240 Units
258,200 SF
2 and 3 stories
concrete block
Built in 1998
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Property Documents
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Ray Turchi
Senior Managing Director Investments
[email protected]
Senior Managing Director Investments
[email protected]
(407) 557-3847 (office)
(321) 297-6576 (mobile)
Unit Mix
| # | Type | SF | Avg Rent | Mkt Rent |
|---|---|---|---|---|
| 18 | 2 x 2 (35% AMI) | 1,034 | $337 | $342 |
| 18 | 3 x 2 (35% AMI) | 1,100 | $377 | $375 |
| 102 | 2 x 2 (60% AMI) | 1,039 | $681 | $687 |
| 102 | 3 x 2 (60% AMI) | 1,115 | $775 | $774 |
Investment Highlights
- Located in both a qualified census tract (QCT) and a difficult to develop area (DDA)
- Close proximity to major employers including Disney and Universal Studios
- Class B+ Stabilized Affordable Asset
- 98.8% Physical Occupancy and 100% Pre-Leased
Key Metrics
GRM:
9.30
GRM Year 1:
9.08
Leveraged Cash-on-Cash Return (Avg Years 1-5):
13.10%
Leveraged Cash-on-Cash Return Current Year:
6.90%
Leveraged Cash-on-Cash Return Year 1:
10.60%
Operating Expenses/ Unit (Year 1):
$3,713
Operating Expenses/ SF (Year 1):
$3.45
Leveraged IRR (Year 10):
17.40%
DSCR (Current)
1.21
DSCR (Year 5)
1.31
Net Present Value
$3,145,422
Average Monthly Rent/ Unit Current
$694.00
Price/ Unit
$77,083
Price/ SF
$99.52
Listing Agents:
Ray Turchi
Ray Turchi
(407) 557-3847