Updated over 4 years ago on . Most recent reply
help in selling 9 condo units out of 12 in Coral Springs Florida
Hello everyone,
I own 9 units in a 12 unit condo building in Coral Springs fl but am now looking to sell and move out of the area.
Does anyone have ideas on how to market these?.
what would these be even called? a fractured condo? a portfolio sale?
Also, are these type of deals able to be financed?
Current cap rate is 6.35% and proforma cap rate is 8.35%. I have not raised rates because I have mostly long term tenants and did not want to alienate them.
They are in fair condition, with gross income of $120,000 annually. The best thing the new owner gets the hoa presidency and controls the board.
Any tips would be appreciated.