Perfect property to assume the debt and lease because of strong rents and low inventory in Aurora.
Date Purchased: October 2023
Purchase Price: $320,000
Purchase Terms: Fannie Mae 30-year, 2.8%
Exit Plan: Sold an option to Tenant-Buyer which calls for a minimum of 410,000 sale price in five years, but it will likely appraise into the mid-400s. Our mortgage balance and cost basis will be ~300K at the time of sale.
