Wholesale deal - 1705 N. Center Street, Mesa AZ 85201 - MULTI FAMILY Estimated 14.7% CAP, 19% ROI

Wholesale deal - 1705 N. Center Street, Mesa AZ 85201 - MULTI FAMILY Estimated 14.7% CAP, 19% ROI

Close to Mesa Convention Center, downtown Mesa, Mesa Community College, and Banner Desert Medical Center.  Nice rent district.  Sales are averaging less than 30 days on market.

Maricopa Assessor Parcel #136-23-157.
Zoned Multi family, high density = up to 2,499 square feet.  Lot is .24 acres, 10,400 square feet.  Lot dimensions are 65 x 160.  Can build up to four units.  Average rent is between $600-800/unit depending on finishes.

Need set:  Construct up to 4 units on property.  2 bedrooms, 1 bath, approximately 700 sq feet with covered parking.

Wholesale price:  $64,557
Estimated build price:  $195k
Estimated CAP:  14.7%
Estimated ARV:  $325k

First contract and $5k non-refundable deposit to title wins.  Buyer to pay all closing costs.  GO!

See below for fun disclaimers, ESTIMATED budget, pics, and comps:

Fun disclaimers:

All Prices based on cash sale with $5k non-refundable deposit to secure property. 

IMPORTANT INFORMATION

• All properties offered are either owned or are under contract and selling equitable interest or offered in conjunction with business associate.

• One of managing members is a licensed Real Estate Agent in the state of Arizona.

• If estimated values are provided, they are based on interpretation of MLS and Tax Data.
• Hard Money Available on most transactions at range of 10-18% with 20-30% down and transaction fee.
• Price is net to seller and Buyer pays all closing cost
• Buyer agrees to double close of escrow

Investors/buyers are encouraged to conduct their own due diligence. The members of the selling entity are not tax or financial advisers. You should consult with a certified financial and/or tax adviser on any investment you are considering. Buyer pays all closing costs.

COMPS:

Estimated Budget:

Purchase Price				64900
	Front side
	Hard Mony loan						51920
	Hard money down payment					12980
	Interest hard money
	10% 6month term - 4 months			519.2		2076.8
	Closing costs					1500
	Remodel					195000
	Insurance					700
	APS/Water					700
		Total cash invest				212956.8	212956.8
		Total Frontside costs					264876.8
	Backside
	Estimated renovated sales price						325000
	Realestate commission			0.05		16250
	title fees					1500
		total fees				17750	17750
		total frontside costs					264876.8
	Total Earnings						42373.2
	ROI						0.198976