Listing was updated at: 12/10/2019
Property Overview
Price/Rent PSF $ 5,728,000.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 36,100
Date Available 12/10/2019
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Florida is well known for its business-friendly environment, offering low corporate income tax rates and no personal income tax, continuously ranking Florida as one of the top states to do business. The city of Port Charlotte is an unincorporated community in Charlotte County and is mainly agricultural and residential area. Both towns, Punta Gorda and Port Charlotte are located at the head of Charlotte Bay along Florida's Gulf Coast. Both cities are relatively quiet and residential with a substantial percentage of retirees and winter residents. The zone on the Gulf of Mexico from Venice to Port Charlotte is world famous for its fishing, beaches and beautiful climate. Now it is also one of the best places in the US to find profitable land and waterfront property investment opportunities. The area’s population is estimated at nearly 160,000 people and was included in Forbes' list of "25 Best Places to Retire in 2015".

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This Build-for Rent portfolio provides an opportunity to acquire 25 single family homes being constructed by a well regarded local builder. The homes are scattered around the Deep Creek area of Punta Gorda, east of I 75 and north of the Peace River. The area is about ½ way between Fort Myers to the south and Sarasota to the north. Punta Gorda is the county seat of Charlotte County.

This BFR opportunity consists of three floorplans, ranging in size from 1,290 square feet to 1,745 square feet. All are three-bedroom and two-bathroom homes with 2-car garages. Strong rents in the area support strong projected returns. Because the community is located just off major arterial roads, it will be easy for residents to access anywhere in the area and beyond. Because this is a Build for Rent project, capital expenditures will be minimal for a number of years, allowing increased returns.