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 and locally managed.
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. Residential depreciation. Good cashflow. Good after-tax return on investment.
GROSS SCHEDULED INCOME: $49,500    Actual
VACANCY LOSS: $2,500
GROSS EFFECTIVE INCOME: $47,000
EXPENSES: $23,900
NOI: $23,100
DEBT SERVICE: $13,067
CASH FLOW: $10,033
CAP RATE: 8.40%
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.
CAN ADD: 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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