MLS Number 72361206
- Commercial 5+ Residential
- Year Built 1900
RARE BRASS RING, Assemblage of Multi Family Investment Property with one entrepreneur. Consisting of 20 Locations and 36 Total Units, 7-SFR, 12-Two Family, 3-Three Family & 1-Four-Family. 100% Occupied & deleaded all within a few mile radius of MGM Casino & each other. Gross Operating Income=$381,300, Expenses=$151,521, Net Operating Income=$229,779, Projected Annual Debt Service=$129,432, Cash Flow Before Taxes=$100,374, Debt Coverage Ratio=1.78, CAP Rate=10%, Cash on Cash Return=20.07%. Seller's goal is to own non-residential commercial real estate and would consider accepting trade for all or part of this residential property assemblage. Realtor.com Estimated Value $2,360,160. City Assessed Value $2,274,800. What this indicates is purchasing this package a 10% CAP Rate leaves meat on the bone. *$63,889 per unit average is a steal on the 7 Single Families.
Listed by Mark DiFranco of DiFranco Realty