Rental Property for Sale Details:
* This is a rental apartment space or monthly motel accodemation property for sale.
* The property generate about $26,000 per month gross rental income, as per owner.
BELOW ARE THE RENTAL DETAILS:
Motel area has 12 rooms plus managers room. (ALL INCLUDE CABLE TV)
Managers room= $800 a month (deducted for management expense)
Room 1-4 = Daily rental rooms for nightly stays
Room 5= Assistant managers room- Rent is $600 a month - $300 management fees.
Room 6 & 7 = Monthly room with no kitchen- $600 a month
Room 8-12 = Monthly room with kitchen- $700 a month
STUDIO UNITS with kitchen
ROOM 14-17 = $600 a month
Individual Studio units with no connecting neighbors
Room- 18-22 = $600 a month
Room 23- 1 bedroom unit = $700 a month
DUPLEX on property
A- $700 month for 1 bedroom unit
B- $800 a month for 2 bedroom with living room and kitchen
MOBILE HOME PARK
ROW A = 7 mobile homes.
ROW B= 4 mobile homes with space to add 2 more mobile homes in lane
ROW C= 4 Mobile homes with space to add 2 more mobile homes in lane
ROW D= 7 mobile homes with space to add 1 or 2 more mobile homes.
Mobile homes pricing range from $340 a month - $550 a month.
* Broker has not verify or audited the rental income and expenses. Buyer should complete its own investigations.
* The property is about 3.38 acres of lot size estimated and located in heart of Stockton City.
* The income is generated from room rental mostly on monthly basis, mobile home parking rents, and R.V. parking rents.
* It seems good investment for an investor who need regular monthly income and also the advantage of price appreciation of property later.
* Some rentals are from long time on month to month basis. which provide consistency of income.
* Currently there is loan of about $600,000 on property which is assumable to buyer at 7% interest and $3800 per month payment.
* With about $275,000 down payment, owner can finance the deal for qualified buyer.
* Disclosure: The county has filed property condition and other violations for the property. Seller shall not repair that and buyer should investigate it before buying.
* Buyer should check the zoning, permits, property condition violations, and usage applicable from city/county office.
This is Western Singh Brokers listing