$2,500,000. Portfolio of 18 Residential Income Properties

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Marybeth Knight
5 years ago
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ASKING $2,500,000 Portfolio of 18 Residential Income Properties TYPE: Income Property Portfolio Duplex

Featuring locations between 1 to 7 miles from Uptown Charlotte and Ballantyne.

5% This Single Family Home features 3 Bedrooms, 2 Bathrooms Avg Rent $1200/mth *See Est.

1 ASKING $2,500,000 Portfolio of 18 Residential Income Properties TYPE: Income Property Portfolio Duplex Townhome Single Family DESCRIPTION: Ranging from 2 bedrooms to 4 bedrooms. Featuring locations between 1 to 7 miles from Uptown Charlotte and Ballantyne. HIGHLIGHTS: Total of 18 Units Rents Range $500 - $1600 NOI 2018: est. $127,408* Cap Rate Avg: 5.5% This Single Family Home features 3 Bedrooms, 2 Bathrooms Avg Rent $1200/mth *See Est. operating budget included. TOWNHOME SINGLE FAMILY DUPLEX Avg $1600 / mth Avg $850 / mth Avg $800 / mth Will Peinado / Real Estate Broker North Carolina License Phone Number: will@dpwrealty.com

2 PORTFOLIO DESCRIPTION This is an 18 Unit portfolio of residential rental income properties which includes a mix of Single Family, Townhome, and Duplex apartment units. These residential income properties are located within the metropolitan area of the city of Charlotte, North Carolina. The properties are considered to be in well established neighborhoods, with high demand for rental units. Most are located within minute drive from Uptown/Downtown Charlotte. Locations include areas at or near The Plaza, NC Music Factory, Druid Hills South, Near Uptown, JC Smith University, Biddleville, Nations Ford Rd, I-77, I-285, I-485 Age and construction types vary depending on location but most units include brick exterior, composition roof shingle, crawl space foundation, central heating and air conditioining and many have hardwood flooring. Average rental increases are currently ranging from 5%-10%. Overall vacancy rate lower than 5% per year Average vacancy perios is less than 30 days. Most tenancies extend beyond one year leases. The renewal rate is very high for all units. Most units renting below $1000 per month are rented without appliances. Not including appliances reduces the owner s ongoing and potential cost of maintenance Tenants are responsible for all utilities including electric, water and gas Tenants are responsible for lawn service Tenants are responsible for standard pest control Properties are managed by Real Estate Managers Inc on the web at

3 OPERATING BUDGET FORECAST 2018 Expected Gross Income for 2018 $ 182,760 (Based on Avg rental increases of 5% Management Fees (avg 5.5%) $ - 10,052 Repairs and Maintenance (Avg 7%) $ - 12,973 Capital Expenditures (Avg 4 %) $ - 7,310 Property Taxes $ - 15,187 HOA Dues $ - 4,910 Insurance $ - 5,100 Expected Net Operating Income $ 127,408 NOTES: EXPECTED ITEMS: Gross Income assumes an avg 5% yearly increase at time of renewal. Property taxes are actual figures for 2017 HOA dues are AVG for dues on 3 duplex & 1 townhome, single family homes don t have HOA dues Insurance assumes the use fire and landlord liability policies with higher deductibles ITEMS THAT MAY VARY BASED ON OWNER S DISCRETION Management fees based on current management structure Repairs and maintenance is the avg cost of service calls & tenant turn over if leases are not renewed. Capital expenditures may include AC units, Water Heater or Roof Replacement (as needed) ESTIMATED NET OPERATING INCOME The expected Net Operating Income for this portfolio results in a CAP rate avg of 5.5%+ Properties are managed by Real Estate Managers Inc on the web at

4 Property Locations within City of Charlotte North Carolina

5 18 UNIT RENTAL INCOME PORTFOLIO FOR SALE # Building Address Gross Monthly Rent Type Bed Bath 2017 Porp Taxes Norris Ave $ Single Family Home 2 1 $ Americana Ave $ Duplex 1 side 2 1 $ Norris Ave $ Single Family Home 2 1 $ Norris ave $ Single Family Home 2 1 $ Edgegreen Dr. $ Single Family Home 3 1 $ Glenrock $ Single Family Home 3 1 $ Echodale $ Single Family Home 3 1 $ Fieldvale Pl. $ Single Family Home 3 1 $ Jonquil St. $ Single Family Home 3 1 $ Clydesdale Ter $ Single Family Home 3 1 $ Highlake Dr $ Duplex 1 side 2 1 $ Mill Rd $ Single Family Home 4 2 $ Cherrywood Ln $ Single Family Home 3 1 $ 1, Malibu Dr $ Duplex 1 side 2 1 $ Fern Ave $ Single Family Home 3 1 $ Polk St $ 1, Single Family Home 3 2 $ 1, Chelton Ridge L $ 1, Townhome 3 3 $ 1, Cherrycrest Ln $ 1, Single Family Home 4 3 $ 1,765 As of 5/11/2018 $ 15, $ 15,186 Yearly Gross Rental Income $ 182,760 DPW REALTY GROUP Will Peinado / Broker will@dpwrealty.com Tel

37 Unit Rental Income Portfolio Townhome-Duplex-Single Family Properties

ASKING 37 Unit Rental Income Portfolio Townhome-Duplex-Single Family Properties TYPE: Income Property Portfolio Mix Duplex (1 side & 2 sides) Townhome Single Family Homes DESCRIPTION: Ranging from 2 bedrooms