60-unit apartment complex in Sarasota, FL for sale!

Investment Highlights
  • New roofs installed at 2049 & 2095 Hillview in 2015; 2059 Hillview in 2014; 2050 & 2067 Hillview in 2010
  • Most units have new windows and doors; over half of the units have new cabinets, A/C units and upgraded bathrooms (per ownership)
  • 5 units have been finished with premium materials including granite counters and new cabinetry and are being rented at $1,100 per month
  • Over 75% of all in-place leases @ or below $875/mo.
  • All new leases or renewals being performed @ $950/mo or greater- A minimum 8% yr-over-yr increase
  • Due to the quality of location & tenant market, the asset can potentially realize substantial performance increases w/ reasonable capital improvements Sarasota Memorial Hospital is one of Sarasota’s largest employers

 

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Offering Details

Total Building Size: 43,048 RSF +/-

Total Land Size: 92,420 SF +/-

Sales Price: $5.795 Million

Cap Rate: 7.0 %

Hillview: 46 Units and Chez Ami: 14 Units

Historically stable – strong rental history, occupancy near 100%

Can be purchased as portfolio with a 26-unit and a 25-unit, totalling 111-unitshase

Financial data available with Confidentiality Agreement

 

Print and complete the CA below and return to our office for the OM

hillview-chez-ami-apts-confidential-sale-flyer

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