Description
$2,350,000 Appraised value AS IS without full occupancy! $1,800,000 list price. This is an opportunity for an investor with LONG TERM GOALS. Instant equity & revenues that will cover most conventional loan terms. Since the storage units are fully not occupied is why the facility is being offered at an almost 25% discount. Newly constructed 16,000 sq ft facility. Seller also has an investment opportunity with a short timeline for execution. Owner is open to creative financing, owner financing or loan assumption. Currently an SBA loan. Currently generates $11,300 monthly ($135,600 annually) at 67% occupancy. Full occupancy generates $17,800 monthly ($213,600 annually) at current rates. Fixed Monthly expenses are less than $800 per month. This includes electricity, internet, insurance, rental software, property taxes, lawn care etc. OWNER WILL GUARANTEE CURRENT RENTAL INCOME FOR SIX MONTHS after closing so the new owner can concentrate on increasing occupancy without worry of loss of income by current renters. The current owner is not advertising discounts so as to not bind the future owner to lower income. Great for 1031 exchange or generating write offs for taxes while generating income. $61,500 yearly depreciation plus other deductions. Property is also ready for expansion on the eastern side with additional building or pods (Janus international can make steel portable units up to 10x30 in the same color scheme and clarified as equipment which eliminates the building permit process). Southern side of the property just across the entrance can be cleared and used for RV/Boat storage for additional income. State of the art security cameras and digital gate /door access. One of only two companies in the county with paved drives. Rent online pay online makes this truly passive income without the need of onsite management. Name, contact info, software and support Along with current tenants transfer to new owner. Completely Turnkey with zero downtime.
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0BEDS
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2.05ACRES
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0BATHS
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01/2 BATHS
Description
$2,350,000 Appraised value AS IS without full occupancy! $1,800,000 list price. This is an opportunity for an investor with LONG TERM GOALS. Instant equity & revenues that will cover most conventional loan terms. Since the storage units are fully not occupied is why the facility is being offered at an almost 25% discount. Newly constructed 16,000 sq ft facility. Seller also has an investment opportunity with a short timeline for execution. Owner is open to creative financing, owner financing or loan assumption. Currently an SBA loan. Currently generates $11,300 monthly ($135,600 annually) at 67% occupancy. Full occupancy generates $17,800 monthly ($213,600 annually) at current rates. Fixed Monthly expenses are less than $800 per month. This includes electricity, internet, insurance, rental software, property taxes, lawn care etc. OWNER WILL GUARANTEE CURRENT RENTAL INCOME FOR SIX MONTHS after closing so the new owner can concentrate on increasing occupancy without worry of loss of income by current renters. The current owner is not advertising discounts so as to not bind the future owner to lower income. Great for 1031 exchange or generating write offs for taxes while generating income. $61,500 yearly depreciation plus other deductions. Property is also ready for expansion on the eastern side with additional building or pods (Janus international can make steel portable units up to 10x30 in the same color scheme and clarified as equipment which eliminates the building permit process). Southern side of the property just across the entrance can be cleared and used for RV/Boat storage for additional income. State of the art security cameras and digital gate /door access. One of only two companies in the county with paved drives. Rent online pay online makes this truly passive income without the need of onsite management. Name, contact info, software and support Along with current tenants transfer to new owner. Completely Turnkey with zero downtime.
© 2023 High Country Association of Realtors MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or MartinGroup Properties. Data last updated: 2023-12-07T15:47:39.247.