1226 N Union St

💰 DEAL OVERVIEW • Asset Type: Multifamily (3-Story Walk-Up) • Total Units: 12 (11 rentable + 1 mechanical/laundry conversion) • Parking: 20 private spaces (rear lot) • Construction: Concrete structure • Occupancy: 0% (fully vacant)

💸 PRICING • Purchase Price: $215k

🔨 RENOVATION STATUS

Completed: • New windows throughout • New plumbing + drainage system • Roof leaks patched • Materials on-site (doors, etc.) Needed: • Full interior renovations (all units) • Kitchens, bathrooms, flooring, paint • Drywall repair (multiple units) • Electrical upgrades + meter activation

⚡ ELECTRICAL & UTILITIES • Meter bank present (see photos) • Currently operating on master meter • Individual meters not yet active Buyer to verify activation with utility provider

📊 FINANCIAL PRO FORMA (CONSERVATIVE) Estimated Rents: • 1 Bed (5 units): $700 avg = $3,500/mo • 2 Bed (6 units): $875 avg = $5,250/mo Total Monthly Rent: $8,750 Annual Gross Income: $105,000 Estimated Expenses: • Insurance: $8K–$12K • Maintenance/Management/Vacancy: ~35% Estimated NOI: ~$60,000

📈 VALUE ANALYSIS • Stabilized Value (10–11% Cap): $525K–$575K+ Investor Snapshot: • Purchase: $215k • Rehab: $75-$100k • All-In: ~$315k Strong forced appreciation opportunity

⚠️ TAX DISCLOSURE • Property currently tax exempt due to prior ownership • Will be reassessed in 2026 • Buyer to verify future tax liability and resubmit application with county

🧠 INVESTMENT STRATEGY Ideal for: • Multifamily investors • Value-add operators • Cash or hard money buyers Upside: • Full reposition opportunity • Utility separation potential (increase NOI) • Laundry conversion (additional income) • Strong unit count for entry price

📸 PROPERTY CONDITION SUMMARY • Fully vacant • Heavy interior renovation required • Mechanical systems partially updated • Structural integrity appears solid (concrete build)

🚨 TERMS • Cash / Hard Money Only • Buyer pays all closing costs • Non-refundable EMD required • Close

Have 150 more pics/videos by request, fb only aloud up to 50

 

🔥 SERIOUS BUYERS ONLY Proof of funds required prior to access or walkthrough scheduling. Call 678-754-3904  

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