Real Estate Properties With Income
Location Michigan,United States
Asking Price Range $250K - $500K
Gross Revenues $66000
Net Profit / Cash Flow $25000
Cash Flow Type EBITDA
Seller Finance Not Disclosed
Year Established 2008
Number of Employees 1 - 3
Relocatable Not Disclosed
Number of Employees 1 - 3
Real Estate Owned
Description Detroit Property Sales owns 9 properties in Metro Detroit. Michigan has fantastic opportunities for investors to secure their own future through real estate. We have 7 properties for sale that are fully renovated and 5 are occupied with tenants. Rental Income is $5,500 per month. 2 properties are currently for sale with realistic market estimate between $60,000 to $70,000 per home. 2 projects are pending including a 2 unit building with 3 bedroom 1 bath and an 8 unit building with 1 bedroom 1 bath units. Renovations were completed using high standards. Homes have new roofs, furnaces, windows, painting, plumbing, updated electrical, etc.
The companies assets include all properties mentioned above plus materials for renovation.
Total Assets Conservative Estimate: $350,000 Projected 5 year Conservative Estimate: $500,000.
Revenue: $66,000 per year
Tenants can be added to 2 properties that are for sale at $900 month for $21,600 more for the year. Two additional pending projects have an estimated cost for completion of $50,000 and would have a maximum revenue of $7800 depending on rent for the 8 unit. This could increase the yearly revenue by $93,000. The total projected annual revenue is up to $180,000.
There is the possibility of another property to be added to the company prior to the sale. It is a 2 units building with tenants. We are currently receiving the rent for this property as debt repayment from work completed for the owners.
Detroit Property Sales is ready for a new owner to complete the projects and create wealth through realestate. Asking price $400,000. Partnership possibilities exist for the right investor. Email or contact Michael at 954-557-8400 if you are interested in further information.
Click Here To Contact Seller
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