900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 Harbourside Sunsets Condo Portfolio Property Highlights: Year 1 Scheduled Income $274,800 Year 1 Cap Rate 10.29% Year 1 NOI $183,002 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728 [email protected]100UNITS.COM 617 EAST COLONIAL DRIVE, SUITE B ORLANDO, FL 32803
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Harbourside Sunsets Condo Portfolio€¦ · Harbourside Sunsets Condo Portfolio Property Highlights: Year 1 Scheduled Income $274,800 Year 1 Cap Rate 10.29% Year 1 NOI $183,002 JOE
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100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803
PROPERTY OVERVIEW
100Units.com presents Harbourside Sunsets Condo Portfolio, located right nearthe Iconic Daytona Beach Shores. This portfolio is 20 condo units out of the total of39 condo units in the property giving the buyer 51% ownership and control of theHOA. There is a total of 3 buildings consisting of 1 two-story building and 2three-story buildings. The unit mix is 14 two bed one bath units and 6 two bed twobath units. The two bedroom two bath units are water facing. This property wasbuilt of concrete block construction and features river access, a dock, and severalboat slips. The boat slips are owned by the HOA and are transient.Ideally located minutes from the Iconic Daytona Beach shores, under five minutesto Bethune Cookman University. Under twenty minutes to Daytona InternationalSpeedway, Daytona Beach Golf Club and Embry-Riddle Aeronautical University.Amazon is building their new Distribution Center just 5 miles away from theproperty.
100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803
All materials and information received or derived from 100Units.com its directors, officers, agents, advisors, affiliates and/or any third partysources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance orlack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projectedfinancial performance of the property for any party’s intended use or any and all other matters.
Neither 100Units.com its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as toaccuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source,whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence todetermine these and other matters of significance to such party. 100Units.com will not investigate or verify any such matters or conduct duediligence for a party unless otherwise agreed in writing.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspectionsand investigations including through appropriate third party independent professionals selected by such party. All financial data should beverified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independentprofessionals. 100Units.com makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financialdata or assumptions. 100Units.com does not serve as a financial advisor to any party regarding any proposed transaction. All data andassumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance.Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established ator increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancyfactors and other issues in order to determine rents from or for the property.
Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified publicaccountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition ofthe property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriateengineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by 100Units.com incompliance with all applicable fair housing and equal opportunity laws.
4FINANCIAL ANALYSIS
11PROPERT Y INFORMATION
16LOC ATION INFORMATION
22SALE COMPARABLES
26RENT COMPARABLES
31DEMOGRAPHICS
34100UNITS.COM
Harbourside Sunsets Condo Portfolio900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118
100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803
INCOME SUMMARY CURRENT PER UNIT YEAR 1 PER UNIT
TOTAL SCHEDULED INCOME $217,920 $10,896 $274,800 $13,740
VACANCY $10,896 $544 $13,740 $687
GROSS INCOME $207,024 $10,351 $261,060 $13,053
EXPENSE SUMMARY CURRENT PER UNIT YEAR 1 PER UNIT
Real Estate Taxes $12,886 $644 $14,508 $725
Liability Insurance $2,000 $100 $2,000 $100
Management Fee $7,008 $350 $8,640 $432
Repairs & Maintenance $4,550 $227 $4,550 $227
HOA Dues $79,200 $3,960 $43,200 $2,160
GROSS EXPENSES $105,644 $5,282 $72,898 $3,644
NET OPERATING INCOME $101,380 $5,069 $188,162 $9,408
OPERATING EXPENSE RATIO 51% 51% 28% 28%
Income & Expenses
HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118
FINANCIAL ANALYSIS
NOTE: Reduction of HOA dues is achieved by reduction in insurance cost effective 5/30/2020 and by the buyer sub metering the water (currently$60,000 annually of the HOA budget) and HOA billing back each unit.
100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803
LOCATION OVERVIEW
Branded as ‘The World’s Most Famous Beach’ and ‘The WorldCenter of Racing’ it’s easy to understand why Daytona Beachhas long been the location of choice among tourists as well asa business. NASCAR, International Speedway Corporation,Ladies Professional Golf Association (LPGA), the U.S. TennisAssociation (USTA) have all selected Daytona Beach for theircorporate headquarters.
Conveniently located just 51 miles northeast of Orlando, 86miles southeast of Jacksonville, and 242 miles northwest ofMiami Daytona’s moderate year-round temperatures, highlyskilled workforce, and low cost of living continues to make it astrong contender for a variety of businesses, includingtechnology, manufacturing, insurance, automotive, medical,military and land development.
The Daytona Beach region is experiencing groundbreakinggrowth. A definite advantage for personal and businessrelocation the area is home to six universities and colleges,state of the art hospitals, a nationally recognized K-12 system,a nationally accredited museum, an international airport, andtwo major interstate highways.
100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803
* Demographic data derived from 2010 US Census
POPULATION 1 MILE 3 MILES 5 MILESTOTAL POPULATION 4,974 41,254 104,991MEDIAN AGE 41.0 38.8 40.9MEDIAN AGE (MALE) 38.6 37.8 39.2MEDIAN AGE (FEMALE) 43.2 39.6 43.1
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILESTOTAL HOUSEHOLDS 2,245 17,509 44,026# OF PERSONS PER HH 2.2 2.4 2.4AVERAGE HH INCOME $42,561 $41,140 $43,129AVERAGE HOUSE VALUE $268,013 $197,685 $192,841
100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803
At 100Units.com, we know that selling and buying multi-family properties can be a challenging process. Not only can this process be time consuming, but it can also become increasingly costly – especially when you don’t have a trusted expert by your side. That’s why at 100Units.com, we are committed to providing our clients with the confidence and peace of mind that comes from working with a group of highly driven and passionate multifamily property investment advisors. Our specialized team simplifies the process of locating and purchasing apartment buildings by handling the research, analytics, and insights on your behalf. We take the time to evaluate your investment goals to help you attain the long-term success and results you want.
For Sellers Marketing Strategy We combine comprehensive market research, state-of-the-art technology, and communications systems to target optimal buyers for your property. From print to multimedia, we’ll customize a targeted campaign for your property that will maximize its value. Network of Buyers We work hard to earn the trust and confidence of buyers. In return, we have a vast network of domestic and international clients whom are always interested in purchasing additional properties. Clear Communication Communication is crucial for the success of any real estate transaction. As your listing agent, we will always keep you informed on the next step, what the other side is doing, and whether there are any red flags you should be concerned about. Proven Process Our objective as your multifamily advisor is to help you achieve your investments goals. We’ll lend you our unique perspective on your situation and provide you with real time market analysis to help you stay ahead of every changing market trends. We’ll also collect, study, evaluate, and share market data on an ongoing basis to help you make timely and informed decisions. From determining the listing price to conducting the closing, we’ll facilitate a smooth transaction for you.
For Buyers Expertise As well-established experts of the industry, we have a firm understanding of the local market and can advise you on the most potentially profitable properties available for purchase. Our focus is to work on behalf of your interests and get you the best results for your investment. Turnkey Solution Every real estate investor knows that the real work happens after closing. Our partnership with Florida Realty Investments ensures that every client has the comprehensive property management solutions they need to run their properties successfully. Opportunities As your multifamily advisor, our goal is to provide you with the insight and help you need to secure the best multifamily investment property. We take the time to determine your needs before identifying properties that can be considered for potential acquisition. We analyze market conditions, trends, and local competition to propose the best initial and counter-offers. From sourcing real estate investments and opportunities to protecting your financial interests during contract and closing, our team at 100Units.com will help you attain the best possible investment for your money.
at 100units.com
HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118