Motivated Seller Offers Instant Apartment Equity
www.GlobalBX.com
Listing ID:
70037984
Listing Title:
Motivated Seller Offers Instant Apartment Equity
Quick Link:
http://www.globalbx.com/listing.asp?bId=37984
Industry:
Real Estate
Industry Segment:
Title and Escrow
Country:
United States
State / Province:
Area
City:
Asking Price Range:
$250K - $500K
Gross Revenues:
$70,000
Cash Flow:
$10,000
Cash Flow Type:
EBITDA
Year Established:
1913
Number of Employees:
1 - 3
Business Description:
If you are looking for an investment opportunity, this is a rare find. Very favorable circumstances from an investor's perspective. A positive cash flow from a newly updated building. The condition of the property will assure consistent rent ability into the future. Professional management and maintenance are already established. The two units that need to be rehabbed could be put on hold until collected income pays for it. Valued around $650,000 and available for $420,000. That is approximately $230,000 instant equity!! Use this equity as collateral on your next investment! You will have a difficult time finding a better offer of this type. The owner is liquidating because of his failing health. It was the owner's intention to finish rehabbing the property and enjoy the monthly income. This situation has created quite an opportunity for a select buyer. His need for a quick sale has led him to be flexible and open to all kinds of creative financing offers. The owner's existing financing is assumable. There is a balance of $250,000 at 8.1% amortized over 25 years with 10 years of payments remaining at $1950/month, which you could take over. The balance of $170,000 is really all you would need to work out. Current actual rent income is $6,075 per month and potentially higher. Current monthly expenses average $5,076 per month. Decrease expenses about $1,000/month with a new boiler. Expenses will be fixed as the income from this property will rise due to increased rentals, decreased expenses, and rent increases. Comfortably raise the rents slightly upon ownership. Vending machines could be added. Both the owner and myself are quite open to working out a more-than-satisfactory deal for all involved.
Won't you please consider how quickly you could bump up your net worth with this acquisition? This opportunity could be very lucrative for you. Please take another look at the good fortune which has come your way.
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