Property Description:
GREAT STARTER FACILITY! SUPER CHEAP!
$ cash flow $
BIG UPSIDE!
6697 HWY 64 Hartman AR 72840
Purchase Price: $185,000
NO SELLER FINANCING IS AVAILABLE
Current and Future Income and Expenses
Current Income $1,780.00 per month at 80%
$2140.00 per month at 100% of current rates
Gross $25,680.00
Expense $3,049.00
Net Income $22,631.00
Minus 10% Vacancy $20,368.00
Projected income: stabilized occupancy and minimal rental increase
*46 units (16 10x10) (30 10x15)
*6100 sqft
*3.49 acres
*Currently 80% Occupied
*Built-in 2015
*16 Additional Units added in 2019
* 46 units Prime location on Highway 64 in Hartman, near Clarksville.
This property sits on *3.49* acres with room for additional units.
Additional units were added in 2019 and the occupancy suggests that additional units are needed.
This is a value add opportunity for a self-storage investor who is looking for immediate cash flow.
*Security Cameras
*Boots on the Ground
*Gross rents shown in the Pro-forma have been raised by $10 and $15
The rental raise is very minimal and still under-market in my opinion rents can be raised and re-raised after another 6 months $5.00 to $10.00 depending on unit size.
The facility needs larger signage and Advertising
3rd Party Management will provide a Website, Payment portal, Tenant insurance, and Tenant dashboard.
Feel free to give me a call to discuss Rebecca Jensen at 801-865-4167
Full OM and financials are available for serious cash buyers.
A $5000 Earnest money deposit will be required to hold this property. Buyers will have a short due diligence period.
rebecca@weofferoptions.com