454 units in TN for SALE!!

454 units in TN for SALE!!, therefore we would like to offer this package as an
assumption of  the loan, we will be able to modify the loan to a 4% +- rate at
83% LTV.




Price: $15,500,000
Available individually or as a portfolio
Assumable loan or new financing

MEMPHIS PORTFOLIO FINANCIAL ANALYSIS


• Total units: 454 units
• Garden apartment style
• Over 90% average occupancy
• High performing assets
• Strong Memphis submarket


Asset 1

Occupancy 90.51%

Class A

79 bldgs. Plus office/clubhouse

Year Built 2000
Units 158 Units/ 79
Buildings, plus office/
clubhouse
Unit Type # of Units SF
2 Bdr 1 Bath Twnhs 32 857
2 Bdr 2 Bath Twnhs 88 917
3 Bdr 2 Bath Twnhs 38 1,140
Total/ Avg. 158 151,440
Avg SF per apartment 958sf


Financing Summary
Purchase Price $6,150,000
Loan amount $4,920,000
Down payment $1,230,000
Monthly payment $25,665
Yearly payment $307,980
Net Operating Income $521,216
Yearly payment $307,980
Net cash flow $213,236
Down payment $1,230,000
Net cash flow $213,236
Cash on Cash 17.3



Asset 2

Occupancy 91.45%

• 152 Units
• Built in 1984
• Raleigh/Bartlett submarket-class B
• Average unit size: 959 SF
• 64% of 2 and 3 BR apt
Unit Type # of Units
1 Bed / 1 Bath 56
2 Bed / 1.5 Bath 72
3 Bed / 1.5 Bath 24
Total: 152



Financing Summary
Purchase Price $5,800,000
Loan amount* $4,650,000
Down payment $1,150,000
Monthly payment $24,256
Yearly payment $291,072
Net Operating Income $470,324
Yearly payment $291,072
Net cash flow $179,252
Down payment $1,150,000
Net cash flow $173,912
Cash on cash 15.5%
*Based on L.T.V 80%



Asset 3

Occupancy 85.42%

Class C+

• 144 Units
• Built in 1975
• Stabilized REO Asset
• Attractive Price Per Unit & SF
• Excellent Unit Mix & Floor Plans
Unit Type # of Units
1 Bed / 1 Bath 24
2 Bed / 1.5 Bath 88
3 Bed / 1.5 Bath 32
Total: 144



Financing Summary
Purchase Price $5,100,000
Loan Amount* $4,080,000
Down Amount $1,020,000
Monthly Payment $21,283
Yearly Payment $255,396
Net Operating Income $409,648
Yearly Payment $255,396
Net Cash Flow $154,252
Down Payment $1,020,000
Net Cash Flow $154,252
Cash On Cash 15.2%
*Based on L.T.V 80%.  If you are interested, please contact Richard at phhandlers@gmail.com.  ONLY SERIOUS BUYERS WANTED!!!! Thanks an GOD BLESS!!