7499 Hazelcrest Dr

This portfolio features seven diligently maintained and fully occupied condos across 5 buildings located close to each other in Hazelwood. The condos offer a mix of unit types, including 3 studios, 1 one-bedroom, 2 two-bedroom, and 1 three-bedroom units. With high demand, these units consistently attract multiple rental applications.
The current monthly rental income is $6,125, totaling $73,500 annually, while the current annual expenses stand at $27,570, resulting in a net annual income of $45,930. With the new improved price, this investment opportunity meets the 1.2 debt-to-income ratio requirement with a 20% down payment and 7.5% interest rate, with a 20-year amortization. Additionally, there is potential for even higher net income as the units are currently rented below market rates.
Property maintenance is hassle-free with the condo association handling all exterior repairs, landscaping, and parking areas. Amenities include dedicated off-street parking, in-unit or on-site laundry, and cost-effective all-electric utilities, covering water, trash, and gas expenses. Major employers like Amazon and Boeing are located within close proximity to the condos.