*** ********* ***, ********, FL
3.60% return
LP:
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Property Description

Incredible investment opportunity. Fully occupied and operating 38 unit apartment complex on 3.5 acres of land! One of the fastest growing cities in Florida. 6 units have central heat and air, the rest are window units. Very low maintenance and expenses. Property has an on-site manager with an office. High return on investment. Sold at a discount, worth $2mil at 8% cap.

Property Information

  • Listing statusSold
  • Property typeMulti Family
  • Total units38
  • Total bedrooms39
  • Total bathrooms39
  • Building size(unknown)
  • Lot size3.4 acres
  • Year built1963 - 1964
  • County******** County
  • Subdivision********** *********
  • ConstructionCBS
  • RoofAsphalt
  • Water sourceCity
  • Water disposalSeptic
  • HeatingWall unit, Central
  • CoolingWall A/C Units, Central

Property Financial Summary

  • Asking price $1,750,000
  • Estimated rehab 1 $0
  • Total investment $1,750,000
  • Type Actual
  • Gross income (annually) $152,340
  • Operating expenses (annually) $89,416
  • Net income (annually) $62,924
  • Gross return 8.71%
  • Gross income (monthly) $12,695
  • Operating expenses (monthly) $7,451
  • Net income (monthly) $5,244
  • Net return 3.60%

Property Income & Expenses

  • Income
  • Single Family
  • Unit 1: 2 bed / 2 bath $875/month $10,500/year
  • 5plex
  • Unit 21: 1 bed / 1 bath $610/month $7,320/year
  • Unit 22: 1 bed / 1 bath $640/month $7,680/year
  • Unit 23: 1 bed / 1 bath $610/month $7,320/year
  • Unit 24: 1 bed / 1 bath $0/month $0/year
  • Unit 25: 1 bed / 1 bath $620/month $7,440/year
  • Quadplex 1
  • Unit 26: 1 bed / 1 bath $610/month $7,320/year
  • Unit 27: 1 bed / 1 bath $580/month $6,960/year
  • Unit 28: 1 bed / 1 bath $580/month $6,960/year
  • Unit 29: 1 bed / 1 bath $0/month $0/year
  • Quadplex 2
  • Unit 26: 1 bed / 1 bath $0/month $0/year
  • Unit 27: 1 bed / 1 bath $0/month $0/year
  • Unit 28: 1 bed / 1 bath $0/month $0/year
  • Unit 29: 1 bed / 1 bath $0/month $0/year
  • Quadplex 3
  • Unit 26: 1 bed / 1 bath $580/month $6,960/year
  • Unit 27: 1 bed / 1 bath $0/month $0/year
  • Unit 28: 1 bed / 1 bath $0/month $0/year
  • Unit 29: 1 bed / 1 bath $580/month $6,960/year
  • Quadplex 4
  • Unit 26: 1 bed / 1 bath $0/month $0/year
  • Unit 27: 1 bed / 1 bath $0/month $0/year
  • Unit 28: 1 bed / 1 bath $0/month $0/year
  • Unit 29: 1 bed / 1 bath $580/month $6,960/year
  • Quadplex 5
  • Unit 26: 1 bed / 1 bath $580/month $6,960/year
  • Unit 27: 1 bed / 1 bath $0/month $0/year
  • Unit 28: 1 bed / 1 bath $580/month $6,960/year
  • Unit 29: 1 bed / 1 bath $580/month $6,960/year
  • Quadplex 6
  • Unit 26: 1 bed / 1 bath $610/month $7,320/year
  • Unit 27: 1 bed / 1 bath $580/month $6,960/year
  • Unit 28: 1 bed / 1 bath $0/month $0/year
  • Unit 29: 1 bed / 1 bath $580/month $6,960/year
  • Quadplex 7
  • Unit 26: 1 bed / 1 bath $580/month $6,960/year
  • Unit 27: 1 bed / 1 bath $0/month $0/year
  • Unit 28: 1 bed / 1 bath $580/month $6,960/year
  • Unit 29: 1 bed / 1 bath $0/month $0/year
  • Quadplex 8
  • Unit 26: 1 bed / 1 bath $0/month $0/year
  • Unit 27: 1 bed / 1 bath $580/month $6,960/year
  • Unit 28: 1 bed / 1 bath $580/month $6,960/year
  • Unit 29: 1 bed / 1 bath $0/month $0/year
  • Total $12,695/month $152,340/year
  • Expenses
  • Property Taxes $2,120/month $25,436/year
  • Insurance $1,667/month $20,000/year
  • Water bill $640/month $7,680/year
  • Waste Collection $150/month $1,800/year
  • Maintenance reserve $2,000/month $24,000/year
  • Electric bill $75/month $900/year
  • Property Management $800/month $9,600/year
  • Total $7,451/month $89,416/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

Q: Why is the property address and location information hidden?
A: This property is a premium property and is completely off-market. Full access is available to premium clients only. If you are not a premium client, we require to have an executed non-disclosure agreement on file in order to share the property details with you.

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