Purchase was made in August 2011 for $580,000. GRM was 8.3, with gross rental income totaling approximately $70,000 annually. Four of the six tenants use Section 8 vouchers for rental payment.
Includes Section 8 Tenants
Since purchase, buyers have made small modifications to the kitchens and bathrooms and intend to re-‐roof parts of the roof sometime in 2012.
Mid-‐City 6 Unit Building Three 2BD/1B & Three 1BD/1BA
As of 2011, the investors make $49,000 in annual net operating income (NOI) and valuation is projected to increase tremendously as many of the units are severely underpriced.