Post on 03-Sep-2020
transcript
KW COMMERCIAL11 S Bumby Ave.,Suite 200Orlando, FL 32803
Two Fully Leased Duplexes (4 Units)
OFFERING MEMORANDUM
SUNNY GANDHISenior Associate0: 407.629.4420C: 321.945.4477Sgandhi@KWCommercial.com
PRESENTED BY:
3170 - 3178 SHINGLE CREEK CT KISSIMMEE, FL 34746
OFFERING MEMORANDUM
Each Office Independently Owned and Operated kwcommercial.com 2
OFFERING MEMORANDUM
Confidentiality & Disclaimer3170 - 3178 SHINGLE CREEK CT KISSIMMEE, FL 34746
All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness ,veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financialperformance of the property for any party’s intended use or any and all other matters.
Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy 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 to determine these and othermatters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence 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 inspections and investigations including through appropriate third party independentprofessionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KWCommercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercial does not serve as a financial advisor to any partyregarding any proposed transaction.
All data and assumptions 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 maybe provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as marketconditions,vacancy factors 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 acertified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies withapplicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed byOrlando Central in compliance with all applicable fair housing and equal opportunity laws.
KW COMMERCIAL11 S Bumby Ave.,Suite 200Orlando, FL 32803
PRESENTED BY:
SUNNY GANDHISenior Associate0: 407.629.4420C: 321.945.4477Sgandhi@KWCommercial.com
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors shouldconduct your own investigation of the property and transaction.
Each Office Independently Owned and Operated kwcommercial.com 3
OFFERING SUMMARY
SALE PRICE: $500,000
NUMBER OF UNITS: 4
CAP RATE: 6.15%
NOI: $30,761
LOT SIZE: 0.59 Acres
YEAR BUILT: 1984
BUILDING SIZE: 3,976
ZONING: RM-2
MARKET: Orlando MSA
PRICE / SF: $125.75
PROPERTY OVERVIEWThese fully leased duplexes located in the heart of Kissimmee are well maintained and consistently occupied. This propertycontains two duplexes (total of 4 separate rental units). Appealing to tenants, each unit contains its own laundry, screened-inporch, and plenty of backyard space.
PROPERTY HIGHLIGHTS• Fully leased & stable longterm tenants
• Well-maintained property, 2-years-old roof
• High rental demand in the area
• Two separate duplexes - 4 units
• All units metered separately
Executive Summary
TWO FULLY LEASED DUPLEXES (4 UNITS) |
Each Office Independently Owned and Operated kwcommercial.com 4
Additional Photos
TWO FULLY LEASED DUPLEXES (4 UNITS) |
Each Office Independently Owned and Operated kwcommercial.com 5
Location Maps
TWO FULLY LEASED DUPLEXES (4 UNITS) |
Each Office Independently Owned and Operated kwcommercial.com 6
Aerial Map
TWO FULLY LEASED DUPLEXES (4 UNITS) |
Each Office Independently Owned and Operated kwcommercial.com 7
INCOME SUMMARY FINANCIALS
Duplex 1 Unit A $10,140
Duplex 1 Unit B $10,200
Duplex 2 Unit A $10,200
Duplex 2 Unit B $9,600
Gross Income $40,140
EXPENSE SUMMARY FINANCIALS
Property Taxes $5,138
Maintenance $1,200
Insurance $2,264
Flood $776
Gross Expenses $9,378
Net Operating Income $30,761
Information provided in this analysis has been prepared from sources deemed to be reliable, but is not guaranteed to be a complete summary or statement of all available data necessary for making apurchase or investment decision. No representations or warranties are made by KW Commercial, 11 S. Bumby Avenue, Orlando, Florida 32803 as to the accuracy, completeness or implied futureperformance of the information provided.
