Residential Income Details
This is a 40 unit property in transition from a Time Share project to apartment or multi condo unit rental. For all intents and purposes 23 of the 40 units are newly conceived as apartments and the units are just now in the process of being offered for long term rentals. Recently, the Timeshare management company was tasked to start renting 18 of the 23 units under long term rental agreements. The remaining 17 unit Timeshare project and its management company are not currently offered for sale. The information provided by the seller herein contains the prorated expenses along with the current and projected rent rolls for 23 the units being offered for sale. The owner will carry with a 1/3 down payment in cash or acceptable tradable equity. The buyer's cash down payment is the only qualification for the seller carry back first trust deed at 6% interest only, with monthly payments of $8,316.67 all due and payable at 72 months. Financing may be extended through negotiation ?at end of term?. The 23 units offered herein are located in a private resort know as Silver Lakes, which offers a Vacation where you Live' lifestyle, consisting of two lakes totaling 277 acres for boating, fishing, swimming, a 27 hole championship golf course, RV Park, Equestrian Center and a 20,000 square foot Clubhouse with tennis courts pool, gym, library, meeting and event halls, all of which are available to your tenants. Current CAP is 9.18%, Pro Forma CAP is 9.95%
|Number of Units||23|
|Listing Brokerage||Landcore Realty|
|Listing Agent||Kristen Maley|
|Listing Agent BRE #||01334712|
|Co-Listing Agent||Robert Keeran|
|Co-Listing Agent BRE #||00524765|
Based on information from California Regional Multiple Listing Service, Inc. as of Thursday, January 25, 2018.
This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing.
Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS.
Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals.
Information from sources other than the Listing Agent may have been included in the MLS data.
Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources.
The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.