31 unit Cape Coral, FL & big concerns for every prospective bulk sale purchaser

Note three big concerns for every prospective bulk sale purchaser should consider in a bulk sale: (1) status of construction and unit sales, (2) all current comps, (3) ILSA compliance, (4) title issues, (5) HOA liens and the understanding of the bulk assignees law and how to draft the legal documents under that law.

ILSA compliance, and the new Bulk assignees law & required documents is something i will look into with Mark Adamczyk of Goede & Adamczyk, PLLC Mark Adamczyk www.flcommunitylaw.com on the next blog.

In the meantime please take a look at another Southwest Florida Multi family apartment Investment and a bank held 100,000 sq ft office and retail space in Naples Fl off the Toll Booth Exit on i-75. see below.

Now available a 31 unit, 1967 built apartment community, located in Cape Coral, FL.

The Apartments consist of 3 buildings. The 2 two‐story concrete block
and stucco buildings offer studios (29%), one (65%) and two (6%) bedroom floor
plans with an average unit size of 570 square feet.

The 2 two bedroom units are in a duplex that was built in 1980 on the property. The common amenities include a sparkling pool and a barbecue area. The buildings have pitched roofs, covered with shingles and is situated on .92 Acres+/‐ of land.

The Apartments is a clear value‐add opportunity. A new
operator will have to make a strong marketing push, combined with
sound management, to increase occupancy, thus generating a higher net
operating income. With overall market stabilization, there is room for a
profitable exit strategy when the market is fully stabilized.

NOI Range $48,000 to $66,000 based on annualized current income.

Naples Flex space. ........................................................................................................................


3 buildings.
Has income in place but non performing and construction leins.

28,000 sq ft 70% occupied
54,410 sq ft 20% occupied
15,000 20% occupied

93,000 sq ft

Comps on units closed in 2010 ranged 95 to 155 per sq ft.

Contact Mike Rivera for more information on the above assets. or other Naples fl condo bulk sales.
239-770-6257

NCND required and proof of funds from all potential purchasers.