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Off-Market$3.13M spread
1 photoSarasota County · Sarasota, FL 34234
Sarasota Manatee 56 Unit Portfolio 10 Cap Value Add Opportunity! Seller Finance Available
$5,865,000
$3.13M spread
About this property
Sarasota Manatee 56 Unit Portfolio 10 Cap Value Add Opportunity!
Deal Specs
- 56 Units - SFH x24, Quadplex x2, Duplex x8, Manufactured x7, Condo x1
- Condos + Manafactured can be sold separately
- Location: Sarasota + Bradenton
Financials
- Purchase Price: $6,175,000
- Unit Count: 56
- Price / Unit: $110,714
- Current Gross Rent: $838,800
- GRM (Gross Rent Multiplier): 7.73
- Current NOI: $727,624
- Normalized NOI: $593,416
- Cap Rate (Seller financials): 11.21%
- Current Cap (normalized): 9.14%
- Proforma Cap: 10-12%
Investment Highlights
- 56-unit Sarasota & Manatee portfolio, strong value add potential
- Strong in-place income with 9.14% normalized cap
- Proforma 10-12% cap potential
- Average rents below market with 10-20% upside
- ~$110k per unit (below replacement cost)
Financing
- Cash/Hard money preferred. Lender available has already reviewed deal and approved financing terms
- Seller financing available to credible buyer (20-25% down, 3-5 year term)
- POF/NDA required for full information/access to properties
Property snapshot
Layout56 Bed / 56 Bath
Living area644 sq ft
Year built1959
Property typeMulti-Family
CountySarasota County
Deal details
Asking price$5,865,000
ARV estimate$9,000,000
Spread (ARV − asking)$3,135,000
Brought to you by
M
Ms. Meriam Aberri
Miami Off-Market Deals
+1 (305) 762-9521office.royal.investments@gmail.com1 Alhambra Plaza, Penthouse Floor, Coral Gables, FL 33134
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