Edmonton Real Estate Investors Association Message Board › Cash Flow Opportunity with Seller Financing!
Attention real estate investors! Are you looking for an attractively priced multi-unit investment opportunity? We have a fully rented 16 unit apartment complex in Charlottetown, Prince Edward Island for $580,000, that’s just $ 36,250 per door! This property includes 13 recently renovated units, new roofing and individual meters for each apartment. It is right next to the Charlottetown airport, and is less than a 10 minute drive to downtown.
Recently verified annual gross rents equal $118,271. Vendor supplied annual operating expenses include electricity/heat @ $22,894, cable @ $2,045, internet @ $687, water & sewer @ $2,029 and property taxes @ $5,646. According to municipal sources waste fees are $3,200 and for non-PEI residents 2010 property taxes would be $8,896 for this property. Seller financing is available ($84,000 @ 4% fixed interest compounded semi-annually, amortized over 25 years, 5 year term). Property management costs in the area are typically 5% - 8% of gross income. Contacts for property management, legal, inspection, etc. are available on request.
If you are interested please give call us or send an email. Time is of the essence for this opportunity.
Veranda Real Estate Solutions