Apr 23, 2020 — Choice Branded Exterior Corridor Property in Metro-Atlanta! Zero PIP! Exit location!
For those of you trying to move to Atlanta, this is your property!
Seller is requiring proof of funds or a bank pre-qualification letter prior to sharing the address and pictures. This is a requirement from the Seller. Please do not be upset with us and shoot the Messenger!
2019 Revenue: $1,209,623 (Property under renovation)
2018 Revenue: $1,433,275
2017 Revenue: $1,254,512
2019 Net Profit: $593,116 (Property under renovation)
Asking Price: $5.1M
2019 Cap Rate: ~12%
2018 occupancy rate was 81.76% and 2018 ADR was $69.73.
2019 occupancy rate was 62.30% due to renovations, but 2019 ADR was $77.35!
Exterior Corridor is a single, beautiful building! Renovations are complete and all rooms have been upgraded! Zero PIP! The new ADR for 2020 should be nearly $80. At the same occupancy rate and higher ADR, the revenue is projected at nearly $1.7M.
2019 Net Profit before mortgage was $593,116 after manager/owner's salary of $40,000! Current owners do not work the front desk or housekeeping. Owner-operator family can generate a higher income.
Brand new, contemporary furniture. New drapes. Bathrooms completely tiled and renovated. Huge outdoor pool, exercise room with all new equipment, truck parking!
If interested, please email your full name and best contact number
Disclaimer: DealStream has not independently verified any of the information in this post and makes no warranty as to its accuracy or completeness.