77- 340 Units bank owned property in northern Florida
The bank has just released a 340 unit property in the northern part of Florida to USA Lending and Realty. The deal has a price of $11,000 per door, and it has a 86% occupancy (this is a steal). If that sounds great, than this will blow every investors mind away. The property is a class B property and is located on a B class area as well. the bank wants offer on this property, and by the looks of it any offer close to that will do.
There is a lot of great schools, restaurants, and shopping centers that are available throughout the area. The crime rate is not too high, and the property is about 20-30 mins away from the ocean. A decent amount of tourists also come around for the big concerts that are ususally present around that area. The property got the units remodeled about 6 years ago, and the property was built back in 1967 with a great vision in mind. The elevators have also been well kept, and are being remodeled as we speak.
The units have their own most important equipments for a must have household materials. For example, kitchen cabinents, a stove, an oven, refrigirator, and all of the bathrooms equipments. The units are split as follow: 80 units 1/1 800 Sq Ft, 120 units 2/2 1,200 Sq Ft, 100 units 3/2 1,450 Sq Ft, and of course 40 units 4/3 1 with 1,650 Sq Ft. The NOI is great, but if you would like to find out the exact amount, than just give UR-COUSIN Emile Farah from USA Lending and Realty a call for more information. 305-754-1000 or 305-967-7200. We also have many more properties available and can be found by clicking the links below.
SOLD AS OF JUNE 2010
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