Sweat equity partner seeking Joint Venture partner for 150+ units B+ area @ 40% IRR!!!

[Jude R]

If you like this deal, please contact me to get more information.

[e-mail]

PURCHASE PRICE:	LESS THAN $9,000,000
STATE:	TX
MSA:	BEAUMONT-PORT ARTHUR, TX
COUNTY:	JEFFERSON COUNTY
NUMBER OF UNIT:	Between 150-200
UNIT MIX:	5% 3BD | 31% 2BD | 64% 1BD
AREA CLASS:	B+
PROPERTY CLASS:	C  (1974)
OCCUPANCY RATE:	Above 90%
CAPEX REQUIRED?	$250K
MARKET CAP RATE:	7.4%
ACTUAL  CAP RATE:	9.14%
DSCR:	2.66
GRM:	5.3
CASH ON CASH (YEAR 1):	17.51% C/C from day one (based on actual)
AVERAGE ROI:	69% (average per year)
TOTAL ROI:	344% (after 5yr)
iRR (YEAR5)	40%
TOTAL POTENTIAL PROFIT:	$7,601,954 (after 5yr)
COMMENT	Cable contract (68K per year) will end on year 7, adding value to a prospect buyer of approx. $1M OR can be capitalized and boost the IRR above 60%!!