TEXAS PROPERTIES
500 UNIT MULTI-FAMILY DEVELOPMENT OPPORTUNITY WITH P&Z & CITY COUNCIL APPROVALS. Price: $14 Million
GET IN ON THE GROUND FLOOR FOR THIS NEW HOUSING DEVELOPMENT.
MELISSA, TEXAS
- Will subdivide into two 250 units.
- All Utilities available on site.
- Road development to site will be completed by developer.
- Property has views of park and trails, with walking trails.
- Restaurants and retail walkability Easy accessibility to Hwy 75
- Collin County Outer loop within 2 miles 3 minute driving distance to McKinne
PROPERTY REQUIREMENTS Property has views of park and trails, with walking trails. Restaurants and retail walkability Easy accessibility to Hwy 75 Collin County Outer loop within 2 miles 3 minute driving distance to McKinney Price: $14M Will subdivide into two 250 units. All Utilities available on site. Road development to site will be completed by developer. PARKING REQUIREMENTS: 1.5 SPACES PER 1 BEDROOM UNIT, 2 SPACES PER 2 BEDROOM UNIT, AND 2 SPACES PER 3 BEDROOM UNIT OR LARGER COVERED PARKING AND DETACHED GARAGES : PARKING UNDER BUILDINGS (1 STORY) WILL BE COUNTED TOWARD COVERED PARKING REQUIRMENTS MINIMUM UNIT SIZE: 700 SQFT FOR 1 BEDROOM; 900 SQFT FOR A 2 BEDROOM UNIT; 1,000 SQFT FOR A 3 BEDROOM UNIT MAXIMUM DENSITY: THE LESSER OF 27 UNITS/ACRE OR 500 UNITS MAXIMUM HEIGHT: 55 FT/ 4 STORIES (1 STORY ON THE BOTTOM FLOOR TO ALLOW FOR PARKING) LOT AREA PER UNIT: 1,600 SQFT PER UNIT ELEVATOR: REQUIRED MINIMUM OPEN SPACE: 20% + OFF-SITE
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WE HAVE 478 UNITS IN HOUSTON THAT NEED WORK AND HAVE MANAGEMENT ISSUES FOR $21 MILLION!!! ASK ME!!
WE HAVE 3 LAND DEALS FOR BUILD TO RENT COMMUNITIES!
WE HAVE 136 UNITS FULLY REHABBED
WE HAVE THE 292, 219, 79 AND 34 UNITS FOR SALE
WE HAVE THE 400 UNITS AVAILABLE
WE HAVE THE 9.5 ACRES IN RICHMOND FOR APARTMENTS
WE HAVE THE 22 AND 17 ACRES IN MELISSA FOR APARTMENTS
*** WE HAVE A 300 UNIT PORTFOLIO IN HOUSTON ALL WITHIN WALKING DISTANCE OF EACH OTHER FOR $24 MILLION! ASK ME FOR DETAILS ***
*** WE HAVE 292, 400 AND THE 136 UNITS AVAILABLE!!!! ***
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THE 280 UNIT COMPLEX BUILD IS STILL AVAILABLE IN RICHMOND
WE HAVE THE 20,34 AND THE 2, 7 UNITS AVAILABLE!!!!
THE MOTELS ARE AVAIALBLE!!!!!
THE LARGE STRIP CENTER IS AVAILABLE!!!!***********
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North Florida 39 Unit Motel Package
Investor Price: $1,699,000*
41 bed 40 bath 10480 sq ft Built in 1956 Multi-family
- Rental Income $37,188 mo. / $446,256 yr.
- Investor Price $1,699,000
- Closing Costs to Buy $33,000
- Rehab Projection $243,000
- Utilities $25,000
- Property Insurance $26,000 / yr.
- Estimated Taxes $15,000 / yr.
- Property Management $50,000 / yr.
- Maintenance $40,000 / yr.HOA Dues $0 / yr.
- $315,256 Projected Income
- 15.76% Estimated APY
Property Details
An enormous upside opportunity is now available with these 39 units! Equitypro presents these extended-stay motels located in Northeast Florida, and only 40 minutes from Jacksonville.
