6914 St Clair Ave

CASH COW! This 21 door Eastside portfolio is being offered at a true, CURRENT 9.6% cap rate! Current NOI is over $68k with a pro forma NOI at $124k+. Pro forma ARV leaves nearly $200k in equity left to be created through updates and rental increases. 16% cap rate expected once stabilized. This portfolio consists of a 7 unit, a 4 unit, 5 duplexes and a land parcel - (46 total bedrooms) Low expenses provide higher cash flow and with total taxes under $10k/year that definitely allows the cash to flow. Currently has 3 vacancies that are being made rent-ready. Owner pays water and trash. Selling as package only. The NOI was calculated including 10% management, 5% maintenance, 5% vacancy, taxes, insurance and water/sewer costs so numbers are very real. Financials and photos of each are available from the listing agent. ** Seller reduced the price immediately to compensate for $50k in expected capx required**