A unique opportunity to purchase a 9 unit room and board facility including the real estate.... The location is 1.8 miles or a 6 minute drive to Cal State University East Bay. The facility is a one story building with 9 private bedrooms which each contain a single bed, dresser, built-in closet, desk, chair and desk lamp. There are two common bathrooms which contain a shower, sink and toilet and there is a laundry room with washer and dryer, a storage room and an outdoor patio area with seating. There is a full kitchen which is accessible to all residents which includes a large size 2 full door commercial refrigerator, 4 burner stove with oven, microwave, dishwasher, toaster, coffee maker, storage cabinets and large sink. There is a parking lot available for most residential tenants. Current monthly market rents for the units are $950 for standard room, $1,000 for larger room and $1200 for room with private bath. All rents include utilities, free internet connections, parking and access to the kitchen and other amenities. For comparable studio apartments in the area the average monthly rental is $2000 per month + utilities as an additional charge. Projected gross income is $106,200 yearly before vacancy and operating expenses. Projected net income is $76,542 after 5% vacancy and 5% management fee and before property taxes.

General Info

  • OrganizationCorporation
  • EstablishedContact for Info
  • Current OwnerContact for Info
  • EmployeesN/A
  • Reason For SaleOther Interests

Facilities

  • SeatingN/A
  • Square Feet2,230 building; 9,956 lot
  • ParkingContact For Info
  • LicensesContact For Info
  • Open HoursN/A

Lease

  • RentReal Estate Included
  • ExpirationReal Estate Included
  • Yearly IncreaseReal Estate Included
  • OptionReal Estate Included
  • DepositReal Estate Included

Financials

  • Monthly RevenueN/A
  • Monthly Cash FlowN/A
  • Annual RevenueN/A
  • Annual Cash FlowN/A
  • PayrollContact For Info

Financing

  • Down PaymentContact For Info
  • Note BalanceContact For Info
  • Terms of NoteContact For Info
  • All CashContact For Info

DISCLAIMER: The above financial information was supplied by the seller and has not been verified by broker. Broker makes no representation about the accuracy or completeness of the information and does not guarantee future performance. It is the responsibility of a prospective buyer to make their own inspection of all financial and other business records, and to seek independent financial and legal counsel regarding any purchase of this business and/or real estate.

Location