I have properties in Port Lavaca, Texas. I am selling them because (a) I have started my own consulting business and need the cash to live on, and (b) I am in California and it is too hard for me to manage them from here.
These properties are in decent shape, but they do need some work to get them operating where they should be. If I lived in Texas, I’d be doing just that.
These properties should cash flow $1000-$1500 per month, even after financing. See the numbers below for more data.
412 and 416 and 420 Colorado Street 412 and 420 each have 4 apartments 416 is a 2 bedroom house
COUNTY APPRAISALS: 412 N. Colorado - $69,601 416 N. Colorado $39,430 420 N. Colorado $62,103 TOTAL $171,134
All are either 1 BR or Large Efficiency, and rent for $300-$450 per month. The house rents for $500
COSTS: Insurance: $150 per month Taxes: $270 per month Water: $406 per month (average) Trash: $115 per month
REPAIRS There are definitely some repairs that need to occur. One of the apartments in 420 needs to be completely redone - painted, new carpet, etc.
My intent is to sell these fast, as I need the cash. As such, I am selling these at a loss. The price I listed only pays off the mortgage and the taxes I owe. I will get nothing for the sale, but I have to sell quickly.
I unfortunately cannot consider owner financing at this time.
Let me know if you would like to see them, and then I can arrange that.