50% Equity Share in Apartment Complex (ithaca)



I am offering 50% equity stake in a two
building portfolio consisting of 7 apartments
and 2 retail storefronts.
The properties are located in Clyde, just
7 miles from Del Lago Casino.
We rehabbed the residential units and all 7
apartments are fully leased.
The properties currently generate $30,456
a year after all expenses.
We are offering equity in the properties in order
to reposition the properties as a residential
community called "park View Place."
This requires putting in coin-op laundry for
the tenants, exterior improvements, and
rehabbing and leasing the 2 commercial units.

The plan is to complete this phase in 12
months or less and sell the properties for
a profit.

Using a 14 CAP valuation the properties
are currently worth $217,542.

We are offering 50% equity for $108,771
and an additional commitment of $20,000
for the rehab.

Once the rehab is complete, the value of
the properties will increase to $423,054.

Upon sale of the properties you would
receive your investment back plus an
additional approximate $82,756, a return
of 164% in 12 months.

(Because the apartments are currently cash
flowing, you will also receive monthly payments
of approximately $1,250 during the rehab phase.)

Here is what is needed to reposition the properties:

1. Conversion of a utility room to a coin-op laundry
for the tenants;

2. Rehab and lease commercial store fronts.

3. Rehab and lease final 2 residential apartments
that are receiving under market rent.

4. Improve exterior and curb appeal of both
properties in order to raise rents.

5. Signage and branding as "park View Place".

I have a reliable team and can complete the
necessary rehab in 3 months and get the properties
listed for sale.
  • do NOT contact me with unsolicited services or offers

post id: 6979028846


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