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They Call Me Mr. Ed – The Best Darned Real Estate Blog Period…!

The Gaslight Apartments, Folsom, Ca 15 Unit Complex For Sale…!

January 23, 2014/in Foreclosure, General, Investment Real Estate, Property Management, Real Estate Sales /by edfavinger

Posted on the Market on January 15th….

So Far…?  6 Offers…!!

For those of you that don’t know me, I work primarily with Residential Investment Property and Investors.   We were fortunate to get the opportunity to do the Property Management  for the Gaslight Apartments in the summer of 2012.   The Apartments consist of,  (9) 2 bedroom 1 bath and (6) 1 bedroom 1 bath units.

The property is well located in Folsom, near City Hall, the new Library, City Park and Zoo.   It’s a corner lot location with a single family home on one side and Theodore Judah Elementary on the other.

Since the time we took over, we’ve increased the owner’s Monthly income  over $1,000 by very modest increases in the rents of these long time tenants, some of whom had not seen a rent increase in 18 years.

While Gaslight doesn’t have all the latest amenities, it does have Covered Parking and a Community Pool.

The Owner’s have decided to move on after owning this for approximately 20 years or so.

There’s a lot of “upside” on this one for the right owner…!

Click Here for a Proforma Cash flow analysis based upon Current Rents

Click Here for a Proforma Cash flow analysis based upon another modest increase in Rents

Click Here for a Rent Roll that shows the current rent, laundry income & potential rent.

As of January 23, 2013 this property is still available, so if you are interested let me know.

 

In The Mean Time…?

Make it a Great Day..!

Ed Favinger, Broker, CRS, GRI, SFR, CDPE    favinger@rwnetwork.com     916-203-1260

 

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https://secureservercdn.net/198.71.233.227/jza.0ea.myftpupload.com/wp-content/uploads/2020/11/NextHome-TheCallMeMrEd.png 0 0 edfavinger https://secureservercdn.net/198.71.233.227/jza.0ea.myftpupload.com/wp-content/uploads/2020/11/NextHome-TheCallMeMrEd.png edfavinger2014-01-23 12:12:282014-01-23 12:12:28The Gaslight Apartments, Folsom, Ca 15 Unit Complex For Sale…!

Ed Favinger

Phone: 916-203-1260
NextHome Premier Properties
620 East Bidwell Street
Folsom, CA 95630
CalBRE # 00812744

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Ed Favinger

Phone: 916-203-1260
NextHome Premier Properties
620 East Bidwell Street
Folsom, CA 95630
CalBRE # 00812744

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