Property Description:
2585-2587 W 11th Ave, Gary, IN 46404
· 14-unit Apartment Building (6 1-bedroom units and 8 2-bedroom units)
· 14,500 SqFt
· ARV: $1.16M (Calculated using the rule of 100 x monthly revenue - 15% vacancy) at $800/month for 1-bedrooms + $1,100/month for 2-bedrooms (rents could easily be higher, but I wanted to be on the safe side)
· Yearly Taxes: $1,127.94
· This property will require a full rehab.
· Estimated Rehab: $730k (Quoted by Sims Remodeling Solutions: They are available for this project if GC is needed)
· Asking: $95k
· Pictures: dropbox.com/sh/kgwq6ejyu7qrzij/AAAADJaRvb-MoUc6fxBGpnc3a?dl=0