Beds: 124 Baths: 124
Here are 124 Studio Units in 4 separate buildings at Colonial Apartments
located minutes from Downtown Orlando on Colonial Drive.
Each building has 31 units and can be purchased for $2.5 M each, or as a
portfolio of 124 Units.
All the units have been remodeled in 2019 including kitchen, flooring, and
bathrooms. Every unit in the complex is rented for $785 monthly.
The property has a beautiful community pool with deck, basketball
the court and each building have their own washer & dryer utility room.
Cash Flow Portfolios like this one typically doesn't have the kind of returns
this property has and especially, not in this kind of condition.
Property management is in place for someone who would like to continue
having them oversee the property.
The location is fantastic and surrounded by everything you can imagine
including all major roadways, 408, I-4, and Colonial Drive.
• Price: $100M + 3%
. 424-unit Garden-Style Apartment Community located in Miami.
. It was built in 1987 and renovated in 2018
• The property’s ideal location provides easy access to I-95, downtown, Miami International Airport via the Don Shula Expressway, I-75 and the Florida Turnpike via the Ronald Reagan Turnpike.
. This location provides residents with easy access to major employment areas throughout the
Miami-Ft Lauderdale Metropolitan Area.
. Current ownership spent $3.4 million in 2018 upgrading both the community amenities and unit interiors.
• The property is a prime Value-Add Opportunity for an investor with further upgrade potential to units including rolling out a cable/WiFi program, bathroom renovations, closet-systems, new kitchen faucets, NEST thermostat, tile backsplash, and keyless entry.
• Renovated community amenities include a beautifully renovated clubhouse, new exterior paint, parking lot repairs, new landscaping, an outdoor kitchen, fresh new pool deck & furniture, bark park with agility equipment, newly renovated 24/7 State-of-the-Art Fitness Center, and a package locker.
• Unit renovations include granite countertops, SS appliances, European cabinets and handles, upgraded faucet and under mount basin sink, plank wood vinyl flooring in all wet areas, and USB outlets.
. This is luxury as its finest. Was 100% occupied on 1/31/2020 & that was at the effective rent of $2,697
. They had some attrition since the virus
. All of the extremely update units are two bedrooms and 2 bathrooms and all of the units are 800 square feet this is stabilized
. Even though this is a stabilized rental property, the rents are about 90% of market rent
. From 4th quarter 2016 through the first month of 2020, there were no vacancies.....zero
. There 15 buildings and there are 4 units per building on this 1.49-acre parcel
.Property is adjacent to a 165 slip Marina with easy ocean access.
. 52 of the 60 units have a direct water frontage, the other 8 partials.
***For More Information, we will need a Proof of Funds, Letter of Intent, signed Non-disclosure Agreements.
This asset is located in a really nice area and neighborhood, close to the University of South Florida, near Fletcher Avenue
It is 2 stories, built-in 1971 and totally renovated from the studs and these units are beautiful
Purchase Price: $24.5M + 3%
Net Operating Income is $1,256,342.
Cap Rate is 5.2%
The buyer may if they choose to, take advantage of an assumable loan originated in February 2018.......the loan balance is about $11,000,000
It is Fannie Mae Loan. The interest rate is fixed at 4.57%, amortized over 30 years and the loan matures in February 2028 exes have 3 bedrooms, 1 bathroom unit. Each duplex is separately metered for water and electricity.
Currently, all units are rented below market value at approximately $528 per month. Market rent in the area averages $700-$800 so there is a nice opportunity to increase rents and increase your net returns.
The property comes with a walk-in Cap of above 10% that can easily be moved upwards of 15%.
All units have been recently painted, some windows have been replaced, updated electrical panels, metal roofs, and more. The units have terrazzo floors and concrete block walls making this a low maintenance property. Please contact us today to secure this deal.
200 Units Florida
● Purchase Price: $28,500,000
● NOI: $1,563,382
● Cap: 5.49%
● Total Units: 200
● Number of Buildings: 19
● Building Size: 119,904 sqft
Rare Value-Add Opportunity in the Core of Naples, FL
• Significant New Developments in the Immediate Area
• Lack of Rental Housing in Naples Ensures Long Term Rent Growth and Appreciation
• Phase I, 16 Units Built-in 1968 (8 Units Rebuilt in 2018) and 80 Units Built-in 1986
• Phase II, 104 Affordable Units Built-in 2001. Restrictions Through 2031
• Property is Eligible for Qualified Contract Process
• Located 1.6 Miles from Downtown Naples & Many Retailers
• 0.6 +\- Acres of Land Included with Sale
• 23 Garages On-Site
• Amenities Include 2 Sparkling Pools, 2 Laundry Rooms, Leasing Office & Business
Center, Gym and Picnic Areas
• The 2 Pools, Gym and Clubhouse Have Been Refinished and Upgraded Within the Last
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