We are proud to present this contract assignment "wholesale" deal:
EXCELLENT FOR value add or project investors! Completely vacant property! The complex was completely before the flood and brought in more than $31K per month! In high growth, good rental are in Northwest Houston 10 minutes to downtown! 7 one bedrooms, 36 two bedrooms and 8 three bedrooms. All 1 baths. Absolutely rehab ready! Rents were low before Hurricane Harvey, here is your chance to improve your CAP rate tremendously! Fully rebuilt, and stabilized at a 8.5% CAP RATE, ARV is scheduled at $3.8 Million! Bring your value add, project rehab warriors! It is currently completely empty save for a skeleton crew.
·Opportunity to start fresh in a new direction!
o ELDERLY CARE
oASSISTED LIVING FACILITY (total of 103 bedrooms!)
oGOVERNMENT OR LOW INCOME HOUSING
oOr just keep as was and rent it to brand new tenants!
·Pre-flood, gross income average of $31K per month, easily increased to $43K after rehab!.
·Very spacious units. 1 beds at 725 sq ft, 2 beds at 835 sq ft, 3 beds at 1000 sq ft!
·Sales comparables support ARV of $3.8 Million (see 1704 Sam Wilson St. comp selling at $72K per unit)
·Already separately metered for electricity, tenants pay their own light!
·See financials attached. All tenants paid electricity. Rent includes water, gas and trash
·Metal gate in front is operational and works great!
NO SELLER FINANCING BEING OFFERED.
3rd PARTY FINANCING AVAILABLE!
Also please remember that our team at Sanmore Investments, LLC can help you finance up to 100% of the cost of the purchase and rehab on this multifamily using hard money and up to 85% of the cost with conventional financing!
**Disclaimer: Any agreement to the terms of this offering will be evidenced by a contract assignment. The above price includes an already agreed upon purchase price plus a fee to assign equitable interest. Sanmore Investments and/or its partners is providing you, as a voluntary and exclusive member, access to this off market property and we have full intention on closing on this property per our contractual obligations, to include assigning equitable interest if applicable. THIS AD IS FOR MARKETING PURPOSES ONLY. Any properties seen on this email or emails like it are currently under contract with the owners of record with the full intention to close and fund. Any mention of "sale," or the like, refers solely to assigning equitable interest of a contract and there is no claim or intention to sell property or act as an agent in any capacity. This is intended for investors only.
