Residential Property Management Firm NCListing DetailsOffice ID: PMGT1 Status: Expired Listing Broker: Charles Milam, M&AMI, CBI Listing Price: $143,700 Gross Revenue: $221,000 Cash Flow: $48,000 12 Month Forecast: $225,000 Forecasted Cash Flow: $50,000 FF&E: $5,000 FF&E Included: Yes Real Estate: $327,500 Sales Structure: Asset Sale Seller Financing: Yes Financing/Terms: Some seller financing is available to a qualified buyer.Reason for Sale: RetirementTraining: 20 normal workdays at no charge, seller is willing to continue working in an extended transitionOperationsYear Established: 1996 Form of Ownership: S Corp Employees (full-time): 2 Managers: 1 Business Hours: Monday - Friday, 8am - 5pm Summary Business Description: Manage primarily residential real estate and some commercial for owner and other clients with both low and middle income tenantsHistorical Summary: Started over 20 years ago and owner is ready to retire. The real estate portfolio may also be of interest to a buyer.Owner Qualifications: An individual real estate broker license and a firm real estate broker license are required by the state and sufficent liquid capital is necessary to qualify for financingPotential Growth: A more proactive effort to add new management properties would likely yield immediate results. Additionally it hs been almost 8 years since brokerage has been a contributor to revenue.LocationType of Location: Stand Alone Real Estate for Sale: Yes Real Estate: $327,500 Monthly Rent: $1,000 Square Footage: 1050 Facilities: Seller owned building contains business offices and additional offices that are currently rented and is not included in asking price. 2,124 total building square footage on 0.07 land acres. Rent for the property management portion of the building would be $1,000 monthly on a triple net lease with a 3%% annual increase. $327,500 is the asking price for the entire building. Last Updated: Dec 19, 2018 / 12:36 PM Financial Information Current As Of: Mar 8, 2018 / 10:19 AM  |
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