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My Client is seeking between $1,000,000 - $3,690,000 for an Acquisition
Posted by: Praveen Somashekar on 7/13/2008 11:20:42 PM
Funding Needed:
Above $1mil 		Category:
Real Estate / Construction 		Website :
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Location :
Memphis, Tennessee, USA 		Viewed : 126 times
Favorited : 1 times 		Share
Description:
Hi,

My Client is seeking between $1,000,000 - $3,690,000 to acquire a Multifamily Unit Property.

Description: 112 Unit Multifamily Garden/Low-Rise; $32,946/unit; NOI Proforma $366,670; Proforma Cap Rate 10.4% Stabilized; 21.9% Stabilized Cash on Cash;65% Current Occupancy; Occupancy 95% Proforma; 93,940 SF Net Rentable Area; 825 SF Average Unit Size; Average Market Rent $512; 42 buildings; DCR 1.24; Market Value: About $3.690,000; Debt Service: $223,904

All Repayment Plans and Terms are flexible. One possible scenario would be: Monthly payments to you for the full purchase price is $24,600.00 @ 8% and add in 49% equity is roughly another $2,900.00 which equals roughly $27,500. My client would be comfortable with a 24 - 36 month term without a prepayment penalty. All terms are flexible.

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