Income & Expenses
TWO FULLY LEASED DUPLEXES (4 UNITS) |
Each Office Independently Owned and Operated kwcommercial.com 8
UNIT
NUMBER
UNIT
BED
UNIT
BATH
UNIT
SIZE (SF)
LEASE
START
LEASE
END
CURRENT
RENT
CURRENT
RENT (PER SF)
MARKET
RENT
MARKET
RENT/SF
2/2 2 2 994 03/16/2019 03/16/2020 $845 $0.85 $1,050 $1.06
2/2 2 2 994 04/04/2018 04/03/2020 $850 $0.86 $1,050 $1.06
2/2 2 2 994 02/16/2019 02/16/2020 $850 $0.86 $1,050 $1.06
2/2 2 2 994 01/01/2018 01/01/2020 $800 $0.80 $1,050 $1.06
Totals/Averages 3,976 $3,345 $0.84 $4,200 $1.06
Rent Roll
TWO FULLY LEASED DUPLEXES (4 UNITS) |
Each Office Independently Owned and Operated kwcommercial.com 9
3170 Shingle Creek Court | Kissimmee, FL 34746SUBJECT PROPERTY
1Kissimmee, FL34746
2826 OSPREY COVE PL, #104 2Kissimmee, FL34746
2810 OSPREY COVE PL, #103 3Kissimmee, FL34746
1058 S HOAGLAND BLVD #1058, 4Kissimmee, FL34746
2850 OSPREY COVE PL, #202
5Kissimmee, FL34744
1888 KATZ CROSSING DRIVE
Rent Comps Map
TWO FULLY LEASED DUPLEXES (4 UNITS) |
Each Office Independently Owned and Operated kwcommercial.com 10
Subject Property3170 Shingle Creek Court | Kissimmee, FL 34746
1984Year Built: 0.59 AcresLot Size: 4No. Units:
994 SFAvg. Size: $0.84Avg. Rent/SF: $836Avg. Rent:
1
2826 OSPREY COVE PL, #104Kissimmee, FL 34746
$1.23 SF/monthLease Rate: SFSpace Size: 1,136 SFBldg Size:
2000Year Built: 1,306 SFLot Size:
Condominium asking lease rate: 1,400
1
2
2810 OSPREY COVE PL, #103Kissimmee, FL 34746
$1.16 SF/monthLease Rate: SFSpace Size: 1,035 SFBldg Size:
1997Year Built: 1,035 SFLot Size: 12 monthsLease Term:
Condominium leased for $1,200
2
Rental Rate PSF/Monthly Comps
TWO FULLY LEASED DUPLEXES (4 UNITS) |
Each Office Independently Owned and Operated kwcommercial.com 11
3
1058 S Hoagland Blvd #1058,Kissimmee, FL 34746
$1.00 SF/monthLease Rate: SFSpace Size: 1,000 SFBldg Size:
1986Year Built: 1,000 SFLot Size: 12 monthsLease Term:
Townhouse leased for $1,000
3
4
2850 OSPREY COVE PL, #202Kissimmee, FL 34746
$1.16 SF/monthLease Rate: SFSpace Size: 1,136 SFBldg Size:
2000Year Built: 1,261 SFLot Size:
Condominium leased for $1,450
4
5
1888 Katz Crossing DriveKissimmee, FL 34744
$1.01 SF/monthLease Rate: SFSpace Size: 1,583 SFBldg Size:
2018Year Built: 2 SFLot Size: 12 monthsLease Term:
Townhouse leased for $1,600
5
Rental Rate PSF/Monthly Comps
TWO FULLY LEASED DUPLEXES (4 UNITS) |
Market Analysis SummaryListings as of July 29, 2019 2:58 pm
Income
ACT
Photo ADOMMLS # CDOMZip Units# Address Subdivision Prop Style Zoning H SqFt LP/H SqF List Price
1661 Hope St,
INTERCESSION
CITY
$114,900 148$145 424S5014256 33848 2 14Duplex RS-2COX RUDD
ADD
7921
309-311 Caldbeck
Way #1-2,
KISSIMMEE
$265,900 43$126 43S5016630 34758 2 11Duplex OPUDPOINCIANA
VILLAGE 01
NEIGHBORH
OOD 01
NORTH
2,1122
318 Rosland Dr,
KISSIMMEE
$299,950 217$164 217O5753489 34741 2 4Duplex KRA4WOODALL &
DOYLE
1,8293
3170 Shingle Creek
Ct #3178,
KISSIMMEE
$500,000 3$126 3O5800704 34746 4 34Duplex ORM2SHINGLE
CREEK
VILLAGE
TERRACE
3,9764
