JUST REDUCED.. 27 Properties 36 Units and Home Repair Business

Nelsonville, OH (Athens County)

Seller Financing Available
Work Shop Gas Furnace and AC 200 AMP Service Insulated
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Asking Price: $720,000

Cash Flow: $215,000

Gross Revenue: $300,000

EBITDA: $215,000

FF&E: $150,000

Inventory: $15,000

Real Estate: $1,000,000

Established: 1992

JUST REDUCED.. 27 Properties 36 Units and Home Repair Business

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Business Description

Bring OFFER Seller wants SOLD Fantastic Opportunity

The current owner does work also for home repairs and for other landlords through out the County. This is a highly desirable area for landlords as approximately 40 percent of the housing are rentals with Ohio University and Hocking College both located here. Further this is a tourist destination for the Hocking Caves and the new owner may want to expand into the Bed and Breakfast industry. The new owner can increase the revenue by expanding more into the repair portion of the business for landlords and home owners. This is a widely untapped market with no licensing required for this type of business. The owner will provide a list of contacts who want your company to be their full time repair, cleaning and go to person for all their property needs. The current owner is retiring and has spent decades building this business that has potential to increase the revenue double in just a few years. This all secured with the value of the properties alone, so you never have to worry about your position of the business value. Currently this is ran absentee and can greatly gain revenue by hands on owner. There are 2 full time 1099 workers and dozens of specialized job subcontractors who are used as needed. The owner is willing to sell any one property or make smaller package deals, but would prefer to sell the entire package.

Attached Documents


Detailed Information

Inventory:
Included in asking price
Real Estate:
Owned
Included in asking price
Building SF:
N/A
Employees:
2
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
There are 27 various properties throughout the Athens County Area with 36 total units for sale. This PACKAGE is showing and incredible 27.96% NET ROI. Included in the sale is a current work van, thousands and thousands of dollars of equipment and tools, a 950 Square Foot Metal Building work shop with parking, 200 AMP service, Heat and Air with storage shelving built in and a 10 foot high double electric garage door. Numerous other storage buildings on properties that are used for storage of materials and supplies.
Competition:
There is almost no competition to the repair business in this area. The rental portion of this business keeps all the units full all the time as there are approximately 26,000 students each year in a county with a population of only 68,000 people. A recent study showed that over $154 million dollars were spent by tourist in this breath taking picturesque community.
Growth & Expansion:
Tourism and the home repair areas are where an immediate need lie, with little to no more investment. The new owner could up grade current rentals to achieve higher rents and a higher asset value. One could even buy this extremely well priced package and upgrade and sell some of the properties for a quick return on investment. The real estate alone is a fantastic value at just a little over $21,000 per unit.
Financing:
Seller may carry some financing or a second mortgage. Rate and term TBA
Support & Training:
The current 1099 workers are all willing to stay one being a manager that will stay for 30 days at the current owners expense to facilitate a smooth transition. The current owner will also be available for full consultation as needed by the new owner.
Reason for Selling:
The owner is attempting to retire and enjoy his life.
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Business Listed By:
bryon graf

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