Multifamily
Kennedy Court Apartments
1111 Kennedy Ct, Titusville, FL 32780
Listing Price: $8,500,000
Investment Overview
A 64-unit, garden-style multifamily community in Titusville, FL with majority two-bedroom units. Seller has an attractive Fannie Mae loan at a 4.65% rate which can be assumed by a qualified buyer.
Kennedy Court Apartments
Investment Highlights
- A 64-unit, garden-style multifamily community in Titusville, FL
- Attractive Fannie Mae loan at a 4.65% rate with 7 years remaining on the loan which can be assumed by an experienced and qualified buyer
- Unit mix consists of 97% two-bedroom units
- Seller has spent nearly $1.4 million in upgrades and improvements since acquiring the property
- Upgrades Include but are not limited to new kitchens, appliances, flooring, bathrooms in all units, as well as significant exterior improvements (full list of cap-ex can be found in the document vault)
- Pathway to increase NOI by 38.73% by year two by marginally increasing rents $216 on average over the next two years, while also implementing RUBs to decrease tenant water/sewer consumption and also recapture utility expense
- Property is operating at over 95% economic occupancy on the seller's T-12
- Amenities include an on-site leasing office, lounge, laundry facilities, private fenced patios for each unit, spacious green area with a dog park, grilling stations and a gated entry requiring an access code to ensure tenant privacy and security
Exclusively Listed By
Financing By
Investment Highlights
- A 64-unit, garden-style multifamily community in Titusville, FL
- Attractive Fannie Mae loan at a 4.65% rate with 7 years remaining on the loan which can be assumed by an experienced and qualified buyer
- Unit mix consists of 97% two-bedroom units
- Seller has spent nearly $1.4 million in upgrades and improvements since acquiring the property
- Upgrades Include but are not limited to new kitchens, appliances, flooring, bathrooms in all units, as well as significant exterior improvements (full list of cap-ex can be found in the document vault)
- Pathway to increase NOI by 38.73% by year two by marginally increasing rents $216 on average over the next two years, while also implementing RUBs to decrease tenant water/sewer consumption and also recapture utility expense
- Property is operating at over 95% economic occupancy on the seller's T-12
- Amenities include an on-site leasing office, lounge, laundry facilities, private fenced patios for each unit, spacious green area with a dog park, grilling stations and a gated entry requiring an access code to ensure tenant privacy and security
Investment Overview
A 64-unit, garden-style multifamily community in Titusville, FL with majority two-bedroom units. Seller has an attractive Fannie Mae loan at a 4.65% rate which can be assumed by a qualified buyer.
Exclusively Listed By
Financing By
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
