Debt Partner Needed - Self Storage Unit
Hello,
I have storage unit deal that I need a partner on. It’s a grade C facility with a solid cash-flow. Expansion to include outside storage and add-ons to generate additional income is there. Currently the unit is 75% occupied (166 units). Summer months the occupancy goes up. Gated property built in 1995.
Negotiated the property for $355K. Valuation is at $410K.
Would like to do a debt partnership. Exit plan is 3 years.
Gross Income Potential: $94,086 (30% vacancy accounted for)
Total Controllable Expenses: $23,457
Total Non-Controllable Expenses: $11,465
Gross Expected Income: $59,164
The operating expense statements are on hand. A solid marketing plan and add-ons will increase the margins.
Inbox me if you’re interested in more information. I will be happy to send statements to anyone serious about partnering.