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100 Unit Apartment Portfolio - Cash Flowing
Location: United States
Industry: Real Estate > Other Real Estate




Business Summary

I am currently selling a 100 unit apartment portfolio. 95% occupancy. Grossing $48,000 per month, netting $35,000 per month with room for growth. I could manage it for you for 5% of net. No major or immediate capital improvements needed. Great shape. 7 different properties in the portfolio, each located in a nice, thriving area of Northern or Central Michigan. Great rental history. These apartments represent half of my current apartment holdings, and I am selling them to raise capital for other projects. Vacancy is generally only 2%; however, 22 of the units have been recently rehabbed from a resort motel to apartments, and that caused the occupancy to dip in those units only, lowering the percentage for the portfolio. But there is rarely vacancies with this portfolio. 2% is the average. A very strong portfolio that is cash flowing very well. I am selling it for $3.5 Million cash, but will also carry 25% paper for increased purchase price.


Financials

Asking Price Range:  $2.5M - $5.0M
Gross Revenues:   $576,000
Cash Flow:   $420,000
Cash Flow Type:  Sellers Discretionary Cash
Seller Financing:  Yes

About The Business

Year Established:  2011
Number of Employees:  1 - 3
Relocatable:  Not Disclosed
Franchise:  Not Disclosed
Current Real Estate:  Owned
Property:  Property For Sale

About The Sale

Reason For Selling:  Raising capital for other projects




Print Listing Id: 700185064
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Also See: Franchise Opportunities > Franchise Resales

Also See: Franchise Opportunities > Franchise Resales > Business Brokers > Commercial Property For Sale > Commercial Property For Lease



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