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.
Owner Financing Considered with Substantial Down! Sycamore Apartments is a 32-unit apartment community located in the city of Titusville, Florida, which is in Brevard County. Built in 1965, the property was extensively renovated and completed in the last six months. Once the renovations were completed, the property was well-positioned for rapid lease-up due to its geographic advantages. The south Titusville location will ensure the property enjoys stable occupancy, strong rental rates and capital appreciation as the overall market and economy continues to improve. The property is a two story concrete block structure with painted stucco. The apartment building features interior block walls, new A/C and heat wall units, new kitchens and bathrooms, appliances, new plumbing and electrical reconfiguration, and interior renovations. The unit mix consists of 31 one-bedroom and one-bathroom units with approximate size of 425 rentable square feet, 1 two-bedroom unit and one bathroom units with approximate size of 850 square feet.Presently, the units are being rented for $450 to $475, which are current market rates. Call or email to receive investment report.
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.
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Ten 1-bed, 1-bath apartments with washer dryer hook-ups in each unit. Currently six units are rented so the CAP rate will increase significantly once the other four are occupied. Owner is in the process of moving and wants to liquidate. The roof is 2006 and the construction is brick with ample tenant and over-flow parking.