Efficiency Apartments and Manager's Suite
Key Financials:
Yearly sales are currently $118,000!
Net profit is $65,000 per year AFTER paying all other expenses including a Manager's Salary of $13,000 per year that occupies the Manager's Suite onsite.
The out-of-town manager will leave upon the sale. Seller's manager can provide one week of training after closing.
Perfect for an owner-operator to take home $78,000 per year! That is an extremely high 22.34% Cap Rate!
Apartment Complex currently charges $199 weekly and Average Daily Rate is $65!
20 rooms plus manager's suite included!
New A/C Units
New 40” LED Flat Screen TVs!
Spacious Living Quarters with 4 Bedrooms & Large Living Space for the Manager
All 20 rooms are fully booked for two months each year when the Georgia Pacific plant shuts down for cleaning!
Recent improvements include freshly painted floors and exterior, along with approximately $50,000 invested in quality upgrades throughout the property.
Property includes one acre of land! The traffic count is 5,230 vehicles per day.
Located just 20 minutes from a Georgia Pacific manufacturing plant employing 2,500 people, plus minutes from a major gas company and a power plant!
Nearby restaurants like Hot Stuff Pizza, Kain's Tex-Mex, Burns & Burns, Bama Crawfish Co, Subway, and McDonald's!
Close proximity to Butler Apartments, Linden Apartments, and surrounding rental properties serving Choctaw County!
Nearby hotels like The Mason Downtown, Western Inn Butler, and The Mason!
Close proximity to Choctaw County Elementary School, Choctaw County High School, Patrician Academy, and U Matter Academy collectively serve over 1,000 students and faculty!
Only 45 minutes from Meridian, MS! 1 hr 30 min from Tuscaloosa, AL! 2 hrs from Jackson, MS! 2 hrs 20 min from Montgomery, AL and Birmingham, AL!
Asking Price for the Business and Property is only $349,000! Pay less than the price of a house for a fully income-producing property!
Seller is willing to Lease-Purchase the Property for $120,000 down payment! Avoid going to the bank!
Financials (USD)
Asking Price $349,000
Cash Flow $65,000
Sales $118,000
Deal Terms
Represented by broker? Yes
Buyer Fee? Available On Request
Seller Financing? Available On Request
Willing to co-broke? Available On Request
Principals only? Available On Request
Franchise? Available On Request
Management will stay? Available On Request
Relocatable? Available On Request
Real Estate? Available On Request
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