10 units in Wilmington. I represented the seller. Property was priced at 5.5 GRM and owner was willing to carry 15%. 3 offers arrived simultaneously, then all 3 fell apart. Two weeks later one of the buyers came back and the deal was successfully negotiated at $360,000 cash to seller. From the buyers point of view he put 25% down, will receive about 20% cash on cash, and has the opportunity to raise rents about $100. per unit on each move out.

Located in Wilmington. I represented the buyer. Sale was negotiated at a 4.7 GRM with 25% down. Property consists of 14 units and grosses over $57,000 per year.  Cash on cash yield should be over 24% per year. Just sold for over $690,000.

Sold.8 Units in Wilmington. I represented the buyer in this transaction. Property was purchased on the basis of a 5.7 GRM with 15% down and a 15% seller carry-back note. The lender was happy to make the loan because it represents a 70% loan to value. Due to the high leverage, with 37% expenses the property should yield a 22% cash on cash return to the buyer.

Purchased 4 units in Wilmington in a partnership. Built in 1986, this 6,000+ square foot  building is not under rent control. All existing tenants were moved out on close of escrow. $4,500 spent to upgrade units. Currently being rented to section 8 tenants. Building will gross$50,000+ annually and return approximately 20% on 10% down payment.