52 Unit Well-Maintained Verda Vista Complex

Verda Vista Apartment Complex – 52 Units:

• 4 all brick buildings
• 28 one bedroom units renting at $415
• 24 two bedroom units renting at $500
• Rents are below market
• All electric
• Tenant pays for water
• Private sewer system
• Great rural location
• 6.25 Acres, room for growth
• Central air
• Individual furnaces

Rent Income:   $250,730

Laundry:          $2,544

Total Revenue: $253,274

Expenses:

Insurance          $9,900

Taxes                $15,677

Maintenance     $12,120

Sewer               $2,850

Electric             $5,912

Water                $999

Trash                $3,288

Total Expenses: $50,746

Net Income:      $202,528

Potential Rental Income:

1br x 28 at $465: $156,240

2br x 24 at $575: $165,600

Total Potential Rental Income: $321,840

Total Potential Net Income:  $271,094

This property can be purchased individually, or with the 18 Unit Cimarron Apartment Complex – see listing for Cimarron on our current listings.  Asking $2,700,000 for both properties.