSE THIS TRANSACTION.

Buyers are advised to do their own independent due diligence and research before commuting with the purchase

NOTE: - Please do not reply directly to this email

- Price is firm and not negotiable.

PLEASE, NO TRANSACTIONAL FUNDING.

REQUIRED TO MAKE AN OFFER:

2. LETTER OF INTENT

3. POF (BANK OR FUND STATEMENT)....NO EXCEPTIONS!


**Amazing 26 unit texas multifamily apartment**
**Amazing 26 unit texas multifamily apartment**


$2,000,000.00
(Negotiable)

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Seller Info
Sign-in Name: javonvailes (0) 
Member Since: 18-Jun-2020
Last Login: 3 weeks ago
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Listing Info
Asking Price: $2,000,000.00 (Negotiable) US Dollars
Quantity: Always in stock. (Mint condition)
Location: United States kileen, TX [United States]
Refund Policy: Ask seller for details.
Date Posted: 3 weeks ago



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