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Riverside Portfolio

Riverside Portfolio

Price: $ 3,850,000

Total Number of Units: 32

Address: 2303 College St, Jacksonville, FL 32204, USA

  • Opportunity to increase rents on renewal by $50-$100/unit to meet the market
  • 100% occupied for the last 3 years with a waiting list
  • 11 of the 12 buildings are less than ½ a mile from each other for ease of management
  • Retiring owner is offering negotiable seller financing with a 30-year amortization, 3-10 year term with potential interest only period possible to increase buyers day one cash flow

Lead Agent(s): Ryan B. Tomka

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Hilton House Apartments

Hilton House Apartments

Price: $ 1,800,000

Total Number of Units: 32

Address: 3079 Cleveland Avenue, Fort Myers, FL, USA

  • Thirty-two unit multifamily asset constructed of concrete block and wood frame
  • Well-positioned asset (1.22 Acres) situated directly on Cleveland Avenue (US-41) – 54,000 AADT
  • Seller has recently renovated the exterior and partially renovated the interiors of the asset
  • Significant value-add opportunity through loss-to-lease recapture and the installation of individual water meters
  • Ability to increase Net Operating Income by approximately $89,000 by end of year one

Lead Agent(s): Benjamin N. Skinner

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Alliance at 400

Alliance at 400

Price: $ 4,832,000

Total Number of Units: 80 Units / 320 Beds

Address: 400 Putnam Dr, Tallahassee, FL, USA

  • Highly desirable purpose-built student housing asset built in 2003
  • Located just 0.2 miles from Florida A&M University’s campus
  • Below market rents allows new buyer to increase market rents to $369/bed
  • Opportunity to achieve a Cash-on-Cash Return north of 20.07% in year zero

Lead Agent(s): Benjamin N. Skinner and Matthew W. Prozzillo

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4th Place Apartments

4th Place Apartments

Price: $ 1,600,000

Total Number of Units: 32

Address: 6735 Southwest 4th Place, Gainesville, FL, United States

  • Select units have been beautifully renovated in 2017/2018 with vinyl wood flooring, new kitchen cabinetry, washer/dryer appliances, new appliances, new lighting, and new bathroom vanities
  • Opportunity to continue renovations and capitalize on significant rental upside approximately $90+ higher than average effective rents
  • Highly desirable 1980s vintage asset comprised of concrete block construction with amenities such as washer/dryer appliances and private patios

Lead Agent(s): Matthew W. Prozzillo

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Tampa Bay Portfolio

Tampa Bay Portfolio

Price: $ 1,250,000

Total Number of Units: 21

Address: 1105 East Bird Street, Tampa, FL, USA

  • Impeccably built concrete block buildings
  • Fully stabilized portfolio with an immediate path to rental upside
  • 100% fully occupied community with a waiting list
  • Washer/dryer connections in select units
  • Value add opportunity by increasing rents $100+/unit
  • All units are individually metered for water

Lead Agent(s): Joshua Teplitzky

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Avesta Heritage Cove Apartments

Avesta Heritage Cove Apartments

Price: $ Market Bid

Total Number of Units: 90

Address: 7402 Heritage Hills Drive, Temple Terrace, FL 33637, USA

  • Rare opportunity to own 90 units of 1980s concrete block construction in Tampa, FL
  • 96% average current occupancy level of all comparable properties
  • Opportunity to supply washer/dryer appliances and receive $40 monthly rental premium
  • Opportunity to increase NOI by $105,169 through strategic management adjustments and by moving rents up to meet the market
  • Clean asset with recent capital improvements including the addition of a front entrance gate, revitalized exterior paint, expansion of pool deck, two new roofs, and reinforced staircases
  • Minimal repair and maintenance outlook for next 5 years with recent exterior updates and unit finishes
  • $109,551 increase in effective gross income by end of year 1 operations
  • Significant rental spread between Avesta Heritage Cove and competing properties

Lead Agent(s): Joshua D. Teplitzky

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San Juan Apartments

San Juan Apartments

Price: $ 720,000

Total Number of Units: 4

Address:

