If you are looking for an investment property with positive cashflow upon purchase, I have a great opportunity for you.
It’s an off-market 3-year-old San Antonio fourplex, 100% occupied with great management in place. This opportunity offers an excellent 18% overall rate of return (IRR) and and 8% cash on cash return upon purchase.
Three of the units have leases in place running through March/April 2021 and one of the units has a lease through August 2020 with an opportunity to raise the rent if Tenants decided to move.
Projected annual positive cashflow is ~$12,500 and that includes vacancy, leasing fees and management. Seller bought it new and will be executing a 1031 exchange. Due to the 1031 timelines, the earliest available closing date for this property is September 1, 2020.
Property Photos
Cashflow Analysis
| Asking Price | $570,000.00 |
| Market Value | $570,000.00 |
| Purchase Price | $570,000.00 |
| Down Payment | $142,500.00 |
| Initial Repairs | $0.00 |
| Closing Costs | $11,400.00 |
| Investment Capital | $153,900.00 |
| Rent | $5,235.00 |
| Vacancy | $157.05 |
| Property Taxes | $1,287.92 |
| Insurance | $83.33 |
| HOA Fee | $70.83 |
| Maintenance and Repairs | $50.78 |
| Property Management | $253.90 |
| Leasing Fee | $152.69 |
| Landlord-Paid Utilities | $200.00 |
| Total Operating Expenses | $2,256.50 |
| Net Operating Income | $2,978.50 |
| Mortgage Payment @ 3.625% – 25% Down | $1,949.62 |
| Monthly Cashflow | $1,028.88 |
| Principal Paydown | $668.22 |
| Appreciation Return | $1,534.25 |
| Annual Depreciation Deduction | $16,587.00 |
| Total Monthly Return | $3,231.35 |
| 10-Year Annual Rate of Return | 17.97% |
| Cash-on-Cash Rate of Return | 8.02% |
Map and Location
Downloads (PDF)
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Next Steps
I don’t expect this property to last past the end of this week. So if you are interested in this property give me a call at 713-922-2702 and let’s talk.
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