Multi-Family•Low-Rise/Garden•For Sale

100475 . 10 Home BFR Port Charlotte FL

100475 . 10 Home BFR Port Charlotte FL, Port Charlotte, Florida 33954

Sale Price $2,071,300
Year Built 2020
Gross Bldg 15,686 SqFt
Land Area 2.3 Acres
Project Size 10
Market Charlotte County FL
Sub-Market Port Charlotte FL
This Build-for-Rent portfolio consists of 10 homes on scattered lots throughout Port Charlotte, FL. Port Charlotte is located about halfway between Sarasota and Fort Myers along the beautiful Gulf Coast and home to the spring training facility for the Tampa Bay Rays. The homes are currently beginning construction and ready to be picked up by the takeout buyer. Although the lots are scattered, they remain relatively central, providing easy and efficient property management to cut down on expenses. The two floor plans being constructed are a mix of 3 and 4 bedrooms, and projected to achieve an average rent of $1.07 per square foot. The builder is also providing the optional opportunity to make the homes net-zero for an additional cost. The builder is actively involved and experienced with Build-for-Rent, having optimized a handful of floor plans specifically to achieve increased rents. They have the ability to work and scale with an investor to develop these purpose-built communities in many Florida markets. Alternative floorplans are available for future homes with EcoSun Homes. The city of Port Charlotte is an unincorporated community in the Charlotte county area with a vibrant nightlife and multiple recognitions for being one of the best places for retirees. The area is mainly residential and agricultural as it is in proximity to Florida’s Gulf Coast; each year bringing in a substantial percentage of new retirees and winter residents. Forbes recently named Port Charlotte one of top “25 Best Places to Retire”. The area has an estimated population of 64,815 and is continuously advancing. Port Charlotte has a melting pot workforce with both white- and blue-collar jobs, with 13.92% work in sales jobs, 13.55% work in office and administrative support, and 7.64% of people work in management occupations. 19.04% of residents in the city have earned a bachelor’s degree or higher. Just over the last year, Port Charlotte experienced an astounding growth in the job market by over 1.9% and has an estimated growth of 38.9% in the next 10 years. The average household income in 2018 for Port Charlotte was $64,461 and is projected to increase to $77,203 within the next five years. Recently, there have been incredible development opportunities proposed to the Port Charlotte area. One of the recent development opportunities is the Lost Lagoon, estimated to draw visitors from all around the country. This water, power and telecommunications infrastructure will enhance the productivity with cost-effective advantages designated for the Foreign Trade Zone. In addition, Lely Development Corporation has recently acquired 50 acres designated for just retail and hotels, all creating an employment buzz and economic development that will propel Port Charlotte towards one of the greatest areas in southwest Florida.
  • Opportunity to build the homes net-zero (not standard)
  • Builder active in the Build-for-Rent market
  • Floor plans optimized to achieve top rents
  • Homes breaking ground and to be completely in 2020
  • Finish levels already investor-ready but can be further refined to specific criteria
  • Builder can help an investor scale and schedule capital deployment in multiple markets within Florida, either with scattered lot homes or self-contained communities
  • Alternative investor designed homes for future projects
  • Durable and high-quality finishes such as granite countertops vinyl plank flooring
12/2/2019 9:39:16 PM 12/30/2019 4:24:30 PM
Jeff Cline
Managing Director | Principal
SVN | SFRhub Advisors
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