Oct 20 '05, 07:02 AM-Picked up this contract last week and am looking to assign it. Here are the details on The Venturella at Lake Buena Vista, across the street from Disney property. Phase I is already sold out and Phase II has seen an increase of 15% to all units!
-Hold one Diamond Club (top floor) studio unit under contract for $217,900 that can be assigned for $10k, or best offer. This unit has already appreciated almost $33,000.
Venturella Website: http://firstalertproperties.com/VenturellaResort.html
Development is by the owner of Frankfort, IL-based GV Designer Homes:
http://www.gvdesignerhomes.com
This is an upscale, 4 Star condotel designed for an upscale area. The occupancy rates in 2005 in Orlando have been 80-90%, the best on record. The Sheraton Safari, located near The Venturella, reports its occupancy at approximately 96-97% for the year. The 6th floor is limited access, with a private library and lounge/concierge service, and the units will include 42-inch plasma screen TV's and kitchenettes. The average rate that will be charged to overnight guests is $120, with the owner/management split at 60/40 (Owner receives 60% of rental income).
This unit is approximately 350 square feet, and the homeowner's fees will be between $350-425 (with the higher range on the Diamond Level). The closing will be in early summer 2006. This is going to be a great property, with a proven high occupancy location next to Disney. The second phase is already selling, and Phase III should see a nice appreciation, as well!
Please respond to gregorysumner@msn.com to submit offer.
