Craig McLaurin
Washington, DC (USA)
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McWade Properties,LLC
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Startup
Location:
Washington
Industry:
Real Estate
Year Founded:
2005
Number Employees:
1-10 people
Description:
The company began as as two person partnership in 1999 with the acquisition of a 10,000 square foot mixed use (commercial and residential) shell on Pennsylvania Ave SE (Capitol Hill) in Washington, DC 20003. The two partners formed a LLC in 2005 and used a 1.7 million dollars commercial loan to renovate (URL removed)do conversion plan was aborted in 2007. Building now contains six furnished and occuppied residential rental units and 5,000 square feet of office space (50% renovated and 50% occupied). One of the two LLC members is seeking funds to (1) buy out other member (2) complete renovation and (3) consolidate debt. Current gross income is $14,000 per month with potential gross income of $24,000 per month. THE PROPERTY IS IN A HIGHLY DESIRABLE LOCATION!