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2627 Allen Genoa Rd - Ekko Car Wash
2 Acres of Commercial Land Offered at $1,300,000 in Pasadena, TX 77502
Investment Highlights
- Value Add
- Operating Business - Car Wash
- Seller Financing at 1.3M , 500K down , 20 amortization , 5 year term @10%
- Multiple Streams of Income
- Storage
Executive Summary
Seize the opportunity to own a distinctive mixed-use commercial gem in Pasadena's bustling core. Positioned on a lively street, this property not only offers versatility with its multiple hand car wash bays—ready for operation or upgrade to automatic systems—but also boasts 22 rentable storage units and additional space for storage containers, enhancing its income potential. Accompanied by 2 modular homes, which are a rare find and promise substantial rental income in Pasadena’s vibrant market, this investment is further sweetened by the possibility of adding a food truck rental spot for extra revenue or more storage. Despite the lack of formal financial records, the current occupancy and income generation from the majority of the storage units and modular homes speak volumes about its profitability. This is a not-to-be-missed chance to diversify your investment portfolio in a prime location.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
$116,000
|
$58,000.00
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$116,000
|
$58,000.00
|
| Taxes |
$16,000
|
$8,000.00
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$16,000
|
$8,000.00
|
| Net Operating Income |
$100,000
|
$50,000.00
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $116,000 |
| Annual Per AC | $58,000.00 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Effective Gross Income | |
|---|---|
| Annual | $116,000 |
| Annual Per AC | $58,000.00 |
| Taxes | |
|---|---|
| Annual | $16,000 |
| Annual Per AC | $8,000.00 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Total Expenses | |
|---|---|
| Annual | $16,000 |
| Annual Per AC | $8,000.00 |
| Net Operating Income | |
|---|---|
| Annual | $100,000 |
| Annual Per AC | $50,000.00 |
Property Facts
1 Lot Available
Lot
| Price | $1,300,000 | Lot Size | 2.00 AC |
| Price Per AC | $650,000 |
| Price | $1,300,000 |
| Price Per AC | $650,000 |
| Lot Size | 2.00 AC |
Seize the opportunity to own a distinctive mixed-use commercial gem in Pasadena's bustling core. Positioned on a lively street, this property not only offers versatility with its multiple assets and possibilities.
Description
Seize the opportunity to own a distinctive mixed-use commercial gem in Pasadena's bustling core. Positioned on a lively street, this property not only offers versatility with its multiple hand car wash bays—ready for operation or upgrade to automatic systems—but also boasts 22 rentable storage units and additional space for storage containers, enhancing its income potential. Accompanied by 2 modular homes, which are a rare find and promise substantial rental income in Pasadena’s vibrant market, this investment is further sweetened by the possibility of adding a food truck rental spot for extra revenue or more storage. Despite the lack of formal financial records, the current occupancy and income generation from the majority of the storage units and modular homes speak volumes about its profitability. This is a not-to-be-missed chance to diversify your investment portfolio in a prime location. Owner has no financials available. he lives out of country. Do not talk to tenants when visiting property. All information can be verified while do diligence with EM deposited. Storage market rent: 150$ Modular homes: 700$ Building 3200$ lease for juice store Seller not provided copies of the leases.
PROPERTY TAXES
| Parcel Number | 0341930000049 | Total Assessment | $643,306 (2023) |
| Land Assessment | $261,306 (2023) | Annual Taxes | $16,000 |
| Improvements Assessment | $382,000 (2023) | Tax Year | 2024 |
PROPERTY TAXES
-
Kate Myhan -
JPAR The Sears Group
Presented by
2627 Allen Genoa Rd - Ekko Car Wash
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