16-unit paired villa community in Osprey, FL ** Confidential Offering

Image result for highland rd, osprey, fl

Image result for highland rd, osprey, fl

 

The Villas of Osprey is a 16-unit
apartment community, that consist of eight contiguous
duplex buildings, on eight parcels of land.

All the buildings were built in 2000 with solid concrete block construction
and every unit in the community is a large 2 bedroom / 2
bathroom unit with ample parking for two to three cars.
The property is offered with the added bonus of having an
on-site property manager already in place. This individual
has resided at the property for many years and knows the
property very well. The current compensation structure for
his services is a rent reduction of $300/month.

At this point, all indications are that this individual would like to
continue this arrangement, however, this would need to
be confirmed directly with him during due diligence. The
property manager’s responsibilities include handling day
to day contact with tenants, handling repair requests,
lease renewals, ordering new leases from the seller’s
attorney, and handling the move in process for new
tenants. For any new tenants he leases too, the property
manager also receives a $50 fee. On the owner’s side, he
handles the financial accounting, and bill paying for the
property.
Location Overview
The Villas of Osprey is located “west of the trail” (Route
41/Tamiami Trl) between Sarasota and Venice and on the
Intracoastal Waterway. The property sits just South of the
affluent Southbay Yacht & Racquet Club neighborhood.
The community looks out from the southernmost part of
Osprey to Casey Key and is an ideal place for those
seeking an active lifestyle revolving around the water. This
one of kind location, is approximately 10 minutes south of
Siesta Key and 10 minutes north of Venice.

 

Property
Details
PROPERTY NAME: Villas of Osprey
PROPERTY ADDRESS: See Parcel Details
APN: See Parcel Details
LOT SIZE: 59,428 SF
LIVING AREA: 17,056 SF
GROSS AREA: 19,217 SF
ZONING: RMF2
NUMBER OF BUILDINGS: 8
NUMBER UNITS: 16
YEAR BUILT: 2000
NUMBER OF STORIES: 1
CONSTRUCTION: Masonry/Concrete Blk
ROOF SURFACE: Shingle
ROOF STRUCTURE: Hip and/or Gable
HVAC: Central AC/Heat
WATER/WASTE: City Water & Sewer
TRASH: Paid in RE Taxes
ELECTRIC: Paid by Tenants
CABLE/INTERNET: Paid by Tenants
WATER: Paid by Tenants
(separately metered) Listing provided by Naitampabay

 

Unit                                                       Hypothetical
Number   Term       Rent       PSF        Rent               Proforma PSF
1831         10/2017   $1,195 $1.12      $1,500                     $1.41
1835         10/2017   $1,195 $1.12      $1,500
1837          7/2018    $1,250 $1.17      $1,500
1839          8/2017    $1,195 $1.12      $1,500
1841          8/2017    $1,195 $1.12      $1,500
1845          2/2018    $1,195 $1.12      $1,500
1847            MTM    $1,250 $1.17      $1,500
1849        12/2017    $1,200 $1.13      $1,500
1851 (MGR) 1/2018 $845 $0.79         $1,500
1855          6/2017    $1,195 $1.12      $1,500
1857          3/2018    $1,195 $1.12      $1,500
1859          6/2017    $1,195 $1.12      $1,500
1861            MTM    $1,195 $1.12      $1,500
1865           9/2017   $1,195 $1.12      $1,500
1867         10/2017   $1,195 $1.12      $1,500
1869           5/2017   $1,095 $1.03      $1,500
Totals/Avg’s             $18,785 $1.10     $24,000                     $1.41

 

For more information or to register for potential purchase, please click here <———

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