NCE National Council of Exchangors
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National Council of Exchangors
CONTROL: Exclusive VALUE: $1,000,000
    LOAN: $608,303
    EQUITY: $391,697
TITLE: SHAKER HEIGHTS OHIO 18 UNIT MULTIFAMILY
TYPE OF PROPERTY: Multi-Family
HAVE: Very nice 39730 sq ft apartment building with interior parking garage on very good boulevard in desirable Shaker Heights neighborhood of Cleveland. Very large units, could be condos?
WEBSITE ADDRESS:
PARCEL#:    
CITY, STATE: Shaker Heights, OH COUNTY:
BENEFITS TO NEW OWNER: Income, depreciation, amortization. Potential to raise rents and condominiumize. Can be delivered free and clear or used as a downpayment on your property.
GROSS SCHEDULED INCOME: $175,200    Actual
VACANCY LOSS: $8,250
GROSS EFFECTIVE INCOME: $166,950
EXPENSES: $110,000
NOI: $56,950
DEBT SERVICE: $42,480
CASH FLOW: $14,470
CAP RATE: 5.70%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1: $608,303 $3,540 4.30% 2021 N
LOAN 2:      
BENEFITS SOUGHT: Out of Title, and out of Cleveland.
CAN ADD: $4MM First Note on or Title to 78,000 sq ft office building on 37 acres in Bedford, OH, 9 units in Euclid, OH, Notes on RV Parks or ministorage, $3.4MM ministorage in ABQ, NM, anything owned or represented by Broker.
REMARKS: I have closed many times with this client. Treat this as a 'must take' if need be. Can add cash from new financing. These are very large, nice units with very stable tenancy.
COUNSELOR: Blake Allen, EMS
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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