Property Management Nets $240,000 YR.

Alameda County, CA (Relocatable)

Property Management Nets $240,000 YR.
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Asking Price: $525,000

Cash Flow: N/A

Gross Revenue: $501,992

EBITDA: $240,000

FF&E: $40,000

Inventory: N/A

Rent: $1,913 /Month

Established: 1989

Property Management Nets $240,000 YR.

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Business Description

Property Management NETS $240,000 YR.

Property Management Company established in 1989 same owner. Seller has (3) employees who are bilingual each of whom average time employed with the seller is 6 years. There are appox. 465 units that the seller and staff manage. Sellers accounts consist of Single family units, duplex's, triplex units with many apartment complexes consisting of anywhere from 10 units to 64 apartment units. Virtually all properties are within 15 to 20 minutes drive of sellers office with the exception of on apartment complex which is in the Fairfield area. Seller carries a vacancy rate of approx. 2 to 3% with annual increases. Seller works approx. 40 hours per week and is willing to stay on with buyer for a smooth transition in such a way that the sellers accounts will not even know he sold. Sellers contracts are for one year and automatically renew annually. His contract fees range from 5% to 7% with each property owner. BUYER MUST HAVE A CALIFORNIA BROKERS LICENSE AND HAVE AT LEAST 3 OR MORE YEARS EXPERIENCE IN PROPERTY MANAGEMENT. The Capital Group in Business Brokerage for over 40 years will arrange SBA financing on the sale with approx. 125,000 down. DON'T MISS THIS !!!

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
1,400
Lease Expiration:
3/31/2019
Employees:
3
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Seller leases office space in a converted home many years ago. Seller has been on a month to month lease basis for well over 20 years. Office is relocatable up to the discretion of Buyer.
Competition:
I am sure there is competition in this market. However, the sellers accounts have been on cruise control for many,many years.
Growth & Expansion:
Seller has been in a comfort level for many years. Any buyer will recognize that there is room for all types of expansion throughout the bay area.
Support & Training:
Seller will be very flexible and will stay on with buyer for as long as needed. Seller wants to transition in such a way that the sellers accounts do not even know he left.
Reason for Selling:
Retiring
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(from currently available funds)
 
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michael marich

Business Listed By:
michael marich

The Capital Group

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