Multi-Family Space For Lease @ 9718 N Nebraska Ave

THE SEMINOLE HEIGHTS APARTMENTS IS AN 8-UNIT, CONCRETE BLOCK, APARTMENT COMPLEX LOCATED IN TAMPA, FL. THE PROPERTY IS LOCATED IN SEMINOLE HEIGHTS, ONE OF THE FASTEST-GROWING MARKETS IN TAMPA, FL! THE PROPERTY BOASTS AN INCREDIBLE IN-PLACE CAP RATE OF OVER 11% AND A CASH-ON-CASH RETURN OF OVER 20%! THE SELLER IS OFFERING AMAZING SELLER FINANCING WHICH MAKES THIS DEAL EVEN BETTER!

(PLEASE SEE PAGE #5 FOR THE FULL SELLER FINANCING TERMS).

THE SEMINOLE HEIGHTS 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 REDEVELOPMENT PLANNED FOR THIS AREA, THE PROPERTY HAS MASSIVE UPSIDE.

THE PROPERTY CONSISTS OF SEVERELY BELOW-MARKET RENTS FOR THE AREA AND PRESENTS MASSIVE UPSIDE FOR AN INVESTOR. CURRENTLY, THE BUILDING IS 100% OCCUPIED WITH ALMOST ALL TENANTS ON MONTH-TO-MONTH LEASES. 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!

WITH THE FANTASTIC SELLER FINANCING OFFERED AND THE ABILITY TO INSTANTLY RAISE THE RENTAL RATES AT THE PROPERTY, A BUYER CAN OBTAIN A CAP RATE OF OVER 14% AND AN CASH-ON-CASH RETURN OF OVER 25% BY EARLY 2022! THESE INCREDIBLE RETURNS ARE VIRTUALLY IMPOSSIBLE TO FIND ANYWHERE ELSE AT THE MOMENT IN THE TAMPA MARKET!

SELLER FINANCING APPROXIMATE TERMS:

DOWN PAYMENT: $300,000!

FIXED INTEREST RATE: 5.0%

INTEREST-ONLY PAYMENTS

BALLOON LENGTH: 3- YEARS

MONTHLY DEBT SERVICE AS LOW AS $1,666!

THE BEST PART OF THIS SALE IS THAT THE SELLER IS WILLING TO PROVIDE SELLER FINANCING AT AMAZING TERMS. CURRENTLY, THE SELLER IS OFFERING THE FOLLOWING SELLER FINANCING TERMS: $300,000 DOWN PAYMENT, 5.0% FIXED INTEREST RATE, INTEREST-ONLY PAYMENTS, WITH A 3-YEAR BALLOON. THESE TERMS ALONG WITH THE RENTAL INCREASES AVAILABLE TO THE BUYER WILL EASILY PRODUCE A CASH-ON-CASH RETURN OF APPROX. 25% BY THE END OF 2022!

THESE TERMS ARE FAR BETTER THAN ANYTHING A BANK CAN CURRENTLY OFFER AS A PROPERTY LIKE THIS WOULD REQUIRE CLOSE TO APPROXIMATELY 30% DOWN AND WOULD ONLY OFFER AN AMORTIZATION OF APPROXIMATELY 20-25 YEARS AT BEST WITH NO INTEREST-ONLY OPTION AVAILABLE!

THE BUYERS MONTHLY SAVINGS, FROM USING THE INTEREST-ONLY OPTION ARE IMMENSE. THESE TERMS ARE FAR SUPERIOR TO ANY CONVENTIONAL FINANCING AVAILABLE IN TODAY'S MARKET!

CURRENTLY, THE OWNER HAS ALL OF THE TENANTS ON MONTH-TO-MONTH LEASES AT THE PROPERTY. THE TENANTS PAY APPROXIMATELY $200 PER MONTH BELOW THE AVERAGE MARKET RATE! THIS WILL ALLOW FOR A MASSIVE JUMP IN THE POTENTIAL NOI THAT IS EASILY OBTAINABLE WITH THE CURRENT RENTS BEING SO UNDERVALUED DUE TO THE PROPERTIES FANTASTIC CONDITION, LOCATION, AND DEMAND!

THE PROPERTY FEATURES AMPLE PARKING FOR ALL TENANTS AND EACH UNIT HAS ITS OWN WINDOW AC SYSTEM, WHICH IS AN AMAZING FEATURE. THESE WINDOW UNITS ARE EXTREMELY CHEAP AND EASY TO REPLACE, WHICH WILL SAVE THE NEW OWNER A TON OF MONEY IN THE FUTURE WITHOUT HAVING TO REPLACE LARGE AND EXPENSIVE HVAC SYSTEMS. THE PROPERTY HAS TILE FLOORING THROUGHOUT AND THE OWNER PAYS FOR ALL WATER AND SEWER AT THE PROPERTY!

ONE OF THE STRONGEST FEATURES OF THE PROPERTY IS THE LARGE NUMBER OF LONG-TERM TENANTS WHO HAVE LIVED ON-SITE FOR MANY YEARS. BECAUSE THE OWNER HAS TAKEN CARE OF THESE TENANTS AND ENJOYS THE STATUS QUO, THEIR RENTAL RATES ARE EXTREMELY LOW. THIS GIVES THE BUYER MASSIVE UPSIDE AS THEY WILL HAVE THE ABILITY TO INCREASE THE RENTAL RATES IMMEDIATELY UPON TAKING OVER THE PROPERTY.

THE PROPERTY CURRENTLY HAS A WAITING LIST OF POTENTIAL TENANTS THAT WANT TO MOVE IN IF A UNIT WERE TO BECOME AVAILABLE. THIS CLEARLY SHOWS THE AMOUNT OF DEMAND THIS PROPERTY POSSESSES. A BUYER CAN EASILY FIND TENANTS WILLING TO PAY AT LEAST THE CURRENT MARKET RATE, $200 MORE PER MONTH, WITHOUT SPENDING MUCH MONEY, IF ANY, ON IMPROVING THE UNITS! THE PROPERTY POSSESSES MASSIVE UPSIDE. WHICH IS VIRTUALLY IMPOSSIBLE TO FIND ANYWHERE AT THE MOMENT. This space offers accomodations for: lowrisegarden.