Trafalgar Townhome Package - Lake Placid, FL

Listing was updated at: 10/02/2019
Property Overview
Price/Rent PSF $ 510,000.00
Asset Type Investment
Trade Type Sale
SQ. FT. Available 6,153
Date Available 03/01/2019
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The Offering RKommercial Group is pleased to offer for sale a 5 townhome investment package that is revenue generating in the quaint town of Lake Placid in Florida. The 5 townhomes make up a total living area of 6,153 SF and is currently 100% leased. All these townhomes are owned by the original builder, who also had built the surrounding community. All the townhomes were built in 2008, and have undergone some minor renovations in 2018. These are the sole remaining townhomes that the original builder owns and would like to offer them at a very competitive price. These are priced to SELL Cap Rate: 4.31% Investment Highlights Small Price Point This investment is a small price point with great upside potential on the cap rate, as the rentals are slightly below market. New Lease Terms All tenants recently renewed their leases for 1 year terms. This would allow for a continuous revenue stream. Below Market Price All the townhomes are priced well below market average by at least 12% below historical rates. Great Upside Potential This investment opportunity can generate a very favorable upside potential in several different ways: - Resale of the townhomes individually at 14% - 25% higher prices - Removal of property management fees if properties are self managed -Potential of increasing rental rates as they are currently below market rates -Transferring CAM and tax expenses over to the tenants instead of absorbing those costs