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Oct 22, 2019 — Property Highlights:
Well-Maintained, Interior Corridor
Rentable Rooms: 37
Manager's Apartment Size: 3 rooms
2018 Revenue: Over $225,000
Seller's Bottom line: $645,000
Revenue Multiplier: 2.87x
County Property Records indicate the property value at $595,827!! See attached county records. The County Records do NOT account for the FF&E, like the beds and furniture, and the business value!!
Please see attached 2019 January to June P&L. Seller will show approximately $160,000 on the tax return. Hotel is doing approximately $250,000 in actuality for 2019.
Seller's bottom line price is $645,000! The Seller is having issues with his brother who is also operating the property.
Buyer must bring $200,000 in order to secure the bank loan for the property.