$1,110,000
Owner-Financing
24 East Anchorage Apartments
(Past Listing, for illustrative purposes only)
Here is a collection of four four-plexes and an eight-plex offered by an owner who is
retiring from property management after acquiring and operating the properties for eight
years. "I want to give someone else the opportunity and convert my equity into a note
with a financially solid buyer," he says.
These are above-average units in size and amenities. Most of the units in the
fourplexes are three bedrooms, with in-unit washer-driers, fireplaces and Jacuzzis.
Experienced resident management is available for a new owner to consider.
Gross income $208,656 based on actual rents. Cost per unit $46,250. Price per room
$9,098. Cost per square foot $44.56. Gross rent multiplier 5.32. Net operating income
$108,655 based on broker's reconstructed and actual data. 47.9% expense ratio. CAP rate
9.79%. These measures compare favorably with other multifamily property transactions I
have completed recently or that have been reported to Anchorage appraisers.
|
