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OM08. Portfolio of 671 units in the southern part of Atlanta, Asking Price: $21.5M
Portfolio purchase price of the 671 units is $21,500,000plus 2%
This is a brand new portfolio that has not been marketed before as a portfolio
The main difference's now are that his properties are completely renovated by the seller and his professional rehab team, leased up to 90% portfolio wide
Since there is approximately 70 units’ vacant units that are completely turnkey, the net operating income in the near future will be over $3,000,000
Given the $3,000,000 (+/-) NOI, the cap rate is and will be in the 13.5%-14% range
This portfolio is turnkey, room to grow as the last 10% of the vacant units are to leased up to allow the cap rate/net operating income to grow substantially
All of the units have been brought up to rent ready status
There should be a full price offer as the high 13% cap rate & 90% occupancy rate will bring the more experienced investor that is walking into money, the first day
More information will be disclosed after signed NDA.
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