Type: 3 bedroom Apartment
***Fort Myers, FL -SELLER LIQUIDATION!!!***
Beautifully Upgraded Condos starting at just $48,900!!
Live by the beautiful beaches of Ft. Myers and Captiva & Sanibel Islands!
11% Net Yields with Guaranteed Tenants into 2010!!
Overview:
Finally a buy-a-let investment returning double digit net yields in Southwest Florida within just minutes of Gulf Beaches. Built in 1991 of poured concrete construction this development is an A class property located on the busiest thoroughfare of Fort Myers, Florida which is the main economic city that supports Florida´s Gulf Coast. Due to its increasing population and employment, Fort Myers is the third fastest growing rental market in nation. With this prime location, residents are within a couple miles from Luxury Shopping at the Bell Tower Mall with shops including Saks Fifth Avenue, Fresh Market Grocery, Bell Tower 20 screen cinema, Ann Taylor, Banana Republic, William Sonoma, The Gap and a large mix of up market and casual restaurants. Additionally, this development within 5 minutes to South West Florida's brand new international airport, and lies within a one mile radius of the Gulf Coast Memorial Hospital and 5 Championship Golf and Country Clubs. (Legends Country Club, Fiddlesticks Country Club, Eagle Ridge Golf Club, Cross Creek Country Club, and Olde Hickory Country Club).
The property boasts 2 resort style pools with whirlpool spas, an expansive clubhouse, 2 lighted tennis courts, fitness center, tot lot, car care center, and picnic area complete with BBQ grills. We have a mixture of 1, 2 and 3 bed units available 70% off their original prices in 2006. Currently all units available are tenanted with many leases lasting through until mid 2010. On pure rental yields alone, this opportunity cannot be matched anywhere in Florida.
Investment Figures:
One Bed/One Bath - 831 Sq Feet
Total Purchase Price - $48,900
Monthly Rent - $760
Monthly HOA - $172
Monthly Property Taxes - $100
Monthly Management - $30
Net Monthly Cash Flow - $458 ($5496 Annually - 11.3% net yield )
Two Bed/Two Bath - 1165 Sq Feet
Total Purchase Price - $58,900
Monthly Rent - $950
Monthly HOA - $257
Monthly Property Taxes - $125
Monthly Management - $38
Net Monthly Cash Flow - $530 ($6360 Annually - 10.9% net yield)
Ameneties:
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Private club house
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2 tennis courts
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2 swimming pools
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Fitness studio
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Tot lot
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Heated spa
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Cabana barbecue pavillions
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Lush landscaping
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Gorgeous lake view
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Car care center
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Clothes care center
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5 minutes from Southwest Florida International Airport
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Easy beach and I-75 access
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Close to shopping, dining, schools
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Nearby golf courses
Please contact us for pricing and availability...
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