Cactus (An Income Property)

73636 Cactus Dr

Make offer for $325,000 with $60,000 carry financing.

Asking: $325,000

Open title information
Redfin listing
Closing date: sept 1, 2017
Current NOI: $37,000
PROFORMA Airbnb NOI: $90,000

WHY: $90k net income for 6 units @$85/night 65% occupancy 25% expense ratio. Property is already rehabbed and in great condition on exterior. Asking is only $375,000 at entrance of Joshua Tree Park. Gorgeous views of mtns and sits away from major street but close enough to walk. Already has private patio and car port. Front patio can be expanded. Has laundry room. Has space for pool and outdoor shower. There might be enough space to add another 3-4 modular units.

PURPOSE: Sets up retirement income. Very easy turnkey property that will easily finance.

ACTION: LOI sent to owner direct.

Can I just buy the shares of the LLC?
When does listing contract expire?
How much does agent get paid?
How big are the units?
Can we add 6 more units?
What is the net cash flow @85/night?
How long are the leases? Month to month? When will they expire for Airbnb? $90.7K per year, $900k at 10 cap. Get motel licensing. 🙂

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UNIT MIX

APT A
800 sq ft
built in 1965
contains 1 bedroom and 1 bathroom.

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OWNER INFORMATION

Owner: Cact629, LLC
29371 Modjeska Canyon Rd. Silverado, CA 92676

ABOUT LLC

Cact629, LLC is a California Domestic Limited-Liability Company filed on April 1, 2011 . The company’s filing status is listed as Active and its File Number is 201109410090.
The Registered Agent on file for this company is Western Home Builders, Inc. (C3141588).
The company’s principal address and its mailing address is 29371 Modjeska Canyon Rd, Silverado, CA 92676
The company has 1 principal on record. The principal is Western Home Builders Inc from Silverado CA.
Steven Enochs = owner