5800 S Orange
Blossom Trl,
INTERCESSION
CITY
$850,000 172$241 172O5762391 33848 1 4Quadruplex ORM2ACREAGE &
UNREC
3,5265
# LISTINGS:
117$406,150
5
2,447 $160 172
3$114,900792 $126 3
217$850,0003,976 $241 424
2
4
1
2 1482,112 $145 172$299,950
MIN VALUES:
MAX VALUES:
AVG VALUES:
MED VALUES:
PND
Photo ADOMMLS # CDOMZip Units# Address Subdivision Prop Style Zoning H SqFt LP/H SqF List Price
3140 Shingle Creek
Ct, KISSIMMEE
$490,000 16$120 16O5777963 34746 4 4Quadruplex ORM2SHINGLE
CREEK
VILLAGE
TERRACE
4,0681
108 N Vernon Ave,
KISSIMMEE
$550,000 313$168 313O5708307 34741 7 20Five or More KRB2PATRICKS
ADD
3,2802
# LISTINGS:
165$520,000
2
3,674 $144 165
16$490,0003,280 $120 16
313$550,0004,068 $168 313
6
7
4
6 1653,674 $144 165$520,000
MIN VALUES:
MAX VALUES:
AVG VALUES:
MED VALUES:
SLD
Photo ADOMSold DtMLS # CDOMZip Units SP# Address Subdivision Prop Style Zoning H SqFt LP/H SqF List Price SP/H SqF SP/LP
Presented By: Sunny Gandhi, PLLC
This is an opinion of value or Comparative Market Analysis and should not be considered an appraisal . In making any decision that relies upon my work, you should know that I have not followed the guidelines for
development of an appraisal or analysis contained in the Uniform Standards of Professional Appraisal Practice of the Appraisal Foundation .
Copyright © 2019 CoreLogic. All rights reserved.
Market Analysis SummaryListings as of July 29, 2019 2:58 pm
Income
SLD
Photo ADOMSold DtMLS # CDOMZip Units SP# Address Subdivision Prop Style Zoning H SqFt LP/H SqF List Price SP/H SqF SP/LP
402 Rosland Dr,
KISSIMMEE
$200,000 7$109 05/14/19 7O5778588 34741 $1012 13Duplex KRA4WOODALL &
DOYLE
1,829 0.92$184,1501
416 S Clyde Ave,
KISSIMMEE
$263,900 134$139 04/30/19 134S5008083 34741 $1312 17Duplex KRB1W A
PATRICKS
ADD
1,899 0.94$249,0002
1905 Kelley Ave,
KISSIMMEE
$265,000 3$121 02/15/19 3S5012745 34744 $1213 14Triplex KRA2M YINGLINGS
CSWY
DOOPS
2,185 1.00$265,0003
325 Sherborne Ln,
KISSIMMEE
$299,900 43$126 07/05/19 43O5778152 34758 $1132 3Duplex OPUDPOINCIANA
NBHD 1 N
VLG 1
2,383 0.90$270,0004
# LISTINGS:
47$257,200
4
2,074 $124 47$117
3$200,0001,829 $109 3$101
134$299,9002,383 $139 134$131
2
3
2
0.94
1.00
0.90
$242,038
$270,000
$184,150
2 252,042 $124 25$264,450 $117 0.93$257,000
MIN VALUES:
MAX VALUES:
AVG VALUES:
MED VALUES:
Property Type is 'Income' Status is 'Active' Status is one of 'Pending', 'Withdrawn Conditional', 'Sold', 'Expired' Status Contractual Search Date is 07/29/2019 to 01/30/2019 Latitude, Longitude is around
28.26, -81.46 State is 'Florida'
Presented By: Sunny Gandhi, PLLC
This is an opinion of value or Comparative Market Analysis and should not be considered an appraisal . In making any decision that relies upon my work, you should know that I have not followed the guidelines for
development of an appraisal or analysis contained in the Uniform Standards of Professional Appraisal Practice of the Appraisal Foundation .
Copyright © 2019 CoreLogic. All rights reserved.