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GREAT INCOME GENERATED PROPERTY WITH REAL ESTATE
| Asking Price: | $759,999 | Inventory: | $5,000 ++ |
| Gross Revenue: | Not Disclosed (comments below) | Real Estate: | $545,000 ++ |
| Cash Flow: | Not Disclosed | FF&E: | n/a |
| ++ included in the asking price ** not included in the asking price | |||
| Gross Revenue Comments: There is sufficient property and room to grow | |||
Take of advantage on investing in such well established, charming and successful unique business.
This GREAT income generating property has been established for over 6 years, has a great customer base and is well known in the occupying territory.
Sales and profits have not changed for at least 3 years. It is not a seasonal business and sales are fairly consistent throughout the year.
A significant amount of rent comes from the clients, who are living in the house for more than 3 years.
The business offers 15 spacious rooms including 3 master bedroom on each floor. The renters enjoy private, well kept full size kitchens on each floor, including refrigerators and stoves, and meeting area on first floor. Building located in down town of Riverside, only minutes from the Historic District, Mission Inn, and recreation centers.. Property Features :The building (house) was built in 1903, and has 4,227 sq. ft. of living space in a beautiful 8,470 sq. ft back yard and parking spots. R-3 zone. It operated as a Chapman House till 2002, and then sold to current owner (with over 40 beds), and after extensive remodeling/refurbishing, reopened as a income generating property in 2003, and has run continuously since.
Sales and profits have not changed for at least 3 years. It is not a seasonal business and sales are fairly consistent throughout the year.
A significant amount of rent comes from the clients, who are living in the house for more than 3 years.
The business offers 15 spacious rooms including 3 master bedroom on each floor. The renters enjoy private, well kept full size kitchens on each floor, including refrigerators and stoves, and meeting area on first floor. Building located in down town of Riverside, only minutes from the Historic District, Mission Inn, and recreation centers.. Property Features :The building (house) was built in 1903, and has 4,227 sq. ft. of living space in a beautiful 8,470 sq. ft back yard and parking spots. R-3 zone. It operated as a Chapman House till 2002, and then sold to current owner (with over 40 beds), and after extensive remodeling/refurbishing, reopened as a income generating property in 2003, and has run continuously since.
About the Business
Year Established:2000
Employees:1 full time -
Facilities:Business offers 15 spacious rooms (one tenant in each room), including 3 master bedroom on each floor. The renters enjoy private, well kept full size kitchens on each floor, including refrigerators and stoves, and meeting area on first floor.
Market Outlook and Competition:NO COMPETITION ON THE MARKET. Most renters properties, not including this one, in particular, are surviving / thriving in these difficult economic times. This house has positive cash flow every month, with no vacancy at all.
About the Sale
Management Training and Support:The current owner will provide all training, support, and transition necessary for a smooth and orderly changeover- up to 4 weeks full time, in case if new owner would like to extend business and use it as sober living facility for over 40 beds.
Reason For Selling:Owner wishes to sell this building in order to pay off mortgage for primary residence.
Attached Files - Attachment Disclaimer
 | incomeandexpensereportseptember09.pdf |
KEYWORDS: There is sufficient property and room to grow in terms of additional beds and using this property as a sober living facility up to 40 beds for $400/each
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The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. Please review the full Disclaimer here.
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