  • Five-minute bike ride to the beautiful Bayshore Boulevard
  • Located in Tampa’s urban core within close proximity to multiple redevelopments such as bill gates, Jeff Vinik, and Tampa port authority’s $3 billion downtown/water street redevelopment, the heights redevelopment, west river redevelopment, Tampa international airport’s $1 billion renovation, Westshore marina district and more
  • Close proximity to 90+ bars, restaurants, and retail destinations
  • Located within a 10-minute drive time of 159,000 jobs within downtown Tampa and Westshore business district

Lead Agent(s): Matthew W. Prozzillo

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KAIN Commons

KAIN Commons

Price: $ 850,000

Total Number of Units: 10

Address: 1506 East 138th Avenue, Tampa, FL, USA

  • Superior unit mix of all three-bedroom floor plans
  • Washer/dryer connections in every unit
  • 100% fully occupied community
  • Ample off-street parking

Lead Agent(s): Cameron S. Barbas

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KAIN Palms

KAIN Palms

Price: $ Market Bid

Total Number of Units: 72

Address: 13021 Kain Palms Court, Tampa, FL 33612, USA

  • 67% 2007 construction
  • 83% two and three-bedroom floor plans
  • 12 townhouse style units
  • 1,117 average rentable square feet
  • Washer/dryer connections in all two and three-bedroom floor plans

Lead Agent(s): Cameron S. Barbas

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KAIN Quads

KAIN Quads

Price: $ 960,000

Total Number of Units: 12

Address: 11302 North 15th Street, Tampa, FL, 33612

  • Superior unit mix of all two-bedroom floor plans with w/d connections
  • Concrete block construction
  • Fully occupied community
  • Stabilized income with value-add opportunity to increase EGI 11%+
  • Ample off-street parking

Lead Agent(s): Cameron S. Barbas

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Sandalwood Beachfront Rentals

Sandalwood Beachfront Rentals

Price: $ Market Bid

Total Number of Units: 47

Address: 17100 Gulf Boulevard, North Redington Beach, FL 33708, United States

  • Unrivaled 122 Feet of Beachfront Location Directly on North Redington Beach 47 Condominium Units (100% of Community)
  • Potential to be the Only Sizeable Beachfront Multifamily Property in Tampa Bay Diverse Variety of Exit Strategies Including Multifamly, Hospitality, Condominium and Redevelopment
  • Gulf-Views from 72% of Units Only 3.3 Miles Away from World Famous John’s Pass Village and Boardwalk

Lead Agent(s): Michael P. Regan

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Stella Apartments

Stella Apartments

Price: $ 1,030,000

Total Number of Units: 14

Address: 2452 Stella Street, Fort Myers, FL 33901, United States

  • Optimal Unit Mix Consisting of 100% Two-Bedroom Floorplans
  • Heavily Renovated Interiors With a New Roof In 2017
  • Current Average Effective Rents are 17% Below Immediately Achievable Pro Forma Rents
  • Opportunity to Realize a 10.05% Cap Rate in Year One of Ownership
  • Ability to Recapture 103.24% of Initial Equity (Down Payment) Within Four Years

Lead Agent(s):

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Pine Key Resort

Pine Key Resort

Price: $ Market Bid

Total Number of Units: 42

Address: 1095 Hancock Creek South Boulevard, Cape Coral, FL 33909, United States

  • Approximately $40,000/Unit of Development Costs Already In-Place
  • 42 Existing and 56 Fully Approved and Entitled Developable Condominium Grade Class-A Units
  • Implement Strategic Remodeling of the Existing 42 Units (12% Rent Increase)
  • Recapture 6.38% In-Place Loss-to-Lease Resulting in a $40,200 Addition to Revenue
  • Ability to Realize a Stabilized All-In Cap Rate Above of 8% and a Year Five IRR Above 40%
  • Realize a Post Development NOI Increase of 223%

Lead Agent(s): Benjamin N. Skinner

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Anderson House

Anderson House

Price: $ 1,200,000

Total Number of Units: 19

Address: 424 2nd Street North, St. Petersburg, FL, United States

  • Irreplaceable Historic Building Constructed in the Early Twentieth Century
  • Renovated in 2014 with Interior and Exterior Paint, Lush Landscaping and New Roofs in 2015

Lead Agent(s):

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