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PRP is pleased to present a 32- unit bulk duplex/multifamily offering in Cocoa & Titusville, FL within Brevard County known as the Florida's Space Coast Towns. All units are 100% occupied with a waiting list for occupancy and the demand for individual owner occupant units are in high demand. 9 duplexes are located in Cocoa, FL built in 1985 w/ an average of 870/SF & average rentals of $621/ monthly. Two low rise apartment buildings for a total of 14 units located within Titusville. Fantastic location situated between Royal Oaks Golf Course and Villas at La Cita Golf Course. Site is less than one mile from the beach, stable property with little to no deferred maintenance. Built in 1985 average units are 818/SF w/average rentals of $604/month. 100% occupied with a 10.2% in place cap. Package deal for investors who are seeking a bulk purchase less then replacement cost with solid performance and stability.
The property consists of a total of 15 acres, and 10 of those acres are utilized as a mobile home/RV park. The contiguous 5 acres are zoned vacant residential land, single family. Could be used as a future community development. The park has a total of 109 lots: mixed M.H./RV and 1 rental house. All units are tenant owned. Public utilities with the exception of the water. All lots are separately metered. There's an office/clubhouse, and laundry room. All paved roads with plenty of street lights. Seasonal park with a tremendous cash flow. Rent increase of $30/per lot as of Jan.2015.
Investors take notice, this duplex is already fixed up and rented. Each tenant is Section 8, guaranteed income. Renovations already completed. Newer roof, Window World windows high energy windows installed, lifetime warranty. New refrigerators both units, newer a/c unit inside and out both units in last 3 years new cabinets in last 3 years on east unit.