By Sunny Isles Real Estate Expert on August 20th, 2008
has proven over decades to be consistent and stable,
even in down markets. Today’s investors are going back to conservative
projects and the market has shown that there are opportunities.
Despite rising real estate
concerns across the country, property investors
continue finding creative ways to make their investment dollars work for
them. The time is now to find your ideal investment!
One such business opportunity
is in Sunny Isles Beach, Florida. Here is your chance to own a brand new, 17 units apartment building across the street from the ocean. It’s a superb location for short term rentals as well as longer term leases. This developement is perfect for European and Canadian Tourists, Corporations and anyone looking to be within 2 minutes waking distance from the top beaches, or to be able to accomodate 4 people or more and be able to user their own kitchen. Perfect way to spend a vacation with your family in the famous “Venice of America” new American Rivera called Sunny Isles Beach.
On the very conservative side
if we charge between $180 per night – $220 per night in a low season and between $220 – $300 per night in high season, we can show you how this venture would return over 20% ROI. There will be one employee needed for housekeeping and general cleaning, plus one handy person on call as in independent for general fixing. Appliances as well as the elevator are still warranted. There is no reception desk needed, check in will be handled by management. Daily cleaning will be offered for extra charges, security deposits will be taken and only released when unit inspected after check out.
Management and Marketing
Property Management will be handled by Sunny Realty Of South FLorida and the Kronus Realty Group.
Two bedrooms rates are based on $200 p/n and 70% occupancy.
Three bedrooms rates are based on $240 p/n and 70% occupancy.
The project should be on the books for 5 – 7 years, there are two possibilities to sale the property.
1. Property will be offered based on net income and CAP rate, this can range between $6,5Mio – $7,5Mio or higher depending on Net Income.
2. Second option is to sale off units individually based on market conditions.