3900 Ray – Income 28-Family, 8.04% Cap

If you’ve been trying to find a GOOD INVESTMENT opportunity, you’ll want to take a closer look at 3900 Ray. With its mix of one, two, and three bedroom apts. (28 units total in 7 attached 4-families), along with its on target pricing, the property offers a new owner a realistic chance at earning a decent return. The reasonable rent rates, off-street parking, centralized location, and unit amenities translate into a LOW VACANCY rate year after year. When vacancies do come up, the units are easy to fill even in the slower months.

Plus, the property underwent a massive renovation with major updates to the plumbing, electrical, HVAC (central heating & cooling), and windows throughout. MODERN SYSTEMS offer peace of mind for everyone: less maintenance calls for owners and lower utilities bills for tenants.

It’s been really hard to find a good deal like this one in the current real estate market. Current rent roll at appx $18,745 a month, with a cap rate of 8.04%, with reasonable proforma numbers approaching 9.8%. Don’t miss your opportunity!