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Off Market Multifamily Property
Most investors are searching the same public websites. That is why they keep seeing the same tired multifamily deals. Right now, everything I am seeing on the MLS and LoopNet is either not remodeled, not rent stabilized, or sitting well below a 5.5% cap rate. Then this crossed my desk. An off-market 8-unit multifamily property. Fully renovated. Rent-stabilized. Offering price: $2,179,000. Price per door: $272,375. Current building rent: $14,370 per month. Scheduled gross income: $172,440. Net operating income: $119,821. Cap rate: 5.50%. That is why off-market access matters. A buyer searching only public websites may never see this property. A buyer working with the right agent may get a look before the wider market even knows it exists. This is the kind of opportunity I look for. Not because every off-market property is good. Because when the numbers are stronger than what is sitting in the public market, the question changes. It is no longer, “What is available?” It becomes, “Who is actually seeing the better opportunities first?” Call or text Michael Hankerson directly at 602-770-7205. Michael HankersonHankerson Team | Luxury Division Fair Housing Opportunity. Not legal, tax, financial, or investment advice. Property details and financials are based on the seller-provided offering summary. Buyer should verify all information during due diligence. The details are in the PDF below
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