Multi-Family Space For Lease @ 8400 N Desertrose Ter

THE DESERTROSE APARTMENTS IS AN 9-UNIT APARTMENT COMPLEX LOCATED IN CRYSTAL RIVER, FL. THE PROPERTY HAS 6 (2-BEDROOM/2-BATHROOM) UNITS AND 3 (2-BEDROOM/ 1-BATHROOM) UNITS WITH EXTREMELY UNDER-MARKET RENTAL RATES CURRENTLY IN PLACE! THIS FANTASTIC PROPERTY SITS ON A 1.65 ACRE LOT, WITH A LARGE PARKING LOT IN THE FRONT OF THE BUILDING FOR ALL TENANTS AND THEIR GUESTS.

DUE TO THE EXTREMELY UNDER-MARKET RENTAL RATES IN PLACE, A BUYER CAN EASILY OBTAIN A CAP RATE OF OVER 9% AND A CASH-ON-CASH RETURN OF OVER 16% BY THE BEGINNING OF 2022! THE SELLER IS ALSO OFFERING INCREDIBLE SELLER FINANCING TERMS WITH INTEREST-ONLY PAYMENTS, MAKING THIS DEAL EVEN BETTER!

APPROXIMATE SELLER FINANCING TERMS: $400,000 DOWN PAYMENT, FIXED 4.0% INTEREST RATE, INTEREST-ONLY PAYMENTS, 5-YEAR BALLOON.
(PLEASE SEE PAGE #5 FOR THE FULL SELLER FINANCING TERMS).

THE DESERTROSE APARTMENTS ARE CURRENTLY 100% OCCUPIED AND HAVE EXTREMELY LOW RENTS MAKING THIS AN IDEAL VALUE-ADD OPPORTUNITY FOR AN INVESTOR LOOKING FOR THE PERFECT CASH-FLOWING ASSET. WITH THE MASSIVE GROWTH AND DEMAND FOR APARTMENT RENTALS IN THE CRYSTAL RIVER AREA, THE PROPERTY HAS MASSIVE UPSIDE.

THE DESERTROSE APARTMENTS HAVE LONG-TERM TENANTS WHO HAVE LIVED IN THEIR RESPECTIVE UNITS FOR AN AVERAGE OF OVER 2.5 YEARS. THE OWNER AND MANAGER HAVE DONE A FANTASTIC JOB IN KEEPING THESE UNITS IN GREAT CONDITION AND HAVE NOT RAISED THE RENTAL RATES FOR THEIR LONG-TERM TENANTS. THIS ALLOWS THE NEW OWNER TO INSTANTLY RAISE THE RENTAL RATES AND INCREASE THEIR NOI WITHOUT HAVING TO SPEND MONEY ON PROPERTY IMPROVEMENTS RIGHT AWAY. THESE UNITS WILL STAY RENTED FOR YEARS TO COME AS THE PROPERTY VALUE RISES!


CURRENTLY, THE TENANTS ARE PAYING APPROXIMATELY $200-$300 PER MONTH BELOW THE AVERAGE MARKET RENTAL RATE. WITH MOST OF THE LEASES COMING DUE IN EARLY 2022, A BUYER CAN RAISE THE RENTAL RATES INSTANTLY TO THE MARKET AVERAGE, CREATING A MASSIVE JUMP IN NOI. THIS ALLOWS FOR THE PROPERTY TO PRODUCE INCREDIBLE RETURNS THAT ARE VIRTUALLY IMPOSSIBLE TO FIND ANYWHERE ELSE AT THE MOMENT IN THIS MARKET! This space offers accomodations for: lowrisegarden.