NCE National Council of Exchangors
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National Council of Exchangors
CONTROL: Buyer's Broker VALUE: $275,000
    LOAN: $160,000
    EQUITY: $115,000
TITLE: NINE APARTMENTS IN EUCLID OHIO(CLEVELAND)
TYPE OF PROPERTY: Multi-Family
HAVE: Eight 2br and one 1br apartments in one brick building on Euclid avenue in Euclid, OH. Fully leased.
WEBSITE ADDRESS:
PARCEL#:    
CITY, STATE: Euclid, OH COUNTY:
BENEFITS TO NEW OWNER: Mailbox income with management in place. New roof, foundation work, and other major repairs done so this one can run itself.
GROSS SCHEDULED INCOME: $55,517    Actual
VACANCY LOSS: $5,000
GROSS EFFECTIVE INCOME: $50,517
EXPENSES: $31,536
NOI: $18,981
DEBT SERVICE: $13,067
CASH FLOW: $5,914
CAP RATE: 6.90%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1: $160,000 $1,089 5.00% 2022 Y
LOAN 2:      
BENEFITS SOUGHT: Some cash and a new opportunity. Mini-storage. More apartments. RV Parks. MHPs. Wants to go up, and can carry paper to get there.
CAN ADD: 18 units in Shaker Heights, Mini-storage in ABQ, NM, paper, signature, anything owned or controlled by Broker.
REMARKS: I have closed over $12MM with this client. Just looking for some short term cash or some paper, or another opportunity. Might like something seasonal that makes more in the winter than the summer. Understands 1031 paper.
COUNSELOR: Blake Allen, EMS, CCIM
Allen Realty
108 Canon ave
Manitou Springs, CO 80829
Phone: (719) 685-0707
Cell: (719) 684-4123
Fax: (719) 685-0400
blakeallenrealty@gmail.com
 
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