Amazing 3 Unit Multifamily in San Antonio- Amazing Rental Income Of $3320/Month
Get your amazing Multifamily Investment property is San Antonino Now! This is a cash flow king!
$325,000K on An Assignable Contract
Seller To Pay 1/2 Of Buyers Closing Costs, + A Home Warranty (Saves You Money)
Title Doesn’t Show New Additions Of The Two New Units.
Warranty and Fresh Remodel ensures you wont have any costly repairs as the deal comes with a new home warranty and was freshly remodeled in 2019, and the back unit was just completed here in 2020!
Unit A is right around 925 SQ FT Duplex Unit. Beautifully remolded
2bed 1bath Duplex Unit. Leased till May 2021 For $1185/month plus $40 for water.
Unit B is right around 925 SQ FT Duplex Unit. Beautifully remodeled
2bed 1bath Duplex Unit. Leased till August 1st 2021 For $1135/month plus $40 for water.
Unit C is a free standing brand newly built building with all of the modern upgrades of a 2020 place, the square footage around 576 Square Foot. would be perfect as another rental unit or just furnish and make into an AIRBNB Unit. This property has amazing potential for the savy investor.
This property exceeds the 1% rent rule! $3,320.00 collected each and every month from the home. Say you put 25% down on this property as an investment property and paid $325,000 for it. So 81,250 invested.
$3,320 /month rent (without AirBNB)
$1,429/month in Principle and Interest Assuming a 3.5% 30 year fixed.
$100/month for insurance
$461.75/ month for taxes
$1,329.25/ month profit left over
1,329.25 * 12= $15,951 Yearly Profit
So the true cash on cash return is $15,951/88,000 (down payment plus closing costs) = 18.13% Cash On Cash Investment.
Not to mention the instant $25,000-40,000 worth of equity right off the bat on day one as you are getting an amazing off market deal at a great wholesale price. Now since this property’s remodel in 2019 and was finished so well and comes with warranty you wont have to worry about costly repairs. Say this property appreciates at 6% a year and the true value is around $350,000 * 0.06= $21,000 in appreciation plus the $25,000 in instant equity.
Year One Ownership Return
$15,951 in Cash Flow Left Over
$25,000- $40,000 in Instant Equity
$21,000 in year one appreciation
Year One Profit is $61,951-$76,951 earned.
You almost have your entire downpayment 100% back within 12 month, then cash-flowing for the remainder of the loan term.
This is an assignment transaction for a 3 unit multifamily investment. We have an equitable interest in the property and we are assigning that interest to a 3rd party.
➤ Cash or hard money preferred
➤ $3,500 non-refundable deposit
➤ Buyer only pays partial closing costs, sellers will pay 1/2 title insurance and home warranty
➤ Property will be sold as-is
➤ Agents, add your commissions