commercial listing presentation - powerpoint...note: taxes can be reduced by merging all 10 condo...
TRANSCRIPT
For Sale
RE/MAX COMPLETE SOLUTIONS
7301-A W PALMETTO PARK RD SUITE 100A
BOCA RATON FL, 33433
SEASTONE APARTMENTS – 10 UNIT MULTIFAMILY
DELRAY BEACH , FLORIDA
Residential Multifamily Building (Zoned for Reasonable accommodation). Great building
courtyard design with concrete roof. Consisting of spacious 10 units. (8) 2 bed 2 baths and
(2) 1 bed 1 bath. Building is located 1 block from the beach in renown Delray Beach FL. This
building is perfect for vacation rentals with great income potential for nightly, weekly,
monthly and seasonal rentals. Building is up to code with fire suppression and sprinkler
system. Laundry facilities, room for pool. Fenced lot and 21 deeded parking spaces. All units
are in good condition needs minor TLC.
Summary
Asking price 4,200,000.00
Units 10
Price/sqft $474.00
Total SF RSF 8,844
Total Lot SF 16,740
Cap Rate (Based on Vacation rental Pro-forma) 11.27%
GOI (Based on Vacation rental Pro-forma) $580,500.00 (based on 70% occupancy)
EXPENSES (without mortgage) $107,300.00
NOI (Based on Vacation rental Pro-forma) $473,200.00
Concrete roof. Laundry facilities. 1 block from the beach access. (Atlantic Ocean)
21 deeded parking spaces. Room for pool in courtyard.
Unit semi-furnished. All units in rentable condition.
Building is up to code with fire suppression and sprinkler system.
Pro Forma based on Vacation rentals @70% occupation
Units 10
Average per night 2 bedroom (8 units) $250.00
Average per night 1 bedroom (2 units) $150.00
Vacancy (estimate) 30% 95 nights
Occupation (estimate) 70% 270 nights
Income 2 bedroom (8 units) 1 bedroom (2 units)
$540,000.00$ 40,500.00
NOI $580,000.00
Expenses
Property Taxes $35,000.00 note: taxes can be reduced by merging all 10 condo folio#’s
Insurance $20,000.00
Electric $15,000.00
Cable/ Internet (estimate) $14,000.00
Water/Garbage $ 7,800.00
Maintenance and cleanings $ 9,500.00
Repairs (estimate) $ 6,000.00
Total Expenses $107,300.00
SQFT BREAKDOWN BY FOLIO
Unit # and Folio # SQFT Beds/Baths
12-43-46-09-61-000-0010 938 2/2
12-43-46-09-61-000-0020 938 2/2
12-43-46-09-61-000-0030 938 2/2
12-43-46-09-61-000-0040 938 2/2
12-43-46-09-61-000-0050 938 2/2
12-43-46-09-61-000-0060 938 2/2
12-43-46-09-61-000-0070 941 2/2
12-43-46-09-61-000-0080 667 1/1
12-43-46-09-61-000-0090 941 2/2
12-43-46-09-61-000-0100 667 1/1
Total RSF (Rentable Square Fee)
Total Lot size
8,844
16,740
Property
location less
than ¼ mile to
the beach and
Intracoastal
City and Location
Delray Beach is a coastal city in Palm Beach
County, Florida, United States. The
population of Delray Beach was estimated
at 67,371 in 2016. That is up from 60,522
according to the 2010 United States
Census.[8] Delray Beach is a principal city
of the Miami metropolitan area, which was
home to an estimated 6,012,331 people in
2015.
About Delray Beach Home to a bursting
culture, rich history, delicious food, and
myriad activities, Delray Beach is quickly
becoming one of the prime jewels in the
crown of Palm Beach County. Both tourists
and residents can find much to
appreciate, enjoy, and benefit from in
what may truly be the most fun small town
in America!
Delray Beach
Atlantic Avenue epicenter of Delray’s cultural
life. Recently named one of the 10 best urban
shopping and centers in America by USA Today.
Building Exterior
Courtyard (Room for Pool)
Laundry Facilities
Interior
