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Description

48 UNIT APARTMENT COMPLEX ON BEE RIDGE ROAD (RIDGE GARDENS APARTMENT HOMES) - Land Size: Approx 1.24 acres or 54,000 SF - Offered at $2,390,000 WITH AN NOI OF $187,000 - CLOSE TO AN 8 CAP!! - Zoning: RMF 4 (Residential Multi-Family) - Description: Ideal 1031 Exchange. Great cash flow (Currently 90% occupied with below market rents) - In Place Financing: $1.093 million non-recourse, assumable mortgage at 5.5% with a 5 year balloon, originated Nov 2010, 1% assumption fee - Unit Mix: 42 one bedroom units and 6 two bedroom units (complex has pool and laundry facilities) Building price details: $2,390,000.

Property Details

• Type: Multifamily
• Status: Available
• Year Built: 1964
• Buildings: 1

Map Locations