Freshstart Properties President Releases Corporate Update to Shareholders
Jun 28, 2007 6:00:00 AM
TACOMA, WA -- (MARKETWIRE) -- 06/28/07 -- Mr. Maherali, President and Chief Executive Officer of Freshstart Properties, Inc. (PINKSHEETS: FSPP), today released the following to its shareholders.
To Our Shareholders:
In keeping with our commitment to communicate regularly with our shareholders, we are pleased to provide you the following updated summary of our current property acquisitions portfolio. All of these related party transactions are completed. We hope that investors and shareholders will thoroughly review these developments with same enthusiasm we feel for the progress Freshstart has made thus far. Together I believe we can make 2007 a very exciting year for all of our shareholders.
6834 South I Street, Tacoma, WA
This single-family home located at the rear of a large parcel of land was purchased for $200,000 with seller-backed financing of two notes, one long-term ($146,250), and one short term ($53,750). The home currently provides a rental income of $925/month. The lot is in the process being subdivided in half in preparation for building a second home on the front have of the property.
10229 - 19th Ave SW, Seattle, WA
This single-family home was lease optioned with a purchase price of $202,000. The lease option is for a three-year term with interest only payments. It was previously announced that this transaction would be seller-financed by two notes. However, it has since been agreed to by both parties to finalize this transaction via a lease-to-own option. The home currently provides a rental income of $950/month.
1419 South Ainsworth Ave, Tacoma, WA
This building, formerly a large Victorian home converted to a duplex, consists of one three-bedroom unit and one two-bedroom unit. The purchase price of $215,000 was seller-financed by two notes, one long-term ($127,000), and one short term ($88,000). The two units currently rent for $1390/month.
1933 South Ash Street, Tacoma, WA
This property is a two-bedroom home located at 1933 South Ash Street in Tacoma, WA. The home provides a rental income of $795/month. The purchase price of $145,000 was seller-financed by two notes, one long-term ($103,000), and one short term ($42,000).
3809 South Mason, Tacoma, WA
This two-bedroom, one-bath home property is situated on a lot which is over 10,000 sq. ft. in size and is a prime candidate to be rezoned for high-density development. The purchase price of $163,000 will be seller-financed by two notes, one long-term ($130,000), and one short term ($33,000). The current rent is $795.00/month.
714 South Yakima, Tacoma, WA
This large single-family Victorian home is located at 714 South Yakima Street in Tacoma. The property includes a detached garage. The home currently provides a rental income of $1095/month. The purchase price of $205,000 will be seller-financed by two notes, one long-term ($125,000), and one short term ($80,000).
1522 South M Street, Tacoma, WA
This property is a Victorian style building, which consists of one two-bedroom unit, two one-bedroom units, and a studio. The purchase price of $325,000 will be seller-financed by two notes, one long-term $ 228,000, and one short term $97,000. The property currently provides a rental income of $2220/month.
Finally, we have also hired Capital Pros Network to assist in media relations and expand media activity and communication in the financial markets. CPN is educating investors, the broker-dealer community and interested parties through syndication, press coverage, financial media, and multiple distribution platforms of the opportunity Freshstart offers investors. We look forward to their efforts in this endeavor. |
