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Purchase Price |
$5,000,000 |
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Cap Rate |
-0.50% |
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Property Type |
Residential |
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Rentable Square Feet |
90,000 |
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Price per RSF |
$55.56 |
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Number of Tenants |
132 |
| | | Property Description |
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132 condo conversion units in a projct that
includes a total of 160 condos.
Built in 1983. FHA approved.
Recent sales from mid 2008 are at an average
of $120 per square foot.
Vacancy is high today but stabilizing the
property within 12 months will produce great
results for a value add investor :
*** Net cash flow - 19%
*** IRR - sell in 5 years - 41%
*** ROI Cumulative - 593%
* population is 301,516.
* The household count is 120,866.
* 57.1 percent of housing units are owner occupied.
* 36.4 percent, renter occupied.
* 6.6 percent are vacant.
* Average household income is $57,614.
* 9% unemployment.
* 62.9 percent in white collar jobs.
WWW.GLIXUS.COM |
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| Presented To You By |
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Sean Glickman, CIPS TRC CSP
561-488-7766
seanglickman@gmail.com
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The information above has been obtained from sources believed reliable. While
we do not doubt its accuracy we
have not verified it and make no guarantee, warranty or representation about
it. It is your responsibility to independently confirm its accuracy and
completeness. Any projections, opinions, assumptions, or estimates used are for
example only and do not represent the current or future performance of the
property.
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