Investors take note! This 24 unit apartment complex has the potential to generate $23,276 monthly or $279,312 annually. There is a one bedroom unit being used as an onsite office. This for profit HUD complex offers nice, low maintenance exterior buildings, paved parking for tenants, all in a quiet and flourishing southeast Missouri town where units stay rented! The current manager has a waiting list so vacancies that cut into profits are minimal unless maintenance to the unit requires vacancy! With an onsite manager and management company willing to stay with the purchase, sit back and let the investment pay for itself. This complex generates enough income for the buyer to recoup their investment and still draw profit! There is a rent increase approved for October 1 of this year. The following amounts are current as of date, they will go up based on the amount approved in October.
The complex is comprised of the following:
8-1 bedrooms units that gross $829 each
12-2 bedroom units that gross $985 each
4-3 bedroom units that gross $1,206 each
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