29 W McMillan Cinncy - 6 Unit Student Housing
This is a 6 unit building, 4 of them with 2 beds, and 2 of them with 1 bed.
The building is in proximity to UC which makes me think this will be a highly desirable building given the quality of the rehab. Many other rentals in the area are not of this quality, so I feel the play here is to offer a premium product and service for a premium price.
You need to get about $1K per Bedroom to make the purchase make any kind of sense, but those income levels do seem doable, and with conservative expense assumptions we still achieved a 7%+ purchase cap.
Send me an email if you'd like a PDF of the numbers: