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78 Unit Hotel / Apartment Building
Location Arizona,United States
Asking Price Range $1.0M - $2.5M
Gross Revenues $500000
Net Profit / Cash Flow $235000
Cash Flow Type Sellers Discretionary Cash
Seller Finance No
Year Established 1986
Number of Employees 6 - 9
Inventory 100000
Relocatable No
Number of Employees 6 - 9
Real Estate Owned
Reason for Sale Need capital to close purchase in time for 1031 ex
Description 78 Unit Apartment Building on 2.5 Acres converted a few years ago from Motel. As a result of appraiser's too conservative classification as Extended Stay Motel rather than apartment building, loan would be delayed past present closing deadline of 4/20/03. Need investor with $1,500,000 immediately for 70% interest. Expect better than 10% return, plus excellent development potential on adjoining 5 Acre vacant parcel.
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