100+ multifamilies in FL - high and medium cap rates

9 Replies

Buy all or separately. Individual soft LOI required for more information. POF required also. Buyers side pays fees.

1) In Orlando FL has 308 units and a Class A. Currently in lease up,can't sell until 2018. The Asking Price is $70,000,000 + 3% fees . No address listed.2) In Orlando FL has 264 units and a Class A. Currently in lease up, can't sell until Sept 2018. The Asking Price is $52,000,000 + 3% fees. No address listed.

3) In Fort Myers FL has 325 units and a Class A. Has a 91% occupancy and the NO I is $3.5 M. The Asking Price is $69,000,000 + 3% fees. No Address Listed.

4)Boynton Beach FL has 338 units and a Class A. 98% occupancy at a sub cap 5% depends on final price. The Asking price is $62,000,000 + 3% fees. No Address Listed

5) Boynton Beach FL has 226 units and a Class A. 98% complete,available Sept 2018. Take now with little or no leased units,or take after rented by developer. The Asking price is $52,000,000 + 3% fees. No Address Listed

6)Boynton Beach FL has 125 units and a Class A. 90% occupancy which is updated and stabilized. The cap is 5% with a 40 to 50k upside potential. The Asking price is $21,000,000 + 3% fees. No Address Listed

7) Clermont FL has 328 units and a Class A. The cap is 5% and the NO I is $3.7 M. The Asking price is $75,000,000 + 3% fees. No Address Listed

8) Clermont FL has no units listed and is a Class A. Currently in lease up at 62%, should be completed by March 2018. No Asking Price Listed. No Address Listed.

9)Hollywood FL has 336 units and is a Class A. The Asking price is $90,000,000 + 3% fees. No Address Listed

10)Melborne FL has 151 units and a Class B. 99% occupancy and add 2% buyer fee it's listed on market. The Asking price is $14,250,000. No Address Listed

@Gregory S. do you run into any that you wholesale outside of Florida like Charleston, Atlanta, Savannah? I am the co-founder of Wellings Capital a syndication firm and we are loaded to take down another asset in Q1 or Q2 but we don't do Florida as it is too much of a cyclical real estate market for our tastes.

Hi Brian,

  Yes - I have one in Atlanta area right now. It's a Class B portfolio of duplexes that make up 48 units. The Asking price is $4.12 M + 3% fees. This has a 9.5% cap and is located in Atlanta GA. The NO I is $380,000. The annual is $473,000.

Many of these commercial properties are multifamilies in need of a buyer or buyers. I work with a broker who has them under contract. If your side can move quickly with a "soft" LOI (non-binding) and POF - we can move pretty fast getting you the pre-due diligence information you need. I can send you an LOI to get started if you want. Our seller's brokers likes to close within 30 "calendar" days as well.

Also - I have a few Virgina area multifamily properties too.

Well, your broker buddy just has a list of grossly overpriced properties(looks like some daisy chain/connected investor crap).....$200k/unit for apt.s in these areas are just delusional.  20% total operating expenses/management/ vacancies, etc on a bunch of duplexes in Atlanta.....sure.

It is cute though that you think buyers of $50-$90M properties are going to pay 3% buyer fees.

Hi Prashant. I have sent you two separate e-mails. All properties are off market. I am direct to brokers. For more detailed information, a "soft" LOI and POF would be required. All non-binding.

Thanks.

What is "direct to brokers"? Are these the same properties you thought you had sold but were worried about getting paid??

No company avatar mediumJohn Thedford, John Thedford | 239‑200‑5600 | http://www.capehomebuyers.com | FL Agent # BK3098153

Does the broker know you are marketing properties? If you are not a licensee, and he pays you a fee, he is putting his license at risk. Legally he cannot pay you one dime if you are not licensed.

No company avatar mediumJohn Thedford, John Thedford | 239‑200‑5600 | http://www.capehomebuyers.com | FL Agent # BK3098153