Multifamily

Silver Spray Village

201 Silver Spray Ln, Nokomis, FL 34275

Listing Price: $995,000

Cap Rate
5.01%
Number of Units
7
Occupancy
97.0%
Price/Unit
$142,143
Price/Gross SF
$157.99
Gross SF
6,298

Investment Overview

A rare offering of a 7-unit multifamily complex, Silver Spray Village is situated between Beach and Bay. This property has an owner who built it concrete block and above the flood plain (Outside the flood zone as well) and has maintained it with care. There is a true value add component here as the current owner does not chase market rents and simply renews his current tenants at substantially lower rates. Silver Spray Village also has the possibility to expand with additional units if density allows and possibly some amenities such as a pool, etc. This hideaway complex is perfect for the right buyer.

Investment Highlights

  • One Owner - Top Level Construction and Maintenance
  • Strong Location near Beaches and Shopping
  • Ample Greenspace allows tenant recreation
  • Highly Desirable Unit Mix
  • Possibility to build additional Units/Pool

Listing Price: $995,000

Cap Rate
5.01%
Number of Units
7
Occupancy
97.0%
Price/Unit
$142,143
Price/Gross SF
$157.99
Gross SF
6,298

Investment Highlights

  • One Owner - Top Level Construction and Maintenance
  • Strong Location near Beaches and Shopping
  • Ample Greenspace allows tenant recreation
  • Highly Desirable Unit Mix
  • Possibility to build additional Units/Pool

Investment Overview

A rare offering of a 7-unit multifamily complex, Silver Spray Village is situated between Beach and Bay. This property has an owner who built it concrete block and above the flood plain (Outside the flood zone as well) and has maintained it with care. There is a true value add component here as the current owner does not chase market rents and simply renews his current tenants at substantially lower rates. Silver Spray Village also has the possibility to expand with additional units if density allows and possibly some amenities such as a pool, etc. This hideaway complex is perfect for the right buyer.

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