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New Mexico Council of Exchangors
CONTROL: Exclusive VALUE: $700,000
    LOAN: $608,303
    EQUITY: $91,697
TITLE: SHAKER HEIGHTS OHIO 18 UNIT MULTIFAMILY
TYPE OF PROPERTY: Multi-Family
HAVE: Very nice 39730 sq ft apartment building with interior parking garage on very good boulevard in desirable Shaker Heights neighborhood of Cleveland. Very large units, could be condos?
WEBSITE ADDRESS:
PARCEL#:    
CITY, STATE: Shaker Heights, OH COUNTY:
BENEFITS TO NEW OWNER: Solid, pride of ownership building without deferred maintenance. Income, depreciation, amortization. Potential to raise rents and condominiumize. Can be delivered free and clear or used as a downpayment on your property.
GROSS SCHEDULED INCOME: $175,650    Actual
VACANCY LOSS: $8,500
GROSS EFFECTIVE INCOME: $167,150
EXPENSES: $125,000
NOI: $42,150
DEBT SERVICE: $42,480
CASH FLOW: $-330
CAP RATE: 6.02%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1: $608,303 $3,540 4.30% 2021 N
LOAN 2:      
BENEFITS SOUGHT: Out of Title, and out of Cleveland. Not area bound, she will look at value anywhere. Likes mini-storage, apartments, RV parks, MHPs.
CAN ADD: 9 units in Euclid, OH for $275,000, 78,000 sq ft office building on 30+ acres in Bedford, OH, paper, ability to get new financing, anything held by Broker.
REMARKS: I have closed many times with this client. Treat this as a 'must take' if need be. Can add cash from new financing. These are very large, nice units with very stable tenancy.
COUNSELOR: Blake Allen, EMS, CCIM
Allen Realty
108 Canon ave
Manitou Springs, CO 80829
Phone: (719) 685-0707
Cell: (719) 684-4123
Fax: (719) 685-0400
blakeallenrealty@gmail.com
 
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