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If you are looking to buy a business or sell a business, GlobalBX can help you. GlobalBX is a free business for sale listing exchange that provides a confidential forum to facilitate the buying and selling of businesses with thousands of businesses and franchises for sale as well as comprehensive business information for business buyers and business sellers. Buy a business, sell a business, find a franchise for sale or franchise opportunity at GlobalBX. Click Here to access GlobalBX's full site.

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Rental Property Business 16 Houses, Inc.

Location  New York,United States
Asking Price Range  $500K - $1.0M
Gross Revenues  $160000
Net Profit / Cash Flow  $90000
Cash Flow Type  EBITDA
Seller Finance  Yes
Year Established  2003
Number of Employees  1 - 3
Relocatable  No
Number of Employees  1 - 3
Real Estate  Owned
Training  Yes, available if needed.
Reason for Sale  Would like to separate partnership.
Description  There are 16 separate properties and 23 units all located in Lockport, NY and the surrounding area. All records are available for viewing for serious buyers including tax returns. Asking price: $799,000 Appraised value: $881,000 Gross rents at 90% occupancy: $12,020 Taxes and insurance: ($3,267) Management fee 10% of rents: ($1,202) Income before mortgage and maintenance: $7551/month The maintenance on all houses last year was $1,300/month (not including labor) My management company would still continue to manage all properties if needed. I have always had occupancy rates over 90%. I can hold part of the mortgage but the terms would have to be 50% down, 50% owner financing, amortized over 30 years, balloon in 10 years with option to extend financing. Summary for all properties: Address Units Appraisal Sale Price Rents Tax & Ins.Net Inc. 9 Corinthia St. 1 $50,000 $50,000 $725 $300 $425 51 Randolph 2 $74,000 $70,000 $1,250 $300 $950 85 Elmwoo 4 $80,000 $80,000 $2,075 $329 $1,746 95 Caledonia 1 $58,000 $50,000 $700 $180 $520 109 Chestnut 2 $60,000 $50,000 $875 $170 $705 137 Chestnut 1 $42,000 $35,000 $575 $150 $425 159 Prospect 2 $60,000 $50,000 $1,025 $208 $817 176 N. Transi 1 $52,000 $50,000 $700 $117 $583 190 Erie St. 2 $60,000 $50,000 $900 $224 $676 295 Clinton St. 1 $58,000 $50,000 $650 $174 $476 304 Clinton St. 1 $30,000 $30,000 $550 $130 $420 305 Chestnut 1 $52,000 $45,000 $655 $200 $455 373 N. Transit 1 $52,000 $50,000 $725 $180 $545 475 Hawley St. 1 $56,000 $50,000 $750 $235 $515 3913 W. Fair C 1 $45,000 $45,000 $550 $150 $400 5656 Old Saun 1 $52,000 $44,000 $650 $220 $430 Totals: 23 $881,000 $799,000 $13,355 $3,267 $10,088 Spreadsheets are available with information about each unit, tenants, and expenses for each year. Email or call 716-514-8828
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