TITLE:
PALMER PROPERTIES
CONTROL:
Owner
VALUE:
$734,400
LOAN:
$378,992
EQUITY:
$355,408
TYPE:
Homes/Condos
HAVE:
Three performing rentals in Longview/Kelso area. Individual loans are noted on the previous packages
ADDRESS:
varies, Longview, Washington
BENEFITS TO NEW OWNER:
All within a mile of each other. Rent increases of $100-$300 on turnover. recently raised.
GROSS SCHEDULED INCOME:
$40,740 Actual
VACANCY LOSS:
$1,200
GROSS EFFECTIVE INCOME:
$39,540
EXPENSES:
$9,336
NOI:
$30,204
DEBT SERVICE:
$20,772
CASH FLOW:
$9,432
CAP RATE:
4.11%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$378,992
$2,671
6%
12/31/2027
Yes
BENEFITS SOUGHT:
Improve position
CAN ADD:
1989 Remodled Marlette 924 sqft-$28,500; Cunningham lots $50,000; Cathlamet lot $39,500.
REMARKS:
Long-term tenants in each property. Remodeled, painted, and reroofed all in the past 5 years.
COUNSELOR:
Hal Palmer
PDG Services
P. O. Box G
Longview, Washington, 98632
