50 Unit Apartment Building for Sale in Fontana, CA
Help a fellow blogger-broker, Hanan Levin of Grow-a-Brain sell this property & earn yourself $15,000. Here’s his May 28th offer:
I will offer to the many real estate bloggers (and other webmasters) who read this site the same deal I did before: If you link to this post, and if you’re able to generate a lead among your clients who’ll send me an accepted offer for the property, I will pay you $15,000 referral fee, at close of escrow. So please spread the word (or call me to discuss a protected arrangement).
Price: $6,250,000
Down payment: $1,712,632
Assume existing $3,937,368 fixed rate 1st trust deed & note, due 10/10, at %5.75 interest, $23,074 per month, 1 point assumption fee
Gross Scheduled Rental Income: $48,080/monthly $576,960 Annually
Allowance for Vacancies & Credit Losses (5%) $28,848
Gross Scheduled Income $548,112
Operating Expense allowance (34%) $188,724
Net Operating Income Estimates $359,388
UPSIDE / MARKET RENT DATA 46 2/2’s @ $950/ $43,700
4 1/1’s @ $ 895/mo. $ 3,580
Laundry Income/mo. $ 800
Total Market Rent $48,080/ $476,960 yr.
MARKET RENT GRM (GROSS RENT MULTIPLIER): 10.83 x Gross
MARKET RENT CAPITALIZATION RATE (CAP RATE): 5.75%
This gorgeous property consists of a 50-Unit Apartment project, with a good mix of 46 2-Bedroom 2 Bath and 4 1-Bedroom 1 Bath units, on a spacious 2.3 acre. Security gated 2-story frame and stucco construction throughout. The buildings all have pitched, asphalt tile roofing. The project offers a Pool, Spa, and Laundry, and 50 garages. Built in the late eighties. It is located on the border between Rialto & Fontana, in a very high-growth part of town.
Please share this information with your qualified prospects. Email me at realhanan (at) yahoo (dot) com, or call me on my cell for more details.
Seems Dustin of Rain City Guide isn’t the only blogger selling their real estate on their blogs. Why not?
Good luck Hanan & Dustin!
