Property Management Business with Real Estate Near the Beach
Asking Price:$2,450,000
Cash Flow:$283,960
Gross Revenue:$336,250
EBITDA:N/A
FF&E:$114,000
Inventory:N/A
Real Estate:$1,615,000
Established:2004
Business Description
Property Management with a 16.8 Capitalization Rate
This Realtor owned Property management business in SW Florida comes with two Quadplexes that were renovated in 2018. The properties have advanced booking through April of 2022 with 1/3 down deposits. The owner lives in one unit and rents out the other 7 units on a weekly basis. The property is located just one block form the beach and in close walking distance to many bars and restaurants. The Cap Rate is 16.81%
Detailed Information
- Real Estate:
- Owned
- Included in asking price
- Building SF:
- 12,000
- Employees:
- 2
- Furniture, Fixtures, & Equipment (FF&E):
- Included in asking price
- Facilities:
- All eight units are in immaculate condition and the property is very well maintained. 7 of the 8 units will come fully furnished.
- Competition:
- There are no other quadplexes in this town. Mostly there are duplexes and just a few triplexes. In addition, only two streets in the entire town are zoned to allow weekly rentals. All others must do monthly rentals and those are far less profitable.
- Growth & Expansion:
- There is a opportunity to buy additional properties as well.
- Support & Training:
- Seller will provide training for two weeks in transition.
- Reason for Selling:
- Moving to the Florida Keys
Background information
Reference:
NAPFL001-N67
Price and terms
Price:
$2,450,000