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6 Units Cash Flow & Equity In CA for under 100k
Front of Propety
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| Commercial, Bakersfield CA | |
Available |
THIS IS YOUR CHANCE TO BUY A COMMERCIAL PROPERTY AT A DISCOUNT FOR UNDER 100K IN CA, REHAB IT AND SIT BACK AND COLLECT THE CASH FLOW!
ALL FOR JUST $89,500
YOU MUST BE ABLE TO CLOSE QUICK
This is a 14 day escrow starting from Monday 9/12/2011
CALL US NOW BEFORE SOMEONE ELSE SCOOPS THIS ONE UP |
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| Price: | $89,500 | | Est Amount of Repairs: | $40,000 |
| After Repaired Value: | $150,000 | | Est of Taxes, Ins, Attorney: | $0 |
| Est Equity: | $60,000 | | Required Deposit: | $5,000 |
Contact Us About This Property
Banks Loss is your gain, Here is your opportunity to buy your first commercial property for under 100k in CA!!!! Located in East Bakersfield blocks away from Kern Medical Center. This is a great rental area for cash flow.
The property consists of 1 2 bedroom / 1 bath, 4 1 bedroom / 1 bath and 1 studio.
Sales price is $89,500 Price covers all closing cost) (cash only)
Repairs 35-40k (overall structures are good, mainly cosmetic and separating the utilities to separate meters)
Repairs quoted by a local General Contractor that can take care of these for you and does do written contractor agreements to ensure you the price and list of items that would be completed to make in turn key and rent ready.
CAP Rate of 19.7% (based on a 45% expense level) - (Covers tenant and vacancy repairs, vacancy, taxes, insurance, property manager)
After Repair Value of $150,000
Currently
2 paying tenants
2 non paying (process already started on eviction)
2 vacant and ready to start work
Unit mix as follows:
1 @ 2 bedroom / 1 bath ($645)
4 @ 1 bedroom / 1 bath ($550 each)
1 studio ($495)
Total Gross Rents $3,340
Quick break down
6 Units
Price is 82k (Seller to cover all closing cost)
Repairs 40k
Rents $3,340
CAP Rate 19.7%
YOU MUST BE ABLE TO CLOSE QUICK
This is a 14 day escrow starting from Monday 9/12/2011
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Additional Photos (Click to Enlarge)
Front2
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Related Documents
Lead Base Paint Addendum
Letter of Intent To Purchase
Listing Details
| Market: | NW |
| Address: | 1522 West Dr
Bakersfield,CA 93305 |
| Bedrooms: | 6 |
| Bathrooms: | 6 |
| Vacant: | No |
| Rented: | Yes Rent Amt: 1290 |
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Contact information:
 | Bryan Holmes
510-508-4008
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Additional Comments:
Currently
2 paying tenants
2 non paying (process already started on eviction)
2 vacant and ready to start work |
How to Buy
To put this property under contract please download the Contract Package (see Related Documents above). Fill out and send back to us along with the required deposit.
* All properties Subject to errors, ommissions, deletions, additions, cancellation, financing qualification if applicable and prior sale. All properties sold as is, where is with absolutely no representations written or oral. Buyer is to do their own independent due dilligence. Property will not be considered under contract until signed contract and deposit received with all contingencies removed.
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