Melbourne Motel
302 N Main Street, Melbourne, AR
35.16% return
LP:
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Property Description

Awesome investment opportunity!!! Clean starter motel. 18 Rooms plus a large owners suite. New Metal Roof. Tile Floors. Low Crime Area. Only Motel in town. Income can be increased by operating as weekly or monthly rentals. Weekly rentals start at $150-200 per week. Property will generate over $10,000 a month when fully occupied at $150/week. Very high returns on investment with low expenses. Property can easily afford an on-site manager. Nightly rentals will generate more income.

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units18
  • Total bedrooms0
  • Total bathrooms17
  • Building size5140 sq. ft.
  • Lot size0.0 acres
  • Year built1979
  • CountyIzard County
  • SubdivisionORIGINAL TOWN-MELBOURNE
  • ConstructionCBS
  • RoofMETAL
  • Water sourceCity
  • Water disposalSewer
  • Heating(unknown)
  • Cooling(unknown)

Property Financial Summary

  • Asking price $299,000
  • Estimated rehab 1 $0
  • Total investment $299,000
  • Type Proforma
  • Gross income (annually) $129,600
  • Operating expenses (annually) $24,478
  • Net income (annually) $105,122
  • Gross return 43.34%
  • Gross income (monthly) $10,800
  • Operating expenses (monthly) $2,040
  • Net income (monthly) $8,760
  • Net return 35.16%

Property Income & Expenses

  • Income
  • Unit 1: bed / bath $600/month
  • Unit 10: bed / bath $600/month
  • Unit 11: bed / bath $600/month
  • Unit 12: bed / bath $600/month
  • Unit 13: bed / bath $600/month
  • Unit 14: bed / bath $600/month
  • Unit 15: bed / bath $600/month
  • Unit 16: bed / bath $600/month
  • Unit 17: bed / bath $600/month
  • Unit 18: bed / bath $600/month
  • Unit 2: bed / bath $600/month
  • Unit 3: bed / bath $600/month
  • Unit 4: bed / bath $600/month
  • Unit 5: bed / bath $600/month
  • Unit 6: bed / bath $600/month
  • Unit 7: bed / bath $600/month
  • Unit 8: bed / bath $600/month
  • Unit 9: bed / bath $600/month
  • Total $10,800/month
  • Expenses
  • Electric bill $725/month
  • Internet & Phone Bill $200/month
  • Property Taxes $168/month
  • Insurance $147/month
  • Water and Sewer $50/month
  • Maintenance reserve $750/month
  • Total $2,040/month

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