100 Unit Apartment Portfolio - Cash Flowing


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:



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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