“Three Unit Property Opportunity”
Asking $120,000
Est. Repairs $45,000 *
Est. Repaired Value $260,000 **
Potential Gross Profit >>>>$95,000<<<<
Check out this Mixed unit opportunity, will need about $45k to fix and flip. Property consist of a 2bed apartment currently rented for $1,600. Second apartment is a 1bed 1bath at $800 per month. The store front is currently vacant and in need of work but can potentially rent for $900 per month. Although the apartments are currently rented and paying on time, they can use a little TLC. Most of the work will be in the commercial space. With taxes approximately only 2,943 per year the property will yield great cashflow. To optimize and get it fully rented it will need about $25k worth of work.
Below is a break down if you decided to keep it as a rental unit.
Gross Income – $29,600
Taxes – $2,943
Insurance – $1,000
5% Vacancy – $1,980
Net Income – $23,677
ROI – 16.32% (Return on Investment includes acquisition + $25k worth of work)
Please note estimates are our opinion on value based on the data gathered.
Please perform your own due-diligence
Comps:
(1) 915-917 Delaware St Sold for $230k on 07/23/24
(2) 1108 N. Delaware St Sold for $265k on 03/14/25
CALL OR TEXT JOHN JARAMILLO FOR MORE INFO AT 732-630-2627
IF YOU NEED FUNDING TO PURCHASE THIS PROPERTY OR ANY OF OUR PROPERTIES, PLEASE GIVE US A CALL AND WE CAN PUT YOU IN TOUCH WITH ONE OF OUR AFFILIATE LENDERS.
SERIOUS BUYERS ONLY PLEASE. Buyer must be purchased with cash, hard or private money, or line of credit and able to close within (10) days or less. 10% Non-Refundable deposit due within 48 hrs of acceptance. Property being sold “as is”, any and all inspections and certifications, including Certificate of Occupancy will be Buyer’s responsibility. Free and clear title, quick closing offered.
TO MAKE AN OFFER CALL John at 732-630-2627.
All information, regardless of source, should be verified by personal inspection by and/or with the appropriate professional(s). The information is not guaranteed. Measurements are solely for the purpose of marketing, may not be exact, and should not be relied upon for loan, valuation, or other purposes. The buyer is responsible at their sole cost and expense to obtain all required permits, approvals, and certificates, including but not limited to the certificate of occupancy and smoke detector certification.
*Estimate repairs are only an estimate, all buyers are encouraged to visit the property with the contractor and gather an estimate.
**After Repair Value is an estimate of what the property can be resold after repairs have been completed. All buyers should perform their own due diligence.