This opportunity has two locations, one with 20 units and the other with 19 units. These properties are located on busy US Highway 1 and consist of 37 efficiency units, 3 apartment units, as well as 2 restaurant spaces. Nightly room rates average $65-$85, however, most occupants rent these units weekly for $270-$280, and the apartments rent for $450-$500 per week. Even with limited management and deferred maintenance, the current occupancy rate hovers around 60%, on average, thus leaving some valuable, value add!
We recommend utilizing one of the apartments as an on-site manager's suite, making improvements to the grounds and interiors, and renting the restaurant spaces for additional income. We anticipate an approximate 17% yield once weekly rates are raised to $250-$260 and the restaurant is rented at $2000-$3000 monthly. In addition, this portfolio sale also includes an adjacent, vacant 1.78-acre lot that can help further increase cash flow. Furthermore, the current owners have a proposed layout for a 16-pad RV parking, yet with its location and right vision, there still exists additional exit strategies.
Once stabilized, we estimate a market cap rate value of $3,000,000! This would be an ideal investment to close out your 2023 and potentially minimize your taxable income by writing off the depreciation. At less than $45k per door, we are anticipating a substantial response to this opportunity. Out of two motels the one motel has a two rooms damaged by smoke & by electric short circuit. Contact Us For more details and photos.
Seffner, Florida Pool Flip
Investor Price: $295,900*
2 bed 2 bath 720 sq ft Built in 1966 Single Family
- After Repair Value $439,900
- Investor Price $295,000
- Closing Costs to Buy $4,000
- Rehab Projection $63,200
- Utilities $500
- Closing Costs to Sell $19,755
- $57,445 Projected Income
- 15.02%Estimated ROI
Property Details
Feast your eyes on this block house with mass potential in Seffner, FL. For starters, this is the lowest-priced pool home within a two-mile radius. Situated on a quarter of an acre of land, the property features a two-car garage and in-ground pool. Although this project requires a full rehab, it should garner a great deal of attention once renovations are complete. Comparable sales activity is very strong in this area and availability of pool homes is low. Recently sold pool homes in this zip code are selling within a few days on market and many above list price. Don't miss the chance to turn this diamond in the rough into a lucrative investment. Contact Us For more details and photos.
Tampa, Florida Flip or Rent
Investor Price: $155,000*
3 bed 2.5 bath 1,651 sq ft Built in 1982 Single Family
- After Repair Value $269,900
- Investor Price $155,000
- Closing Costs to Buy $3,500
- Rehab Projection $47,000
- Utilities $500
- Closing Costs to Sell $12,105
- $51,795 Projected Income
- 23.75% Estimated ROI
Property Details
Located in the heart of Tampa, just west of I-275 is this affordable opportunity that presents multiple exit strategies. The two-bedroom, two-bathroom home has been used as a rental for many years and is ready to be polished up, unleashing its true potential. Several desirable features include an attached carport, screened-in porch and large shed. In order to maximize your return on this investment, we recommend a full cosmetic rehab, and a new central A/C unit. The roof is ten years old so we have also budgeted for that. Renovated homes of a similar size and style are breaking $300K in sales price. The comparables used show a promising after-repair value, all within a half-mile radius of the property and most selling within a few days of hitting the market. Furthermore, rental activity is booming in the immediate area, suggesting a market rent of around $1,800/month. Properties at this price point are hard to come by in Tampa Contact Us For more details and photos.
New Smyrna Beach, Florida Flip
Investor Price: $359,900*
3 bed 2 bath 1560 sq ft Built in 1955 Single Family
- After Repair Value $550,000
- Investor Price $359,900
- Closing Costs to Buy $7,500
- Rehab Projection $58,000
- Utilities $500
- Closing Costs to Sell $24,750
- $99,350 Projected Income
- 22.05% Estimated ROI
Property Details
Here is an amazing fix and flip opportunity in a fantastic location within New Smyrna beach! This block home boasts 1,560 square feet of living space with 3 bedrooms and 2 bathrooms. We recommend finishing the interior, painting the inside and outside, replacing the roof, HVAC and hot water heater. Once the repairs are finished, there are solid comps to support a high resale value right down the street from the subject property.
With the concrete block construction and the potential high return, this property makes an ideal candidate for a fix and flip. Large profit deals are few and far between Contact Us For more details and photos.