income & expenses · cash-on-cash return 6.69% 11.41% new loan details loan amount down payment...
TRANSCRIPT
12 Units in Bakersfield, CA. | $1,195,0002209 Planz Road, Bakersfield, CA. 93304
Income & Expenses2209 Planz Rd. Beds Baths Sq Ft. Current Rent Market Rent/Proposed
Increase
Unit 1 2 1 814.5 $735.00 $875.00
Unit 2 2 1 814.5 $850.00 $875.00
Unit 3 2 1 814.5 $735.00 $875.00
Unit 4 2 1 814.5 $670.00 $875.00
Unit 5 2 1 814.5 $850.00 $875.00
Unit 6 2 1 814.5 $735.00 $875.00
Unit 7 2 1 814.5 $725.00 $875.00
Unit 8 2 1 814.5 $850.00 $875.00
Unit 9 2 1 814.5 $875.00 $875.00
Unit 10 2 1 814.5 $725.00 $875.00
Unit 11 2 1 814.5 $725.00 $875.00
Unit 12 2 1 814.5 $850.00 $875.00
Total 9774 $9,325.00 $10,500.00
Gross Rent Income $111,900.00 $126,000.00
Additional Income (Laundry) $1,400.00 $1,400.00
Gross Income $113,300.00 $127,400.00
ExpensesAnnual Operating Expenses (actual) $21,999.24 $21,999.24
Taxes based on $1.195MM Purchase $17,494.61 $17,494.61
Total Expenses $39,493.85 $39,493.85
Net Operating Income $73,806.15 $87,906.15
New Loan Breakdown Price $/Unit $/SqFt Current Cap. Pro Forma Cap.
Asking Price $1,195,000 $99,583.33 $122.26 6.17% 7.4%
Debt Servicing -$71,303.76 -$71,303.76
Projected Net Cashflow $19,997.00 $34,097.00
Cash-on-cash return 6.69% 11.41%
New Loan Details Loan Amount Down Payment Rate Term Amortization$896,250.00 $298,750 3.86% 30 Years 30 Years
Three words, pride-of-ownership. Now is your chance to own this spectacular income property, featuring 12 spacious 2 bedroom 1 bathroom units. A recent face-lift, including all new wood siding and a fresh paint job, has this property looking tip-top. The current owner has undertaken significant steps towards eliminating future expenses by implementing sizable capital improvements including, but not limited to a complete overhaul of almost half of the units (remaining units were already in good condition). With low expenses and room for rent increases, this property has the potential to be an absolute win.This development consists of six “duplex-style” buildings, with ample parking space in between.This design maximizes privacy for the residents, thereby increasing the desirability of each unit. This property would make a fantastic addition to your portfolio. Why wait? Call today!
• Centrally located, making for an easy commute to work. • Minutes from The Valley Plaza Mall, the largest shopping mall in the San Joaquin Valley. • Nestled amongst single family neighborhoods. • Situated across from Planz Elementary School. • Units are in high demand, and are very easy to rent. • Room to increase rents to maximize cash-flow.
DISCLAIMER: All information provided herein is believed to be true and accurate. However, we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer to do buyer’s own due diligence to verify any/all of the information. Buyer assumes any/all risk for inaccuracies.
Exterior Photos
Interior Photos Interior photos were taken prior to lease.
Winans & Associates Professional Real Estate Services
4819 Calloway Dr. Ste. 102 Bakersfield, CA. 93312
661.742.6270 | [email protected]
DRE# 01888079