Multi Family In Normandy

This home is part of a package of 21 homes priced at a total of $1,879,000 with an estimated 10.45% cap rate. 20 out of the 21 homes are rented and there are 2 section 8 leases and 18 market-rate leases. Average rents are $1,305/month. Most rents are 66-89% of FMR so there is rental income upside. Tenants pay their own sewer bills. The package includes six 2-bedroom homes, thirteen 3-bedroom homes, and two 4-bedroom homes. This package is also available without the 8117 Bluemont property which would put the total price at $1,729,000 with a cap rate of 10.85%. Seller is not offering any seller financing. Please include the following in the special agreements section: ”Properties are being sold as is with seller to do no inspections or repairs. Buyer will have one-time access to the properties. Access will be scheduled once earnest money is deposited. This contract may not be assigned.” Please see the documents section for the marketing pdf with details on the other properties.