THIS LISTING HAS BEEN SOLD. This is a highly confidential and profitable property management company in the north end. The company manages over 1,000 units from single-family homes to small apartments to 100+ unit apartments. The company does not manage any commercial space; only residential. The company does not manage any homeowner associations. There are 6 full-time employees and 2 part-time employee, including a bookkeeper, tenant relation coordinators, and multiple property managers and on-site managers. The owner works full-time in the business doing general management, and overseeing the largest apartment communities with the help of on-site managers. After 20+ years of running the business, the owner is feeling a little bored, and wants to do something different, travel, and spend more time with family. This is a rare opportunity to acquire a well-run, well-known, and well-established property management company and grow it to the next level. In order to operate this business, the buyer needs to possess a Managing Broker’s license with the Washington State Department of Real Estate Licensing or hire someone who has this license to be the designated broker. NOTICE: THIS IS A HIGHLY CONFIDENTIAL LISTING. THE NDA WILL BE STRICTLY ENFORCED IF VIOLATED.
The company leases an office space for $2,900 per month + NNN. The location will only be disclosed after the buyer signs the NDA and passes the qualification process by Advantage Commercial Brokers.
Competition / Market Pros & Cons
The company has been established in the community since 1978. It is well-known, well-established, and well-run. Revenues and profits have been stable with the owner’s discretionary income in excess of $300,000 every year.
Growth and Expansion Pros & Cons
The owner does not do a lot of marketing. Most of the new business comes from word-of-mouth referrals. A new owner with fresh energy can focus on marketing and grow business to the next level.
Support / Training Available
Seller is willing to train. Details negotiable.
Reason for Selling
To spend more time with family.
Seller Will Provide?
Cash at closing. Broker can assist Buyer with obtaining bank financing.