4161 E Farr Rd is amulti-family property for lease in Bloomington, IN.
Excellent cash flow opportunity! Portfolio of 74 single family investment properties located throughout southern Indiana. Located in Martin, Lawrence, Clay, Greene, Monroe, and Morgan counties. The portfolio is currently at 92% occupancy, and many of these homes have been recently rehabbed. This package is being listed 15% BELOW the total appraised value of these properties!
Please note - 51 of these homes have lease-option contracts in place with the current tenants. These homes represent approximately $3,693,000 of the purchase price - and as of 10/28/13, stand to generate $4,637,300 in sale proceeds upon maturity of the lease-option contracts, as well as an additional $674,500 in rental revenue throughout the remaining lease terms.
The 23 properties that do not have a lease-option in place represent the remaining $1,421,000 of the purchase price. These homes represent an additional $204,900 of potential gross yearly income.
This portfolio may be purchased in its entirety, or in smaller groupings which are also being offered for sale:
-Properties in Martin & Lawrence Counties - ICREX # 28710500
-Properties in Clay & Greene Counties - ICREX # 28710490
-Properties in Monroe & Morgan Counties - ICREX # 28710505
Please contact listing agent for additional details and financial information
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