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Residential Property Management Firm
NCListing DetailsOffice ID: PMGT1
Status: Under Contract
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:
Retirement
Training:
20 normal workdays at no charge, seller is willing to continue working in an extended transition
OperationsYear 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 tenants
Historical 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 financing
Potential 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: Nov 20, 2018 / 10:52 AM
Financial Information Current as of: Mar 8, 2018 / 10:19 AM