Property Details
Commercial | Apartments
  • Sqft: 5280
  • Lot Size: 19500
  • No of Unit: 8
  • # of Stories: 1
  • Cap Rate: 15%%
  • Built: 1950

EXCELLENT Landlord Opportunity with Great Cash Flow Potential or Rehab & Flip (8) 2 bedroom & 1 bath units built in 1950 with a 19,500 sqft lot that is fenced & sides to church*Needs complete rehab, except roof appears to be in good condition*Could be used as an Assisted Living with 21 beds because the kitchen could be additional bedroom in 7 units & 1 unit would be office, kitchen and dining room*Can you say CASH COW???

Property Auction Terms and Disclaimers
  • Seller will only accept for fixer upper properties.
  • Property is being offered "AS IS, WHERE IS".
  • There are no inspection or financing contingencies.
  • Bidders must inspect property before bidding ends or ask for inspection contingency to take place within 48 business hours of acceptance. If bidder asks for this contingency they will be subject to losing their $997 deposit for taking the property off the market if they don't close on property. If they do close then this $997 will go towards buyers earnest money.
  • All pictures, details or descriptions of any property, condition of title, value or otherwise is provided for informational purposes only and may not represent the true and current status of the property now or at the time of sale.
  • Title is open for subject property, and Seller warrants their aren't any liens on property that will prevent it from closing.
  • Buyer will receive a General or Special Warranty Deed, depending on title.
  • Seller will only accept Cash, Line of Credit or Hard Money Loans for fixer upper properties.
  • The Buy Now feature allows users to buy a property NOW instead of waiting for the auction to end.
  • Seller reserves the right to a final review and can accept or reject any offers if highest or Buy Now Bidder doesn't provide satisfactory verification of their ability to close on the property.

$120,000

Current Highest Bid

OR

Can't wait for the auction to end?

$120,000

Property Fees and Transaction Information:
  • Buyer will pay a $467 buyer premium to buy your property at closing & funding.
  • Buyer pays for owners title policy, all escrow fees and will be responsible for property taxes & HOA fees from the day of closing until the end of the year. Seller pays for their prorated share of property taxes & HOA dues up to the day of closing/funding.
  • Buyer will be responsible to buy survey, HOA documents and resale certificate if needed.
  • Earnest Money Deposit is $2,000 or 2% of the Sales Price (whichever is greater).
Estimated Numbers

After Repaired Value: Verify ARV @ Fast CMA$350,000

Sellers Asking Price: $120,000

Estimated Rehab Cost: $143,019

Potential Profit: $86,981

Get approved for Hard Money with JET Lending, LLC

NOTE: These are ballpark estimates so please do your own due diligence for ARV and Estimated Rehab Costs.

Property Location
Showing Information
Open Home

There are no inspections of the inside of the property. Users have to bid based upon all of the information provided including a video of property.

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