TITLE:
Mountain Oaks Townhomes - 26 Individually Deeded Townhomes
CONTROL:
Partner
VALUE:
$6,160,000
LOAN:
$2,255,007
EQUITY:
$3,904,993
TYPE:
Multi-Family
HAVE:
26 individually deeded townhomes comprises the entire project. Pool, jacuzzi, large backyards, fireplaces, 2 covered parking spaces in front of each unit, strong rental market, in excellent shape with $779,000 in capital improvements in the past 5 years.
ADDRESS:
2305 Cheim Blvd., Marysville, California
BENEFITS TO NEW OWNER:
1) Strong rental market 2) HOA is in place 3) upside in rents, 4) able to sell units individually, 5 )$779,000 spent on property during past 5 years 6) assumable low interest loan
OTHER FILES:
GROSS SCHEDULED INCOME:
$519,687 Projected
VACANCY LOSS:
$10,600
GROSS EFFECTIVE INCOME:
$509,087
EXPENSES:
$204,697
NOI:
$304,390
DEBT SERVICE:
$142,398
CASH FLOW:
$161,992
CAP RATE:
4.94%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$2,255,007
$11,932
4%
07/21/2051
Yes
BENEFITS SOUGHT:
Taker, can take cash, other properties and paper for portion of equity, free up time for other projects.
CAN ADD:
Many years of creative real estate experience of putting deals together, possibly other properties.
REMARKS:
Very large units, 1.5 baths, fireplaces, w/d hook ups, large fenced yards, over all in excellent shape.
COUNSELOR:
Rex Jacobsma
Jacobsma & Assoc.
1508 Olive Street
Paso Robles, California, 93446
