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 | Pros and Cons of Purchasing a Foreclosure Auction Property | | | There are many properties being offered at foreclosure auctions across the nation right now. Some are good investments and others are not.
Read More | | | How to Purchase a Fannie Mae Foreclosure Property | | | Purchasing a Fannie Mae property in my opinion is the easiest and best way to go right now if you are looking for a foreclosure property. Fannie Mae is government run.
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Property Details |
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| Property Information |
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| Project Name : |
4,000 sq. ft. 4-Plex for 55% LTV! |
| Property Type : |
2 - 4 Units |
| City : |
Members Only |
| State : |
Alabama |
| Zip Code : |
Members Only |
| County : |
Members Only |
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| Square Footage (GLA/ GBA) : |
4032 |
| Lot Size : |
Members Only |
| Lot Attributes : |
Members Only |
| Measurement : |
Sq. Ft. |
| Number Of Units : |
4 |
| Zoning Code : |
Members Only |
| Over All Property Condition : |
Light Fixer |
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| Property Description: |
Price: 70K
Repair: 8K
After Repair Value: 140K
Tax Appraised Value: 102K
4000 sq. ft. brick 4-plex comprised of 2br/1bath in each unit. This property
is located in the historic area of Ensley Highlands. A new Applebee’s has
been built down the street. By purchasing now would put you in a great
position whenever the full revitalization takes place. This apartment building
needs some cosmetic work such as: New appliances in all units and some
paint and carpet in a few units. New ceramic tile in all the kitchens and
hardwood floors are located under the carpet in the other areas. Refinish and
drastically increase the value. I would estimate that repairs should equal to
about 2k per unit. Potential rents per month for this building will easily be
$2000-$2400 per month. |
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| Purchase & Invesment Information |
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| Purchase Price : |
$70,000 |
| Investment Type : |
Wholesale Property |
| Investment Amount Needed: |
$0.00 |
| Equity offered to Equity Partner : |
0.00 |
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| Estimated Cash on Cash Return for Investor : |
Members Only |
| Contingency Expiration Date : |
Members Only |
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| Process Complete to Date: |
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 Members Only |
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| Why is the Property being Sold?: |
| Members Only |
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| Personal Invesment Details |
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| Will Seller Carry a Note : |
Yes |
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| Familiarity with Property : |
Somewhat Familiar |
| Familiarity with Neighborhood : |
Somewhat Familiar |
| Time Inveting in Realestate : |
1 - 3 Years |
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| Brochures / Flyer (1) |
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Market rent / Vacncy Information(0) |
 Flyer1
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Floor Plan / Site Plan (0) |
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