28 UNITS Bulk condo sale

4 APARTMENT CONDO BUILDINGS TOTALING 28 UNITS IN CAPE CORAL. 18 INDIVIDUAL BUILT AS CONDOS IN 2006 AND 10 UNITS UNDER 1 STRAP . Lennar Home condo style designs in 4 separate bldgs 3 with 6 units and 1 with 10

Buildings built in 2006 and 2007.  Current  GROSS income is right at $198,660 with the 3 vacant units. NET INCOME IS GUESSTIMATED AT 130K .  Buildings are in as good a condition Totals 56 bedrooms and 46 bathrooms.  All tenants pay there own utilities.  Vacant Units need nothing.  All appliances and washer and dryer are there.  Leases are all in place with deposits on occupied units.  Deposits vary per unit.  All units have all tile except 2 units.  Very low upkeep to maintain current condition.  Expenses available upon request.   Very rare opportunity to buy TURN KEY Bulk condos income assets less than 5 and 6 years old.

ASSESSMENTS ARE ALL IN AND PAID ON ALL 4 BUILDINGS

ask for confidentiality agreement. Or leave message at 206-350-8675

Mike Rivera at Embarqmail. com

Mike Rivera, Ferrer & Associates 

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

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.