8 SINGLE FAMILY Residential home Bulk sale

8 SFR home Bulk sale in SWFL.  (southwest Florida)

Price  $1M 

For 8 SINGLE FAMILY homes, 100% rented to Buyers with LEASE OPTIONS!

One of the homes comps out at $250,000 to 300,000 in a gulf access community. 

Current NOI approximation $65,000 

All homes 100% rehabbed in 2010

SWFL  6.5 Cap rate in place with an 11.8% IRR over 10 year hold.

ROI 128%. or 8.6 % per year

NOI $65,000   to     Proforma of    $73k

Retail Market Value $1.4M 

Future value:

Total BTCF Income $ 730,000 in 10 years of Net  cash income

Selling    Price: 2,000,000  to 2,500,000       Year 10  Conservative
Selling Costs:       90,000          Broker fees/ commissions
Net Proceeds:   1,910,000 
Mortgage Balance: 0 

Before-tax Reversion: 1,910,000               
Taxes due on sale:          284,100
After-Tax reversionEq 1,625,900
Minus cost equity  -      1,030.000
sum                              =  $595,900 Profit sale if the asset sells 500ks more add 430k to this 1.25M
Plus Income              + 730,000 Profit Income
Total Profit                  1,325,910                     or        $1,755,000

ROI                                    128.7%
Annualized return             8.6% per year

confidential for principlas only. No Brokers REQUEST CONFIDENTIALITY AGREEMENT

Mike Rivera,
Investment Real Estate Analyst 
Naples Fl 

206-350-8675
MikeRivera  AT     Embarqmail.com
Mike Rivera, Ferrer & Associates

40 unit Multi family apartment complex / Bulk sale of Units

40 unit Multi family apartment complex 

• Price: $1,700,000
  Year built: 1987
• Pro Forma CAP Cap Rate: 8.
  Units: 40
• Square Footage: 29,000 sqft
  Price Per Foot: $58.62
• Price Per Unit: $42,500.00

Property Details:

The Apartments is located in Fort Myers, Florida spread across approximately 4.5 acres. The property was built in 1987. The unit mix consists of 40 two bedroom, one bath units with 725 square feet. All units have central heat and air. This asset provides an investor with a value-add opportunity. The current in-place rents are at the bottom of the market providing for the ability to increase rents after occupancy has been stabilized. The property is current operated by an out-of-state owner which makes it very difficult to effectively manage a deal of this size. In our opinion, once the property is stabilized, an investor can expect an increase in Net Operating Income in the short-run while realizing capital appreciation in the long-run. Core location convenient for the location, a close walk to Lowes, Wallmart, Denny's, 3 Gas Stations, burger king Sweetbay. 5 minutes to Ft Myers Beach 2 minutes to Lee memorial health system. excellent workforce housing location.

Southwest Fl Bulk sale waterfront sold at 80% of current value

Another Bulk sale down for waterfront sold at 80% of current value.
Prices up in swfl 25% since 1st 1/4 of 2010

Canadian Investment Group Lofton Island , LLLP has acquired 224 developer-owned units in the Oasis Tower II condo project from Oasis Associates, LLC. The purchase price for the 224 units was $36.7M ($163K/unit). Lofton Island plans to continue the leasing program in this tower.

Based on currentprices in River District high-rise projects, this average cost per unit of $163K is a bit closer to retail than I was anticipating for a bulk transaction at 80%. Shifting this block of 224 units out of unsold inventory and into a rental portfolio is a very positive event for the Fort Myers high-rise market. Buyers will have more comfort purchasing the remaining units in Oasis Tower I without the huge unsold inventory of Tower II hanging over the project like a black cloud.

Downtown ft myers has an influx of new residents, new nightclub, National retailers, near downtown this could all be good for the entire community, the new publix and new construction start of townhomes at the publix plaza at high point High rise.

Bulk sales available


Waterfront
415 Unit High Rise 24 story Riverfront Hotel Dark at Yaht Club needs 10/15M in renovations.
( prime location like Oasis. Reposition opportunity to acquisition 500,000 sq ft of riverfront high assets.1 full city block of land hard corner at the bridge. Im direct to owner and they are motivated to sell this asset.
21 Unit High Rise Ocean view Class AAA


Prime Stable:

Olde Naples(port Royal sub market) High affluent market Units
10 New construction never lived in units, Market rate 305 perm sw ft, purchase 207 a sq ft.


Class B

68 unit available In Naples Fl as well. 60,000 per unit Conversion all 100% owned..
55 Unit off davis blvd In Naples fl Broken conversion.

320 unit Class B apts Naples, Fl (listed by other broker)


a quick note

always looks bigger going than coming.

For many procrastinating real estate buyers Bye, bye! The above proves this ponit.

Let em update you with my real estate appraiser hat.

1. The bottom of the market was reached sometime in end of 2009 1st 1/2 2010.

2. If you would have purchased a condo or a town home in Estero 6 months ago you would have a 30k to 50k equity position in your property today this is almost across the board in 33928.

3. If you would have purchased the same type of highly distressed product in Olde Naples by end of 2009 thru summer of 2010. You would have close to a 45 dollar per sq ft equity yield on your holding. x the sq ft of your acquisition.

I love been a real estate appraiser and Broker it is with this knowledge that i track sub markets in SWFL as they decline or appreciate. and real estate is truly valued up or down by mere neighborhood characteristics, in small pockets or puds only. Nonetheless it is good news for you sellers out there.

Buyers get off of the wall, its time to dance and Im playing your song..... and BTW the song is 1/2 way over.

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

Thanks,

Mike Rivera,
Investment Real Estate Analyst
Star Capital Group
Naples Fl
954-957-3134 Office
239-770-6257 Cell
239-775-2066 Fax

92-unit Palms Bulk Sale condominium Transaction Southwest Florida

Colliers International Tampa Bay on there web site announced the closing of an 82-unit bulk condominium transaction in North Fort Myers.

It was a remaining 82 lender-owned units out of 92-units at The Palms at Waters Edge condominium. The assets were acquired by a Naples based LLC for a purchase price of $4.3 million.

Colliers International Tampa Bay worked exclusively on behalf of the owner, Redus Florida Condos, LLC (Wachovia Bank), to facilitate the sale.

The property originally sold 2005 for $9.2 million. Palms at Waters Edge was built in 1974 and was substantially renovated in 2006-2007 for the purposes of conversion to condominiums.

If you are looking for a New construction Builder Close out, Broker Representation at an auction or listing feasibility analysis and a quick sale offer of your unsold product Bulk condo or Multifamily apartments. We have buyers in Canada, UK, and US Hedge funds, waiting for South West Flroda Distressed assets.

Please call Mike Rivera, CIB, ABR

Investment Real Estate Analyst
Star Capital Group
Naples Fl

954-957-3134 Office
239-775-2066 Fax
Mike Rivera, Ferrer & Associates,LLC