Commercial Property for Sale in 3680 Florida 32310

Property Description

BUILDING #7 OF THE CAMDEN CORNERS DEVELOPMENT CONSISTS OF 7 (THREE BEDROOM/THREE BATHROOM) CONDOMINIUMS LOCATED IN THE HEART OF TALLAHASSEE, FL! THIS NEW DEVELOPMENT, BUILT IN 2020, IS THE PERFECT INVESTMENT OPPORTUNITY FOR A BUYER LOOKING TO ACQUIRE A 7-UNIT BUILDING IN THE STATE CAPITAL THAT WILL STAY RENTED ALL YEAR LONG! THIS SALE INCLUDES 6 UNITS IN BUILDING #7 AND 1 UNIT IN BUILDING #2 INSIDE THE GEORGOUS CAMDEN CORNERS DEVELOPMENT! THE SELLER IS OFFERING AMAZING SELLER FINANCING, WHICH MAKES THIS DEAL EVEN BETTER (SEE P.5 FOR FULL DETAILS)! APPROXIMATE SELLER FINACING TERMS ARE AS FOLLOWS: $300,000 DOWN - $360,000 (4.5%-6%) FIXED IR. INTEREST-ONLY PAYMENTS AND A 4-YEAR BALLOON.

EACH UNIT HAS BEEN CAREFULLY CRAFTED TO INCLUDE THE FINEST FINISHES AND TOP-NOTCH AMENITIES! THE BUILDING IS CURRENTLY 100% OCCUPIED WITH BELOW-MARKET RENTAL RATES, GIVING THE BUYER A MASSIVE UPSIDE TO RAISE THE RENTAL RATES! DUE TO MOST OF THE CURRENT LEASES COMING DUE IN THE NEXT 3-6 MONTHS, A BUYER CAN INSTANTLY INCREASE THE RENTAL RATES AND THEIR NOI! SIMILAR 3-BEDROOM/3-BATHROOM UNITS IN THIS AREA ARE RENTING FOR AS MUCH AS $200-$250 PER MONTH MORE THAN THE CURRENT IN-PLACE RENTS!

THIS AMAZING OPPORTUNITY ALSO PROVIDES RETURNS THAT MATCH IT'S ELABORATE INTERIORS! BUILDING #7 AT CAMDEN CORNERS BOASTS AN IN-PLACE CASH-ON-CASH RETURN OF APPROXIMATELY 10%, AND A BUYER CAN OBTAIN A CASH-ON-CASH RETURN OF OVER 12.2% BY 2026! THIS AMAZING ASSET CAN BE EASILY MANAGED FROM OUT OF STATE OR BY A LOCAL INVESTOR!

SELLER FINANCING APPROXIMATE TERMS:

DOWN PAYMENT: $300,000- $360,000!

FIXED INTEREST RATE: Year 1 (4.5%), Year 2 (5%), Year 3 (5.25%), Year 4 (6.0%).

INTEREST-ONLY PAYMENTS OR

AN AMORTIZATION OF 30 YEARS

BALLOON LENGTH: 4-YEARS

THE APPROXIMATE DEBT SERVICE IS AS LOW AS $3,375 PER MONTH!

Location Description

THE PROPERTY IS LOCATED DIRECTLY ACROSS FROM THE FSU SPORTSPLEX, RIGHT AROUND THE CORNER FROM INNOVATION PARK AND THE FAMOUS NICKLAUS GOLF COURSE.