11613 Se. 57th Ave. - $850,000

Description

An absolutely gorgeous and beautiful property consisting or 2 separate side by side custom built quads with individual parcel numbers. Great income property. Priced to sell. This is a two in one property sale. Seller is willing to sell each quad under separate contract in order for the Buyer to qualify for HUD, FHA, or a VA loan, but both buildings must be sold jointly at the same time. This is a wonderful 55+ community, with a very close nit elderly tenant population. Most all tenants have been residents since 2018 after the apartments were completely renovated. Currently all tenants are over 62 years of age with single occupancy. As such, possibility of converting to 62+ community. All units, total of 8, were completely gutted and refurbished in late 2017 to mid 2018. New roofs on both buildings with 40 year - 150 MPH, GAF shingles installed by Big D Roofing (commercial grade roofing contractor). All new porcelain PEI Grade 4 tile, all new appliances, all new high efficiency central air conditioning and heating systems (still under warranty), all new water heaters, all new water and electric fixtures, switches and outlets.... Units are solidly built with concrete block and stucco walls around the entire building and all concrete block walls in between all apartments inside the building, making them super solid buildings with minimal to no noise transfer between apartments. Very quiet area that is located on a dead end street with local traffic only. In the middle of the City of Belleview, and close to all the shopping. Majestic old growth Live Oak trees and Southern Yellow Pine trees on the property. A great investment opportunity and income property without any of the issues and headaches that come with a rental property and uncooperating tenants. All tenants are retired and always pay on the 3rd of the month. Never late rents. The complex was originally custom built with the highest grade of construction and material by the initial owners for retirement income purposes. Which included such things as installing high end fixtures made by Kohler.... The current owner is the second owner of the property, and has continued the renovation and upkeep of the properties with the best quality materials, such as installing high performance Rheem water heaters and high efficiency Goodman A/C systems and low flush American Standard toilets.... The property continues to be almost like new construction. All units have their own individual water and electric meters which are paid for by the tenants. The only expense by the owner is for lawn maintenance. Current owner is selling due to retirement. At the current sale price, the high CAP rate on this property makes it an ideal investment without the headaches coming from undesirable tenants, and with a great return on investment.

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