INCOME PRODUCING PACKAGE
Positive Cash Flow – Proven Track Record
I am selling a total of 13 individual properties (17 doors).
The properties all have been completely remodeled and have been rented for the past 3-5 years with proven rental history.
Cash Flow is Positive with annual rental income of $118,500; after all expenses, management fees, & carrying costs, the gross before taxes is $46,156.42.
The properties currently have a $1.1 million loan and the bank is willing to do a short sale as a package for $550,000 for all properties. Smaller packages are a possibility, but the price would be subject to bank approval.
The properties generate excellent cash flow and at $550,000 would be extremely profitable.
The cap rate is 14.03%, not because properties are depressed, but because the package is priced to sell quickly. The cap rate could easily be 10% meaning the properties would be worth $771,820.
I currently own a remodeling and painting company. We have remodeled majority of these properties with new plumbing, roof, electrical, central HVAC, etc. I have had these properties for the last 3-5 years with a proven rental history and nearly every property has long term leases. 3 properties have Section 8 tenants and we receive money directly from the Brunswick Housing authority.
· Detailed spreadsheet outlining the details on properties Rent Roll
· Annual Property Operating Statement.
· Return On Cash statement