As-Is Sale. The decided opinion was to sell off our largest vacancy-cost asset as we move into the busy season for our other business.There is still plenty of money in this deal, especially for someone with construction experience.
Older 8 Plex, All 1 bed/1 bath. New Roof/Decking (Malarkey Vista) 2025, New Exterior Staircase, Framing & Metal around windows Installed 2025. Interior gutted enough to fix all mechanicals and rebuild. 20+ dump trailer loads of trash and material removed from the property. Sewer main fixed. Electrical permits pulled, multiple units rewired and up to local code. All electrical can be complete before sale at listing price. Mini splits w/heat pumps for each unit are included with the sale. There is a basement at this property for easy plumbing/electrical access. $376k ARV (2024) based off of 2024 FMR. In 2025 we had a 6% increase in FMR, meaning the ARV should increase to around $398k. This project can be finished for $80-150k depending on the abilities of the owner functioning as the GC.
I have a portfolio of cash flowing properties that can be purchased alongside this. This building will continue getting renovated until the building/portfolio sells. Call me (Jacob) with any questions - 2172730505