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32 Unit in Vincennes, IN 47591
32 Units Vincennes, IN 47591 šŸ’° Purchase Details Purchase Price: $2,000,000 ($62,500/unit) - Down Payment: $400,000 - Seller Financing: $1,600,000 (~5.1% interest) - Monthly Payment: ~$8,500/mo šŸ¢ Property Highlights - 32 one-bedroom, one-bath units - Two-story garden-style Class B community - Renovated in 2023 & 2025 - Adjacent to Vincennes University - Located in a Qualified Opportunity Zone - Value-add upside through lease-up (12 vacant units) šŸ“Š Financials (Actuals) Current Performance (T12 / In-Place) - Gross Income: $187,180 - Operating Expenses: $38,289 - Net Operating Income (NOI): $148,891 - Current Cap Rate (on $2,000,000 price): 7.44% - 11.7% cash on cash returnĀ  - Ā Conservative proforma cash on cash return Ā 17+% šŸ“ˆ Pro Forma - Conservative NOI: $170,000 - Pro Forma NOI: $213,693+ (as provided) - Upside driven by: - Lease-up of 12 vacant units - Rent growth on stabilized occupancy - Operational efficiency gains šŸ“Œ Value-Add Thesis - 20 / 32 units currently occupied - Immediate NOI expansion through lease-up - Renovated asset (2023 & 2025) - Strong spread between in-place yield (7.44% cap) and stabilized performance -
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A FEW MORE FOR THIS WEEK
92 Units (2 Properties) - Location: Daytona Beach, FL - Asking Price $11.85M - NOI & Cap Rate: $883,725, 7.45% - 80% occupied - Assumable Loan __________________________________________________________________________ - 67 Units Portfolio - Location: El Campo, TX - Asking Price $3.35M - NOI & Cap Rate: $337,170, 9.9% - 97% occupied - Consists of SFH's and duplexes - Seller Financing terms from seller I can either do 3.4M cash/hard moneyOr2M down with 1.4M financed on in a FIRST position by the seller at 6.5% on a 20yrAM ___________________________________________________________________________ - 175 Units SFH Portfolio - Location: Lubbock & Odessa TX (Most located in Lubbock TX) - Asking Price $12.5M - NOI & Cap Rate: $900K+, 7.2% - 92% occupied - Seller financing in 2nd position will be considered Seller Financing Terms - Purchase Price $12.5M - Cash at Closing $2.5M - Debt in Place $6.5M (wrapped) - Seller Carry: $3.5M in 2nd position @5%, year balloon - Close in 30-45 days _____________________________________________________________ -Ā 46 Units - Location:Ā Monroeville AL - Asking PriceĀ $3.2M - Recently appraised at $3.8M - NOI & Cap Rate:Ā $263,008, 9.40% -Ā 90%Ā occupied - BuiltĀ 1975 - NO seller financing
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ADDING MORE DEALS FOR THE WEEK
Look in PICK ME! LAST 2 POST OUR MY WEEK’S SOURCING ANY INTEREST LET ME KNOW ASAP!
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3 DEALS 1 POST
-Ā 44 Units Portfolio - Location:Ā Pine Bluff, AR - Asking PriceĀ $2.6M -Ā 82%Ā occupied - Current rent isĀ $24K/month, $283K per year - Consists of SFH's and multi units __________________________________________________________________________ -Ā 64 Units - Location:Ā Fairborn OH 45324 - Asking PriceĀ $6.45M - Cap Rate:Ā 7.5% -Ā 92%Ā occupied - BuiltĀ 1965, renovatedĀ 2021 _________________________________________________________________________ -Ā 19Ā UnitsĀ (14 x Luxury Residential Units on 1 yr leases, 5 x Commercial Units on 3 yr leases) - Location:Ā Bainbridge, GA 39817 - Asking PriceĀ $4.55M - NOI & Cap Rate:Ā $305,040,Ā 6.7% - BuiltĀ 1903Ā (Renovated 2025) -Ā 100%Ā occupied - Consists of 1-3 bedrooms residential units -Ā Value Add, 4,000 usable sqft to put additional 4 x 1 bedroom, 1 bathroom apartments in center of building
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