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Updated almost 3 years ago on .

User Stats

59
Posts
25
Votes
Wendy Fate
  • Rental Property Investor
  • Bluff City, TN
25
Votes |
59
Posts

Selling my large luxury 1/1 condo vacation rental in SE FL

Wendy Fate
  • Rental Property Investor
  • Bluff City, TN
Posted

Off Market deal.      Sale Price: $280,000

Monthly Income: $2,800/mo

Monthly Expenses: $990/mo

CoC ROI: 7.63%

Only selling to scale our STFR business. We want to use the cash for the next bigger project. This property is well maintained with new A/C and appliances. No issues with anything. Great HOA, great neighborhood and neighbors.

Coveted Large luxury 1 Bed/1 Bath 1,011sf

condo in Stuart, FL. Martin County borders Palm Beach county to the north and is a wealthy oasis of beautiful beaches, shops, restaurants, spas, services and Cleveland Clinic hospitals.

Snowbirds love this space and book ahead for season one year in advance. Travel nurses love it, buyers relocating to the area love it, professionals on contract with Northrop Grumman at Witham Field or work from home travelers go on and on about how much they love this space. We even had a couple from the west coast book for a year just to have a place to stay when coming to check on aging parents. The community is friendly and welcomes our guests as their own.

1,011sf Upper, end unit with Full size kitchen, laundry room, vaulted ceilings, huge bedroom with large walk in closet. Large climate controlled patio with roll out windows. Plantation shutters, tile, wood laminate flooring throughout. No carpet. Reserved covered parking at your door. Lake view, near the heated pool and clubhouse.

Fully furnished for Airbnb longer term stays. 3 month minimum lease per association. Can be rented right away, no 2 year delay like many other communities in Martin County. All ages welcome. (check age restrictions and rentability on all comps) Pet friendly for owners and renters, also rare, and this HOA allows trucks up to 3/4 ton. This is a hard to find, one of a kind property for investors in desirable Martin County. Operate everything from your phone using the Smart Thermostat, Yale Nest wifi keyless entry and Blink camera for easy self check in. Exceptional cleaning professional handles guest turn overs and maintains the property.

Currently rents for $2,800- $3,000 off season. $3,800/mo for Jan/Feb/March/April

HOA $507/mo covers Water, Sewer, Trash, HD Cable, Maintenance of building exterior, pool, tennis courts, club house, landscape, grounds, building insurance, paving, parking, etc.

Total expenses average $1,000/mo for Taxes, Insurance, HOA, electric and wifi.

New HVAC, 1 year ago, with warranty. New SS French Door Fridge with water and ice on the door. New Bosch dishwasher. Newly renovated bathroom and updated kitchen.

Indian Pines is centrally located in the heart of Stuart. Walk to shops, restaurants and parks. Bike to the beach.

This property has been amazing. I truly have no issues or complaints with the HOA, the building or the people. We used this property to vacation in it ourselves and have made it a truly gorgeous place. We manage it from TN and have never had an issue. Easy as it gets. We just need the cash to scale up with our next big project. It will be a great cashflowing property for another happy investor.

Call, text or email me directly with any questions. I am the owner.

Wendy Fate 423-534-5017 [email protected]

Property address: 3071 SE Aster Ln #204 Stuart, FL 34994 Located in Indian Pines. See attached BP Rental Property Report with numbers.

BP Rental Property Analysis https://www.biggerpockets.com/...

YouTube virtual tour: Large Luxury condo SE FL coast

https://www.biggerpockets.com/analysis/rentals/6e8fe474-7c4f-4461-a51f-4e4277fa2a65

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