Multifamily
Palm Villas At The Port
147 Anchorage Ave, Cape Canaveral, FL 32920
Listing Price: $4,300,000
Investment Overview
SP Multifamily Group is pleased to offer to qualified investors, Palm Villas At The Port, a 32-Unit Multifamily Community located in Cape Canaveral, FL. The current owner has owned the asset for over 30 years, allowing for rental increases to competitive market rates in year 1 as a result of the artificially low rents in-place. Situated in a tourism-driven environment, Investors have the opportunity to operate the asset as Market-Rate Multifamily in its existing form, convert the units to Condos, or even operate the units as Short-Term Rentals depending on their ownership preference. Located in Florida’s Space Coast, Palm Villas At The Port is surrounded by major job hubs and economic powerhouses such as Kennedy Space Center, Port Canaveral, and Cape Canaveral Space Force Station.
Palm Villas At The Port
Investment Highlights
- 32-Unit Multifamily Community Consisting Of 1-Bedroom, 1-Bathroom Units Surrounded By The Booming Aerospace And Tourism Industry of the Space Coast.
- Due To Rents Being Artificially Low As A Result Of Long-Term Ownership (30+ Years), Investors Have The Unique Opportunity To Undergo A Major Rental Increase as Leases Turn.
- Amenities Include On-Site Laundry Facility, Private Backyards For Each Tenant, Assigned Parking Spots, And Utility Buildings On-Site For Extra Storage.
- Investors Also Have An Additional Opportunity To Implement A Flat-fee Water/Sewer/Trash Reimbursement System, As Normal For Multifamily Properties In This Area.
- Located In Cape Canaveral, Palm Villas at the Port Is Under 15-Minutes Away From Port Canaveral, Kennedy Space Center, Cocoa Beach, And Other Job/Entertainment Hubs Of The Space Coast
- There Is Also An Additional Opportunity To Convert The Units To Condos Or Operate Them As Short-Term Rentals For Tourists As Tourism Spending Accounts For Nearly $3 Billion In The Space Coast And Central Florida's Economy.
Exclusively Listed By
Financing By
Listing Price: $4,300,000
Investment Highlights
- 32-Unit Multifamily Community Consisting Of 1-Bedroom, 1-Bathroom Units Surrounded By The Booming Aerospace And Tourism Industry of the Space Coast.
- Due To Rents Being Artificially Low As A Result Of Long-Term Ownership (30+ Years), Investors Have The Unique Opportunity To Undergo A Major Rental Increase as Leases Turn.
- Amenities Include On-Site Laundry Facility, Private Backyards For Each Tenant, Assigned Parking Spots, And Utility Buildings On-Site For Extra Storage.
- Investors Also Have An Additional Opportunity To Implement A Flat-fee Water/Sewer/Trash Reimbursement System, As Normal For Multifamily Properties In This Area.
- Located In Cape Canaveral, Palm Villas at the Port Is Under 15-Minutes Away From Port Canaveral, Kennedy Space Center, Cocoa Beach, And Other Job/Entertainment Hubs Of The Space Coast
- There Is Also An Additional Opportunity To Convert The Units To Condos Or Operate Them As Short-Term Rentals For Tourists As Tourism Spending Accounts For Nearly $3 Billion In The Space Coast And Central Florida's Economy.
Investment Overview
SP Multifamily Group is pleased to offer to qualified investors, Palm Villas At The Port, a 32-Unit Multifamily Community located in Cape Canaveral, FL. The current owner has owned the asset for over 30 years, allowing for rental increases to competitive market rates in year 1 as a result of the artificially low rents in-place. Situated in a tourism-driven environment, Investors have the opportunity to operate the asset as Market-Rate Multifamily in its existing form, convert the units to Condos, or even operate the units as Short-Term Rentals depending on their ownership preference. Located in Florida’s Space Coast, Palm Villas At The Port is surrounded by major job hubs and economic powerhouses such as Kennedy Space Center, Port Canaveral, and Cape Canaveral Space Force Station.
Exclusively Listed By
Financing By
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