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Member Post – Florida Multi Units – SOLD

Multi-Family Wholesale Properties

1) 2825 CENTRAL AVE., FT MYERS, FL 33901
184 bedrooms / 92 baths / Block / 82,800 sq. ft.
Each unit is 2 Bedroom / 1 Bath with 900 sqft. 4 stories -
92 Unit Apartment – Owner financing in place with 25% down. Each are 2/1 900 S.F. Block, 4 stories and in great shape with 41 units under a HUD agreement or section 8. The current rates for section 8 are $735.00 a month starting in June of 09. Currently the rate was locked in from the previous owner at $520 a unit, that expires in June of 09. I will have an updated rent role and cash flow by first of the next week. I have somebody in place to show the units with 24-48 hour notice. Please call with any questions
Asking: 2.75m that’s under 30k per door

2) Tampa 33612
$36,923/avg. unit
Asking price: 4.8m
Recent Appraisal 6.8m
Proforma NOI (after reserves): 463,303
Total No. of bldgs: 10
Total No. of units: 130
Net Rentable Area (sq ft): 85,624
Average Unit Size (sq ft): 659
Year Built: 1965
Total Land Area: 6.5 acres
Construction: Concrete Block

Only 2 miles from the University of S. FL, one of the largest academic institutions in the nation

Less than 2 mile from Sterling Lakes

Open floor plans with walk-in closets

Population w/in a 5 mile radius of the property is projected to reach over 200k in next 5 years

3) Orlando 32808
$37,109/avg.unit
Asking price: 9.5m
256 Units
Building Size: 284,446 SF
Occupancy 100%
Year Built: 1974
Property Description: Property consists of a total of 32 Concrete Block Bldgs on 19 acres. HUD contract thru 2022, guaranteed rents, 6 mth wait to get in. Great money maker. Lots of land, including playgrounds to enjoy.
1-Office and Childrens center Bldg, 1-Maint. Bldg, 2-Laundry bldgs and 28 bldgs with 256 units. 160-3 Bed 1040 Sq.ft. And 96-2 Bed 782 Sq.ft.
Turn Key Operation, Easy to maintain, Recent HUD REAC Inspection scored 95 Gated Community, Lots of Play areas and Parking. Waiting List, All units cable ready, central HVAC, indiv. electric meters, Newer Pitched roofs.
100% HUD Subsidized sec 8 project based.
HAP PAYMENT UNTIL 2022 Rent increased annually.
After School and Summer Program.
Location Description: THE HEART OF ORLANDO FLORIDA, CLOSE TO DISNEY WORLD AND DOWNTOWN. Walking distance to major shopping, schools and churches. Bus stop in front of bldg. Near highways US 50, 408 and I-4.

4) Tampa 33613
$45,454/avg. unit
Asking price: 8m
Recent Appraisal: 10.3m
Proforma NOI (after reserves): 854,624
Total No. of bldgs: 11
Total No. of units: 176
Net Rentable Area (sq ft): 159,304
Average Unit Size (sq ft): 905
Year Built: 1984
Total Land Area: 12 acres
Construction: Wood Frame

PURCHASE PROCEDURES:

-Please do drive by first
-Call for access
-Please do not disturb tenants
-Properties require a 1k deposit
-All prices are net to seller

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