These are not just any 76 rental townhomes with 100% occupancy, these 76 townhomes all have individual addresses and individual assessor numbers, i.e.; can be sold separately. This 76 townhomes are completely occupied as mentioned, were completely updated and rehabbed. The seller also owns an additional 10 townhomes for a total of 86 townhomes. The 76 townhomes that are fully rehabbed and completely rented are for sale for the posted $5mm. The seller will sell all 86 (10 not rehabbed), other ten - price TBD.
The annual gross income of the 76 townhomes is $634,152. The homeowners' association annual fees are $104,880 (equals to approximately $101 per unit per month). Annual taxes for the 76 townhomes are approximately $23,000 Annual repair/maintenance costs per unit is less than $300.....total cost layout completely is approximately $22,000. Annual expenses are approximately $148,000. The cap rate is in excess of 10% . All utilities are paid by the tenants. The homeowners association is very healthy with over $400,000 in reserves! More information will be disclosed after signed NDA.

Call 425-223-6021 for more information