No Money Down Real Estate Investing Course
Learn How To Buy Income Properties Without Risk, Good
Credit, Money Or Tenants!

Click here for more information
 
Welcome, Unregistered.
User Name
Password
Forum Links
Site Navigation
Real Estate Resources
Go Back   Real Estate Investing > Real Estate General > Yahoo Investing Group
Reply
   
 
Thread Tools Search this Thread Display Modes
  #1  
Old 09-28-2005, 10:30 AM
acemcfarland
Guest
 
Posts: n/a
Default Ocean View Coastal Motel - Super Income - Great Buy!


Ocean View Coastal Motel - Super Income - Great Buy!

This Motel is a dream find for someone. Only 3.1MM with asumable
existing financing of 2.1MM @ 6.5%.

Located on the famous Pacific Coast Highway in Sonoma County CA.
Lodge accomodations and seperate Resturaunt/Bar have sweeping and
spectacular ocean views. The Lodge is comprised of 16 rooms
surrounded by spacious and picturesque grounds & gardens. Sandy
beaches, state parks, the world renown Sea Ranch and Kruse
Rhododendron Ranch with Redwood forests nearby.

The owner has thouroughly upgraded the of this 5.82 acre property.

Annual Adjusted Gross Income (pro forma) = $984,570
Projected Operating Expense (pro forma) = $627,285
Total Annual Net Operating Income (pro forma) = $357,285

Sales Price = $3,100,000

Financing:

Lender (70% LTV) = $2,170,000
Assumable 6.5%/10 year
Down Payment = $936,000
Annual Debt Service = $175,824
Cash Flow = $199,461
Cash on Cash = 21%

I think these numbers could be significantly improved if someone ran
this place with some efficiency and did some proper marketing to the
Bay Area. What a great Buy!

For more info please call or email.

PATRICK MCFARLAND
(702)429-2769
Merit Realty
PAT.MCFARLAND@earthlink.net
www.BUYnSELLvegas.com



Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is On
Forum Jump



All times are GMT -8. The time now is 12:57 PM.


Powered by: vBulletin Version 3.0.8
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 2.4.0
Copyright 2001 - 2006, Buy Income Properties, Inc. All Rights Reserved. Privacy Policy in Observance.