100 Unit Apartment Portfolio - Cash Flowing
www.GlobalBX.com
Listing ID:
700185064
Listing Title:
100 Unit Apartment Portfolio - Cash Flowing
Quick Link:
http://www.globalbx.com/listing.asp?bId=185064
Industry:
Real Estate
Industry Segment:
Other Real Estate
Country:
United States
State / Province:
Area
City:
Asking Price Range:
$2.5M - $5.0M
Gross Revenues:
$576,000
Cash Flow:
$420,000
Cash Flow Type:
Sellers Discretionary Cash
Year Established:
2011
Number of Employees:
1 - 3
Business Description:
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.
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