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Rental Real Estate Turnkey in operation 25 yrs for sale in Hwy 27, Florida
Rental Real Estate Turnkey in operation 25 yrs
Hwy 27 |
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Rental property for sale located in Western Palm Beach county. Property is mostly low to middle income housing comprised of apartments, duplexes, quadplex, mobile home park that is virtually maintenance free and room to build additional apartments. A maintenance company is also included in the price and has all the infrastucture in place for a turnkey operation. Out of 700 tenants, all are paying cash or money order and maybe 20 are paying by check. |
Listing Number: 1186
Brian D’Souza - Listing Broker
270 SW Natura Avenue, , Deerfield Beach, FL 33441
Telephone - (954) 596-8060
E-mail -
bdsouza@capitalbbw.com
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| Category |
SERVICE BUSINESSES |
| Sub-Category |
Hotels & Other Lodging Places |
| Asking Price |
$20,000,000 |
| Gross Sales |
$2,839,000 |
| Cash Flow |
$1,583,000 |
| FFE |
$210,000 |
| Inventory |
$10,000 (Inventory IS Included) |
| Real Estate |
$20,000,000 (Real Estate IS Included) |
| Employees |
8 - Full-Time
2 - Part-Time |
| Facilities |
Consists of many properties: Apartment complex, duplex's, mobile home park etc, total of 6 properties and approx 150 acres in all. Cash cow, with maintenance and management in place. Most employees have been there 15 years. |
| Relocatable? |
(Is Not Relocatable) |
| Home Based? |
(Is Not Home Based) |
| Market Notes |
Thriving business in this area and has a long history of success. Rents are due for a raise and can generate about another $150K a year very easily. |
| Growth Notes |
Largest employer in the area and a nationally known company is looking to build in one of the properties backyard, an inland port that will generate about 2000 jobs and those people will need a place to live. Plenty of room on the property to build another 500 or more apartments if needed. |
| Support Training |
Seller will do whatever is necessary to make a smooth transition to the new buyer. |
| Year Established |
1985 |
| Financing Terms |
Cash at closing, buyer will need to get financing in place. |
| Reason for Selling |
Seller is looking to retire a little early and do some travelling. |
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