Property Management Company in Puget Sound Region - SOLD!


Asking Price: $200,000

SOLD

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  Aaron Muller
Phone: 425.274.2092
Email: info@ACBrokersInc.com
 

Listing Information

Address: , Puget Sound Region, WA,
Gross Income (last 12 months):
$200,826.00
Value of Furniture, Fixtures, and Equipment:
$15,000.00
Cash Flow (last 12 months):
$89,326.00
Included in Asking Price?:
Yes
Year Established:
1998
Value of Inventory:
--
Number of full-time employees:
2
Included in Asking Price?:
No
Number of part-time employees:
0
Value of Property (if for sale also):
--
   
Included in Asking Price?:
No

Description


This is a boutique property management firm that specializes in managing residential properties including single-family homes, condos, and duplexes. Some of the services provided include leasing the rental property, tenant screening, rent collection, property maintenance, property inspections, accounting, paying the bills, etc. Having been established for 18 years, this property management company has an excellent staff and solid clientele. The company currently has two property managers. The owner works approximately 40 hours a week overseeing the operations including leasing, management agreements, acquiring new clients, advertising, office operations, and bookkeeping. Due to the desire to spend more time with her retired husband, the owner is looking to move on. This is a golden opportunity for a new owner to take over the existing clientele of a solid property management business and grow the company to the next level. The buyer will need a Washington State real estate managing broker's license to run the business.

Facilities / Location


Located in the Puget Sound Region of Washington State, this company leases a small office for $928 per month. There are approximately two years left on the lease. The office could be relocated at the end of the lease term if the buyer desires. Office hours are 9 AM to 4 PM Mondays through Thursdays, and 9 AM to 2 PM on Fridays.

Competition / Market Pros & Cons


The property management industry is considered one of the more desirable and recession-proof industries. In a good economy, the firm manages the rental properties for the property owners. Should the economy suffer and the owners lose their properties to the banks, the firm manages the rental properties for the banks. This property management company is well run, detail-oriented, and professional. The staff is well trained and the company has excellent reviews online. The business has demonstrated consistent revenues and cash flow from year to year.

Growth and Expansion Pros & Cons


With increased population growth and high demand for rental properties in the Puget Sound region, a lot more business could be obtained. A new owner with fresh energy to market the business could get more clients and grow revenues to the next level.

Support / Training Available


Seller will provide training for a smooth transition. Details negotiable.

Reason for Selling


To spend more time with retired husband.

Any Financing Seller Will Provide?


Cash at closing. Broker can assist buyer with bank financing.

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