Multifamily
Bay Point Apartments
102 Palmetto Rd E, Nokomis, FL 34275
Listing Price: $1,425,000
Cap Rate
7.99%
GRM
7.25
Investment Overview
A 13-unit multifamily community in Nokomis, FL (Sarasota MSA) . In-Place Cap Rate: 7.99% cap rate at acquisition provides immediate yield.
Bay Point Apartments
Investment Highlights
- A 13-unit multifamily community in Nokomis, FL (Sarasota MSA)
- In-Place Cap Rate: 7.99% cap rate at acquisition provides immediate yield
- Pro Forma Cap Rate: Projected to reach 9.84% by Year 2 through strategic rent increases and minor operational efficiencies
- Capital Improvements: Over $195,816 invested recently in unit and property upgrades, minimizing near-term maintenance costs
- Unit Mix: 13 units with efficient layouts that appeal to the local renter demographic
- New Major Systems: Recent replacements include water heaters, HVAC systems, updated kitchens, and a full roof replacement in 2020
- On-Site Laundry: Amenity offers additional income and convenience for tenants
- Prime Location: Adjacent to US-41 with excellent drive-by exposure and just minutes to Venice Beach and downtown Sarasota
Exclusively Listed By
Investment Highlights
- A 13-unit multifamily community in Nokomis, FL (Sarasota MSA)
- In-Place Cap Rate: 7.99% cap rate at acquisition provides immediate yield
- Pro Forma Cap Rate: Projected to reach 9.84% by Year 2 through strategic rent increases and minor operational efficiencies
- Capital Improvements: Over $195,816 invested recently in unit and property upgrades, minimizing near-term maintenance costs
- Unit Mix: 13 units with efficient layouts that appeal to the local renter demographic
- New Major Systems: Recent replacements include water heaters, HVAC systems, updated kitchens, and a full roof replacement in 2020
- On-Site Laundry: Amenity offers additional income and convenience for tenants
- Prime Location: Adjacent to US-41 with excellent drive-by exposure and just minutes to Venice Beach and downtown Sarasota
Investment Overview
A 13-unit multifamily community in Nokomis, FL (Sarasota MSA) . In-Place Cap Rate: 7.99% cap rate at acquisition provides immediate yield.
Exclusively Listed By
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