Multifamily
Executive Estates & River Heights Apartments
5644 Grand Blvd, New Port Richey, FL 34652
Listing Price: $4,400,000
Cap Rate
6.73%
GRM
8.34
Investment Overview
A 40-unit two-property value-add portfolio in New Port Richey, Florida (Tampa Bay MSA)
Executive Estates & River Heights Apartments
Investment Highlights
- A 40-unit two-property value-add portfolio in New Port Richey, Florida (Tampa Bay MSA)
- Properties located only a half mile apart: Executive Estates – 20 two-bedroom, one-bathroom units & River Heights – 20 one-bedroom, one-bathroom units
- Massive upside with 30% increase in Effective Gross Income achievable by end of Year Two via unit interior and common area improvements
- Concrete block construction
- Brand new 2025 roofs at River Heights, one new roof at Executive Estates
- Laundry facilities on-site at both properties
- Attractive assumable debt available: 40 year amortization, interest only, 4.74% interest rate, 40.66% LTV
- Just three miles to Green Key Beach situated on Florida's glorious Gulf of Mexico
Exclusively Listed By
Financing By
Investment Highlights
- A 40-unit two-property value-add portfolio in New Port Richey, Florida (Tampa Bay MSA)
- Properties located only a half mile apart: Executive Estates – 20 two-bedroom, one-bathroom units & River Heights – 20 one-bedroom, one-bathroom units
- Massive upside with 30% increase in Effective Gross Income achievable by end of Year Two via unit interior and common area improvements
- Concrete block construction
- Brand new 2025 roofs at River Heights, one new roof at Executive Estates
- Laundry facilities on-site at both properties
- Attractive assumable debt available: 40 year amortization, interest only, 4.74% interest rate, 40.66% LTV
- Just three miles to Green Key Beach situated on Florida's glorious Gulf of Mexico
Investment Overview
A 40-unit two-property value-add portfolio in New Port Richey, Florida (Tampa Bay MSA)
Exclusively Listed By
Financing By
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