TITLE:
Villas at Halsey
CONTROL:
Owner
VALUE:
$3,350,000
LOAN:
$1,870,000
EQUITY:
$1,480,000
TYPE:
Multi-Family
HAVE:
42 units finished 55+ senior living. Two blocks from a major hospital and shopping/dining. 80% occupied and will be full within the next 4-5 months. $3.5 Million renovation completed in August 2023.
WEBSITE URL:
ADDRESS:
3801 Halsey St, Alexandria, Louisiana
BENEFITS TO NEW OWNER:
Soon-to-be fully occupied, income property, renovated like new, and well located in Alexandria, LA.
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GROSS SCHEDULED INCOME:
$384,000 Projected
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$384,000
EXPENSES:
$89,860
NOI:
$294,140
DEBT SERVICE:
$180,000
CASH FLOW:
$114,140
CAP RATE:
8.78%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$1,870,000
$15,000
7%
12/31/2028
No
BENEFITS SOUGHT:
Activate equity to pay off some other loans.
CAN ADD:
Adjacent land to build additional units. With enough cash, I would seller finance the balance.
REMARKS:
Rents are below market. Great upside and additional build out possible with adjacent land..... I'm also looking to acquire a $10 Million property to develop a mixed-use property. I have the skill and I'm looking for capital partners.
COUNSELOR:
Matthew Ritchie
Ritchie Real Estate
1268 Dorchester Drive
Alexandria, , 71303
Phone: 318-709-6288
Email mattritchie@ccim.net
