Category: Owner Financing

Huge Price Drop – Commercial Property Investment

HUGE price drop on this off-market deal in Jacksonville– Need to sell it fast!

Buy it now at a 12% CAP and start collecting cash flow immediately, make some cosmetic improvements, increase rents and hold or sell it at about 8% cap for a nice profit!

Cash offers only please.

DESCRIPTION:
24 units, 2 two-story buildings on East side of Jacksonville (a B location)
Solid CBS construction with flat shingle roof
Below market rents
All units are 1 bed, 1 bath.
95% occupancy
Guaranteed Income via HUD-VASH Program for most tenants
Laundry room additional income
Units independently metered
Located in desirable South Riverside area near desirable San Marco area in Jacksonville, FL Needs TLC

Property Type: Multifamily
Property Sub-type: Garden/Low-Rise
No. of Buildings: 2
No. of Stories: 2
Year Built : 1964
Building Size: 17,575 SF
Construction: CBS

Unit Mix
One-bedroom, One bath: 24 Units
Occupancy: 95%

Actual NOI: $86,952

NEW Purchase Price: $725,000 NET (was $760,000)
Low Price per Unit: $30,208
Cap Rate: 12%

TERMS:

Must be ready to close Fast!
Cash Offers only
10% Earnest money
7 day inspection period max.
Possible Seller Financing
____________________________________________________________

For more information:

Mike Cathell,
Broker/Owner, Investment Property Consultant

Real Estate Services of SWFL, LLC
Real Estate Services of Citrus County, LLC

Cell:  (239) 770-6250   Fax:  (239) 288-2505
Email:  InvestSWFL@gmail.com
 

 

#Commercial Property  #Commercial Property Investment  #Multifamily Investment

#Multi-family investment  #income producing property

Lease to Own Instead of Renting

 

Renters and Home Owners are always working towards paying off a mortgage.  The difference?  Owners are paying their own mortgage and Renters are paying the Owner’s mortgage also.  Years ago, a friend of mine told me that paying rent was like throwing your money down a black hole.

If you are tired of throwing money down “that black hole”, we have a unique plan to turn renters to house owners.  Our Neighbors Healing Neighborhoods program works with Investors that want renters to experience the dream of home ownership for the first time or again if the victim of the past economy.

The program is fairly simple:wishing_stones_in_front_of_a_model_house

  1. Make an appointment to talk with one of our agents to discuss where you want to live, what type of house interests you and what your five year plan is to get your “Dream” Home.
  2. Next, our agents work with you to establish what you can afford now.
  3. This step requires a bit of time doing research with our agents. Drive the neighborhoods to look for the house that is affordable and comes closest to the features you would like in your house.
  4. Once the right house is found, our negotiators and Investors go to work to get the best price for the house. If everything meets our Investors parameters, they purchase the house and do the rehab.
  5. With a low down payment, the family can move into the house as renters.  The downpayment is kept in an account to be used as part of the down payment.
  6. Part of the monthly rental will also go into the account to be added to the down payment amount.
  7. The tenant will sign a purchase agreement for the house to be closed in 12 or 24 months, whichever works best for all parties.

This program has been designed with two goals in mind.  First we want to help displaced home owners and new buyers to experience the American dream of home ownership.  The second goal is to rebuild the neighborhoods in SW Florida.  It’s a win-win-win scenario for the future homeowner, the Investor and the neighborhood!

 

Mike Cathell,
Broker/Owner, Investment Property ConsultantJ
Real Estate Services of SWFL, LLC

Email:  InvestSWFL@gmail.com