This 24-unit apartment complex, consisting of five buildings and located five minutes from Doak Campbell Stadium on the campus of Florida State University, presents an investor with a great opportunity to own a major cash-generating asset. The unit mix is (16) 1 bedroom, 1 bathroom, 550 – 700-square-foot units and (8) 2 bedroom, 1 bathroom, 850-square-foot units. There are currently twenty-two occupied units generating just over $17,000 per month in rent, which is well below the market rate. This complex also has seventeen updated units, so an investor will only have to update seven units, reducing the amount of capital an investor will need before generating market rent. We believe a one-bedroom unit in this area will generate $900 per month and the two-bedroom units will generate $1,100 per month. This equates to just over $23,000 per month in revenue. 

To get the seven remaining units up to market standards, we recommend full interior updates costing about $10,000 per door. With roofs from 2011, we also recommend replacing the roofs on all five buildings, so an investor will not have to worry about them while they collect their six-figure returns. 

Opportunities with these returns tend to go quickly. Do not miss out on your next cash cow and contact your EquityPro Advisor today.