Multi-Family•High-Rise•For Sale

CAMDEN CORNERS BUILDING 8 FOR SALE!

2010, 2006, 2002, 1998, 1990, 1986 Tyson Green Ave, Tallahassee, Florida 32301

Sale Price $1,085,000
Zoning OR2
Bldg Type Multi-Tenant
Status Under construction
Year Built 2020
Year Renovated 2020
Stories 2
Vacancy 100%
Gross Bldg 7,000 SqFt
RBA 9,114 SqFt
Land Area .1 Acres
Project Size 7
Land Use IN
Market TALLAHASSEE
Sub-Market DOWNTONW TALLAHASSEE
BUILDING #8 OF THE CAMDEN CORNERS DEVELOPMENT CONSISTS OF 7 BRAND-NEW THREE BEDROOM/THREE BATHROOM CONDOMINIUMS LOCATED IN THE HEART OF TALLAHASSEE, FL! THIS BRAND NEW DEVELOPMENT IS THE PERFECT INVESTMENT OPPORTUNITY FOR A BUYER LOOKING TO ACQUIRE A 7-UNIT BUILDING IN THE STATE CAPITAL THAT WILL STAY RENTED ALL YEAR LONG! THE BUILDING RESIDES IN THE HEART OF CAMDEN CORNERS, A BRAND-NEW DEVELOPMENT, BUILT PROGRESSIVELY THROUGHOUT THE PAST 24 MONTHS. EACH UNIT HAS BEEN CAREFULLY CRAFTED TO INCLUDE THE FINEST FINISHES AND TOP NOTCH AMENITIES! THIS AMAZING OPPORTUNITY ALSO PROVIDES RETURNS THAT MATCH IT'S ELABORATE INTERIORS! BUILDING #8 AT CAMDEN CORNERS BOASTS AN IN-PLACE CASH-ON-CASH RETURN OF OVER 13%. BASED ON THE CURRENT MARKET RENTAL RATES, A BUYER CAN EASILY OBTAIN A CAP RATE OF ALMOST 10% AND A CASH-ON-CASH RETURN OF OVER 17% BY 2021. TO ADD TO THIS INCREDIBLE OPPORTUNITY, THE SELLER IS WILLING TO OFFER GENEROUS SELLER FINANCING TERMS THAT WILL HELP INCREASE THE BUYERS RETURN IMMEDIATELY! CURRENTLY, A 3-BEDROOM/3-BATHROOM CONDO IS ALMOST IMPOSSIBLE TO FIND IN TALLAHASSEE AND THERE IS GREAT DEMAND FOR THIS, TYPE OF UNIT. THE RESULTS CLEARLY SHOW THIS AS ALL 6 OF THE BUILDINGS THAT HAVE ALREADY BEEN COMPLETED ARE NOW SOLD OUT. MOST OF THESE UNITS WERE RENTED OR OUTRIGHT SOLD, EVEN BEFORE CONSTRUCTION WAS COMPLETE. THE ABILITY TO MAKET THE PROPERTY FOR RENT EVEN BEFORE CONSTRUCTION IS COMPLETE IS A HUGE ADVANTAGE FOR A POTENTIAL BUYER THAT CAN LIMIT THEIR RISK BEFORE THE BUILDING IS COMPLETE! THE BEST PART ABOUT THIS AMAZING INVESTMENT OPPORTUNITY IS THAT ALL OF THE UNITS ARE PART OF A HOMEOWNER'S ASSOCIATION. THE HOA HAS A SET MONTHLY COST OF $115 PER UNIT, OR $9,660 TOTAL FOR THE ENTIRE BUILDING ANNUALLY. IN EXCHANGE FOR THE MONTHLY FEE, THE HOA COVERS ALL REPAIRS TO THE EXTERIOR OF THE BUILDING, INCLUDING BUT NOT LIMITED TO, GARBAGE, LAWN, LANDSCAPING, PLUMBING, INSURANCE, MANAGEMENT AND CAM CHARGES, ALL EXTERIOR BUILDING MAINTENANCE, ROOF REPAIRS, AND ALL HVAC UNITS AT THE PROPERTY. PAYING A SET MONTHLY HOA FEE OF $115 PER MONTH WILL LIMIT FUTURE EXPENSES AS ALMOST ALL THE REPAIR AND MAINTENANCE EXPENSE WILL COME FROM THIS MONTHLY FEE. THIS CAN HELP THE BUYER LIMIT THE AMOUNT OF POTENTIAL FUTURE REPAIRS INCLUDING MAJOR REPAIRS ON THE ROOF AND HVAC SYSTEMS! BUILDING AMENITIES INCLUDE BUT ARE NOT LIMITED TOO; FULL KITCHEN APPLIANCE PACKAGE, LAWN SERVICE INCLUDED (HOA), FULLY OPERATING HOA ON-SITE, PETS ALLOWED, SECURITY SYSTEM, BRAND NEW HVAC SYSTEM, NEW ROOF, WASHER/DRYER IN EACH UNIT. THE INTERIOR OF THESE UNITS CONSISTS OF 1 MASTER BATHROOM, AN ISLAND KITCHEN, LIVING AREA, 2 UPSTAIRS BEDROOMS, 3 TOTAL BATHROOMS, DESIGNER FINISHES, AND WOOD-LAMINATE FLOORING THROUGHOUT! THIS IS A UNIQUE OPPORTUNITY TO OWN A BRAND NEW INVESTMENT PROPERTY WITH LIMITED CAPEX MOVING FORWARD AND STRONG RETURNS. THIS WILL NOT BE AVAILABLE FOR MUCH LONGER. PLEASE CONTACT US IMMEDIATELY IF YOU ARE INTERESTED! THE PROPERTY IS LOCATED DIRECTLY ACROSS FROM THE FSU SPORTSPLEX, RIGHT AROUND THE CORNER FROM INNOVATION PARK AND THE FAMOUS NICKLAUS GOLF COURSE.
  • BRAND NEW DEVELOPMENT IN THE HEART OF TALLAHASSEE, FL!
  • AMAZING SELLER FINANCING TERM AVAILABLE!
  • APPROXIMATE SELLER FINANCING TERMS:
  • 30% DOWN!
  • 5.5% FIXED IR!
  • INTEREST ONLY PAYMENTS!
  • 3-YEAR BALLOON!
  • 13% CASH-ON-CASH RETURN IN-PLACE!
  • 17%+ CASH-ON-CASH RETURN BY 2021!
  • EACH UNIT HAS BEEN CAREFULLY CRAFTED TO INCLUDE THE FINEST FINISHES AND TOP NOTCH AMENITIES!
  • HOA ON-SITE, WHICH COVERS ALMOST ALL OPERATING EXPENSES!
  • HIGH DEMAND AS ALMOST ALL OF THE OTHER UNITS ALREADY CONSTRUCTED WERE SOLD BEFORE THE CONSTRUCTION WAS FINISHED!
2/19/2020 4:07:34 PM 3/23/2020 3:18:20 PM
David Rosenthal
Associate
Grimaldi Commercial Realty Corp
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