Property Management Company - Profitable!

WA

Property Management Company - Profitable!
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Asking Price: $949,950

Cash Flow: $310,673

Gross Revenue: $854,608

EBITDA: N/A

FF&E: $6,123

Inventory: N/A

Established: 1978

Property Management Company - Profitable!

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Business Description

Property Management Company in North End

This is a highly confidential and profitable property management company in the north end. The company manages over 1,000 units from single-family homes to small apartments to 100+ unit apartments. The company does not manage any commercial space; only residential. The company does not manage any homeowner associations. There are 6 full-time employees and 2 part-time employee, including a bookkeeper, tenant relation coordinators, and multiple property managers and on-site managers. The owner works full-time in the business doing general management, and overseeing the largest apartment communities with the help of on-site managers. After 20+ years of running the business, the owner is feeling a little bored, and wants to do something different, travel, and spend more time with family. This is a rare opportunity to acquire a well-run, well-known, and well-established property management company and grow it to the next level. In order to operate this business, the buyer needs to possess a Managing Broker’s license with the Washington State Department of Real Estate Licensing or hire someone who has this license to be the designated broker. NOTICE: THIS IS A HIGHLY CONFIDENTIAL LISTING. THE NDA WILL BE STRICTLY ENFORCED IF VIOLATED.

Detailed Information

Employees:
6 FT, 2 PT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The company leases an office space for $2,900 per month + NNN. The location will only be disclosed after the buyer signs the NDA and passes the qualification process by Advantage Commercial Brokers.
Competition:
The company has been established in the community since 1978. It is well-known, well-established, and well-run. Revenues and profits have been stable with the owner’s discretionary income in excess of $300,000 every year.
Growth & Expansion:
The owner does not do a lot of marketing. Most of the new business comes from word-of-mouth referrals. A new owner with fresh energy can focus on marketing and grow business to the next level.
Financing:
Cash at closing. Broker can assist Buyer with obtaining bank financing.
Support & Training:
Seller is willing to train. Details negotiable.
Reason for Selling:
To spend more time with family.
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Aaron Muller

Business Listed By:
Aaron Muller

Advantage Commercial Brokers

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