The continuing pursuit of apartment buildings
August 29th, 2007 by KenricIt has been so difficult for me to not talk about the apartment building in Texas. The reality is that I now have partners and I cannot just write about whatever I want and disclose any information about the property. I wish I could be as open as I am with my current investments, but I just cannot.
With all that said, I officially plopped down a big down payment check today for a large apartment building in Texas. I can only be as general as possible here, but it is a 100+ unit building in the range upwards near $5,000,000. The property is a pretty nice “C” class apartment building in a nice area. More to come later…
Posted in Apartments | 
Stumble it!
Looks like $40-$50,000 a unit, plus or minus. What is the actual OAR based on the last 12 months of operation (not the proforma nonsense)? What’s the unit mix (in rough percentages, since you can’t give actual numbers)?
Will be interested in seeing the details of your financing and your anticipated cash on cash return when you can disclose them.
By Another Investor on Aug 29, 2007