Real Estate Company

Asking Price$18,200,000

Cash Flow
$1,320,000

EBITDA$1,150,000

Gross Revenue$1,320,000

Inventory$18,200,000
Not included in asking price
FF&E$18,200,000
Included in asking price
Real Estate$18,200,000
Included in asking price
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Real Estate Company


Asking Price$18,200,000

Cash Flow
$1,320,000

EBITDA$1,150,000

Gross Revenue$1,320,000

Inventory$18,200,000
Not included in asking price
FF&E$18,200,000
Included in asking price
Real Estate$18,200,000
Included in asking price
Business Description
The company purchase, renovates, sale and rent high end properties for 30 years. All properties are completed with high-end renovations and are located in prime locations through NY and NJ. 

Currently owns 13 properties totaling 16 units: 
7 beautiful private houses in Palisades NY, Tappan NY, Nyack NY and Old Tappan NJ (all within 5-15 mins drive)
2 Condo apartments in Manhattan in same building
2 x 2 Family houses in Queens NY (company build in 2019 on same lot with shared driveway separate utilities)
1 Private small cute private house in Wallington
1 mixed used office and apartment free standing building with huge, separated address / zoned parking lot (can build another house) 

All houses separate utilities landlord pays ONLY taxes, Insurance (and water ONLY for the 2x2 family houses in Queens NY) Very easy to manage since all houses are fully renovated and occupied by great tenants. 

There are currently 4 houses with mortgage which can be paid off or assumed by the new owner and reduced from the asking price. 


61-47 Maspeth NY 2 family build 2019 all white imported brick from Spain: 3 bds 2 bath over 3 bds 3 baths duplex with full basement. Evaluation 1.6 rented at 8500/m taxes 8000/y

61-49 Maspeth NY 2 family build 2019 5 bds 3 baths duplex over 3 bds 3 baths duplex with basement. Evaluated 1.7 rented 10500/m taxes 10K/year

400 E 70 unit 206 Fully renovated 2 bds 1.5 bath very low taxes and CC's. (750/m) Evaluation 1.2 rented 6500/m

400 E 70 unit 1902 Fully renovated 1 bd 1 bath with large balcony and open view to the south of the city. Evaluation 800K rent 5000/m

94 Anderson Wallington NJ private house 3 bds 2 bath parking front yard fully renovated. Evaluated 500K rent 3500/m

139 Wallington Ave and 104 Main Ave Wallington NJ mixed used office and apartment with huge parking attached. Evaluated 1.2 rented 6500/M (owner use as office of his other business) S.B generator

12 Haring Drive Old Tappan NJ Private house almost 1 acre under gut renovation 4 bds 4 bath 2 car garage large swimming pool and outdoor kitchen. Evaluated 1.8 rent 12500/m S.B Generator

5 Century Road Private house 5 bds 3 baths 1 acre+ all white brick fully renovated 2 car garage. Evaluated 1.5 rent 6500/m S.B generator. 

8 Century Road Private houses all brick fully renovated 1 acre+ 4 bds 3 baths 2 car garage huge balcony. Evaluated 1.5 rent 7000/M. S.B generator

7 Century Road Private houses all brick fully renovated 7 bds 7.5-bathroom huge, enclosed pool, tennis court, hot tub, huge gym, sauna, office, large circular driveway 2 car garage 1.1 acre of nicest house in Palisades! Evaluated 3.5 rent 25-30K/m Fully furnished high end Furnitures many Roche Bobbies items high 350-gallon Aquarium, high-end billiard table kitchen with 2x 48-inch refrigerators, 2 Bosch dish washers, huge Island with sink large patio with high end grill and more!. Owner use as primary resident. This house can also be rented for movies and TV shows. S.B generator.

NOTE: Century Road is a dead-end street with only 9 houses which 3 are owned by the company. GREAT opportunity for large family wanting to live together. 

214 Radcliff Road Nyack NY Private house over 1 acre of land last house on the block surrounded by Nyack Park super private 2 car garage. Evaluated 950K rent 6500/M. S.B generator

125 kings hway Tappan NY Very nice, renovated cap code style house on huge corner lot with circular driveway and 2 car detached garage. Evaluated 750K rent 4500/m

22 Van Wardt Place Tappan NY Private house fully renovated 90% brick 2 car garage almost 1 acre of beautiful land on a dead-end street with only 8 houses, 5 mins walk from Tappan historic Main St. Evaluated 1.2 mil rent 7500/m S.B generator

Total Evaluation: 18.2 mil rent roll 110000/m 1320000/ per year in RR expenses about 250K
About the Business
Years in Operation
26
Employees
1
Currently Relocatable
Yes
Currently Home Based
Yes
Facilities & Assets
The company (LLC) purchase, renovates, sale and rent high end properties for 30 years. All properties are completed with high-end renovations and are located in prime locations through NY and NJ. Currently owns 13 properties totaling 16 units: 7 beautiful private houses in Palisades NY, Tappan, Nyack and Old Tappan NJ. 2 Condo apartment in NYC. 2x2 Family houses in Maspeth NY. 1 Private cute private house in Wallington 1 mixed used office and apartment free standing building with huge, separated address / zoned parking lot in Wallington (See attached)
Market Outlook / Competition
These are all high-end houses mostly in area where very hard to find a nice house for rent. The 2 condos in Manhattan are in same building on UED. The 2x2 family are on same lot. All properties are in prime locations and grouped close to each other.
Opportunities for Growth
New owner can continue run the business as it is and collect 1.3 mil in rental income or invest and purchase more houses in same area as they come out for sale. High-end beautiful private house rental in Rockland County is very good business.
Real Estate
Owned or Leased
Owned
Included in asking price
About the Sale
Seller Motivation
Retirment moving out of the country
Transition Support
Owner can operate this business part time with help of handy man. I can provide my contacts and be as support for as long as needed.
Financing Options
Currently 4 properties have mortgage of about 2.2 mil which can be assumed
Listing Info
ID
2394525
Listing Views
725

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Business Listed by: Oren

Listing ID: 2394525 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. See our full Terms of Use. Learn how to avoid scams.