Type: 2 bedroom
TAMPA FLORIDA DISTRESSED CONDOS FROM $59,900
10% NET CASH ON CASH RETURNS
GUARANTEED TENANTS IN PLACE THROUGH LATE 2010
OVER 70% DISCOUNT FROM PEAK PRICING
Attention Investors:
Below is a deal that we have negotiated with the sellers based on a bulk purchase. In December 2009, this property was completely locked up to a bulk buyer purchasing the remaining 125 units. Due to the buyers inability to arrange financing, the deal has fallen through and has been offered to us based upon minimum 20 unit purchase. You will see below the list of 20 units allotted to us at significantly reduced price levels. The property was built in 1996 of concrete block construction and is a Class A condo development located in the rapidly growing New Tampa area. The development is located less than 5 miles from the university of South Florida. Founded in 1956, University of South Florida is the ninth-largest university in the USA and the third largest in the state of Florida, with a total enrollment of 46,174 as of the fall 2008 semester. As you can see from the rent roll, the rents achieved in the immediate area are very stable and as the New Tampa area continues to expand, property values will only rise. This is an opportunity to enter into the distressed Florida Property Market at bulk pricing along with locking in a 10% net return on capital.
Overview:
The City of Tampa is the largest city in Hillsborough County, is the county seat and is the third most populous city in Florida. It is located on the west coast of Florida, approximately 200 miles northwest of Miami, 180 southwest of Jacksonville, and 20 miles northeast of St. Petersburg. The population of the city represents approximately one-third of the total population of Hillsborough County. Tampa´s economy is founded on a diverse base that includes tourism, agriculture, construction, finance, health care, government, technology, and the port of Tampa. Contributing to the success of our community is the way businesses, City government, and citizens work together to make Tampa a better place to live.
New Tampa :
New Tampa has seen extraordinary growth in the past few years. The population rose from 7,145 residents in 1990 to 26,634 in 2000, an increase of 19,489 or 272.7%. The population is now estimated at 37,350 as of 2005. New Tampa is accounting for 52% of Tampa´s citywide growth and is expected to continue. Housing units increased by 850 between 2004 and 2005 to a total of 15,340 and many new subdivision are being built which is causing the extraordinary growth.
New Tampa is bounded by Lutz to the west, Wesley Chapel to the north, Morris Bridge Road (near Thonotosassa) to the east, and the University community and theUniversity of South Florida to the south.
Residential Amenities
Each residence offers you exclusive membership to the "Tiffany Club", a private resident-only center featuring:
· First-Class Concierge Service
· State-of-the-Art Health Club
· Weekly Fitness Classes
· Designer Catering Kitchen
· Social Bar
· Media & Entertainment Lounge with Plasma Screen
· Indoor Air-Conditioned Racquetball Court
Residential Amenities Also Include:
· Gated Entry
· Designated Pet Walk
· Car Care Center
· South-Beach Inspired Pool Deck With Surround Sound
· Bubbling Serenity Spa
· Lighted Tennis Court
· Valet Disposal Service
· Remote Access Garages Available*
Interior Amenities
· 20x20 Porcelain Tile on the Diagonal*
· 9 & 10 Foot Ceilings with Crown Molding
· Intrusion Alarms
· Screened Lanais**
· Tile Tub Surrounds
· Fire Protection System
· Ample Walk In Closets
· Gourmet Kitchens
· Above-Center Microwaves
· Designer Custom Cabinet Doors
· Double Sink in Kitchen
· Breakfast Bar
· Full Size Washer and Dryer
Investment Figures:
2 bed/2 bath - B1 Floor Plan
Monthly Rental - $1000
Monthly HOA - $220
Property Taxes - $100
Rent management - $80
Monthly Net Income - $600 ($7200 per annum or 10% net return)
Please contact us for pricing and availability...
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