The Area is Home to a Growing Roster of Award Winning ... · SEMINOLE HEIGHTS PORTFOLIO 105 E...
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EXCLUSIVE MULTIFAMILY OFFERING EXCLUSIVE MULTIFAMILY OFFERING OFFERING SUMMARY Price $5,000,000 Down Payment 25% / $1,250,000 Loan Amount $3,750,000 Loan Type Financed Interest Rate / Amortization 4.85% / 25 Years Units 46 Price Per Unit $108,696 Rentable SF 33,474 Price Per Rentable SF $149 Year Built/Renovated 1925 / 2006 Lot Size 2.46 acre(s) SEMINOLE HEIGHTS PORTFOLIO 105 E GIDDENS AVE, TAMPA, FL 33603 46 APARTMENT UNITS INVESTMENT HIGHLIGHTS ASSET PERFORMANCE DATA CURRENT PRO FORMA CAP Rate 7.31% 6.97% Net Operating Income $365,310 $348,717 Net Cash Flow After Debt Service 7.57% / $94,662 6.25% / $78,069 Total Return 7.57% / $94,662 6.25% / $78,069 GRM 8.91 8.55 § Ten Historic Properties Located in One of Tampa's Hottest Urban Submarkets § Properties Account for the Bulk of the Multifamily Inventory in Seminole Heights § Turn-Key Operation with Minimal Vacancy, Minimal Turnover and Huge Rental Upside § Tampas First Suburb | 3-Miles to Downtown, 4-Miles to Westshore Business District § Seminole Heights has Become a Haven for Young Professionals, Artists, and Foodies § The Area is Home to a Growing Roster of Award Winning Restaurants and Craft Breweries This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services of Florida, Inc. © 2018 Marcus & Millichap. All rights reserved. (Activity ID: Z0250059 Property ID: 2357724)
Transcript of The Area is Home to a Growing Roster of Award Winning ... · SEMINOLE HEIGHTS PORTFOLIO 105 E...
EXCLUSIVE MULTIFAMILY OFFERINGEXCLUSIVE MULTIFAMILY OFFERING
OFFERING SUMMARYPrice $5,000,000Down Payment 25% / $1,250,000Loan Amount $3,750,000
Loan Type FinancedInterest Rate / Amortization 4.85% / 25 Years
Units 46Price Per Unit $108,696Rentable SF 33,474Price Per Rentable SF $149Year Built/Renovated 1925 / 2006Lot Size 2.46 acre(s)
SEMINOLE HEIGHTS PORTFOLIO105 E GIDDENS AVE, TAMPA, FL 3360346 APARTMENT UNITS
INVESTMENT HIGHLIGHTS
ASSET PERFORMANCE DATA
CURRENT PRO FORMA
CAP Rate 7.31% 6.97%Net Operating Income $365,310 $348,717Net Cash Flow After Debt Service 7.57% / $94,662 6.25% / $78,069Total Return 7.57% / $94,662 6.25% / $78,069GRM 8.91 8.55
§ Ten Historic Properties Located in One of Tampa's Hottest Urban Submarkets
§ Properties Account for the Bulk of the Multifamily Inventory in Seminole
Heights
§ Turn-Key Operation with Minimal Vacancy, Minimal Turnover and Huge Rental
Upside
§ Tampas First Suburb | 3-Miles to Downtown, 4-Miles to Westshore Business
District
§ Seminole Heights has Become a Haven for Young Professionals, Artists, and
Foodies
§ The Area is Home to a Growing Roster of Award Winning Restaurants and
Craft Breweries
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services of Florida, Inc. © 2018 Marcus & Millichap. All rights reserved. (Activity ID: Z0250059 Property ID: 2357724)
EXCLUSIVE MULTIFAMILY OFFERING
UNIT MIX
UNIT COUNT UNIT TYPE AVERAGE.
SQUARE FEETCURRENT AVG.
RENTAVERAGERENT/SF
MONTHLY INCOME
POTENTIAL RENTS
AVERAGE RENT/SF
MONTHLY INCOME
1 Studio 272 $700 $0.00 $0 $800 $2.94 $800
6 1Bdr/1Bath 433 $900 $0.00 $0 $975 $2.25 $5,850
1 1Bdr/1Bath Cottage 540 $1,100 $0.00 $0 $1,175 $2.18 $1,175
20 1Bdr/1Bath 659 $943 $0.00 $0 $1,015 $1.54 $20,300
EXPENSES
Total Expenses $197,164 $243,610
Total Expenses $197,164 $243,610
Expenses Per Unit $4,286 $5,296
Expenses Per SF $5.89 $7.28
% of EGI 35.05% 41.13%
EXCLUSIVE MULTIFAMILY OFFERING
101 West Elm Street, Suite 600, Conshocken, PA 19428 | Tel (215) 531-7000 Fax: (215) 531-7010
OPERATING DATA
CURRENT PRO FORMA
Gross Scheduled Rent $561,300 $585,085
Less: Vacancy/Deductions (GPR) 3.50% / ($19,646) 3.50% / ($20,478)
Total Effective Rental Income $541,654 $564,607
Other Income $20,820 $27,720
Effective Gross Income $562,474 $592,327
Less: Expenses ($197,164) ($243,610)
Net Operating Income $365,310 $348,717
Cash Flow $353,810 $337,217
Debt Service ($259,148) ($259,148)
Net Cash Flow After Debt Service 7.57% / $94,662 6.25% / $78,069
Total Return 7.57% / $94,662 6.25% / $78,069
SEMINOLE HEIGHTS PORTFOLIO105 E GIDDENS AVE, TAMPA, FL 3360346 APARTMENT UNITS
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services of Florida, Inc. © 2018 Marcus & Millichap. All rights reserved. (Activity ID: Z0250059 Property ID: 2357724)
