Value Add Apartment Building

Value Add Apartment Building

15 bed 12 bath 6000 sq ft Built in 1970 Multi-family
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66
Occupancy Status
Low High
10 /20
Level of Rehab
Heavy Light
15/20
Location of Neighborhood
Far Close
15/20
Quality of Floor Plan
Choppy Flowing
13/20
School Rating
F A
5/10
Placement in Neighborhood
Busy Calm
8/10
Property Details

A rare, off-market waterfront apartment community is now available in West-Central Florida. This extensively renovated, multi-unit property has already seen major capital improvements throughout, including all-new electrical, plumbing, HVAC, and septic systems, plus fully updated interiors — leaving a new owner with a largely turnkey asset and immediate upside. Most units are small one-bedroom/efficiency style, ideal for both weekly and monthly tenants. There are a couple of larger two-bedroom units, perfect for long-term tenancy. All units are currently vacant. 

With the previous owner looking to cash out quickly, this is priced to sell — their loss could be your gain. Based on current pro-forma projections, this opportunity offers an attractive 13% cap rate, well above typical multifamily returns in the region.

Pro forma financials, unit details, and property location are available to qualified, serious buyers upon execution of a Non-Circumvention and Non-Disclosure Agreement (NCND). Contact your EquityPro advisor today to request access.

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We recommend rent
Rental Income
$13,350 mo. / $160,200 yr.
Estimated Taxes
$8,500 / yr.
Property Management
$10,500 / yr.
Maintenance
$18,000 / yr.
HOA Dues
$0 / yr.
$114,700
Projected Income
13.30%
Estimated APY
$437,500
Projected Income
47.95%
Estimated ROI

Comps

 
Listed
 
Pending
 
Sold

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