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The Multifamily Firm Brokers Apartment Building Sale in Englewood, Florida

The Multifamily Firm Brokers Apartment Building Sale in Englewood, Florida

June 16, 2021


The Multifamily Firm is proud to announce the sale of the Palm Harbor Villas in the Englewood, Florida Sub-Market of Cape Haze. The transaction was an all-cash deal with a short 7-day due diligence period and ultimately closed at the contract price of $400,000 within 16 days of contract execution. Through a rigorous National marketing campaign, the offering generated multiple offers, 206 registered buyers from 30 States, and ultimately sourced a new to market cash buyer.

The Palm Harbor Villas sale consisted of 4 units in 2 wood-frame buildings built in 1984 on 1 parcel of approximately 0.34 acres of land. The offering was a classic value-add opportunity with staggering upside potential of $475/month/unit for the two-bedroom units and $313/month/unit for the one-bedroom units. The property features a favorable unit mix of 50% two-bedroom units with washer/dryer hookups in all units and screened-in lanai’s in all two-bedroom units. Additionally, all the units are separately metered for water & electric, and each building is equipped with highly resilient metal roofs.

The Palm Harbor Villas are located on the West Coast of Florida in Charlotte County, in between Sarasota/Venice to the North and Fort Myers to the South. The location is approximately 10-15 minutes from the Historic Dearborn Street, Manasota Key, Englewood Beach and Boca Grande. A “boaters paradise” the property is within walking distance of 2 resort-like marinas and the Palm Island Ferry & Water Taxi, providing direct access to the Rum Bay Restaurant on Don Pedro Island aka “Palm Island”.

The marketing & sale of the property was brokered by Phil Ginexi & Kyle Keelan of The Multifamily Firm. For additional information regarding the sale and/or upcoming offerings, contact us directly to join our distribution list for new exclusive listings!

ENGLEWOOD, FL APARTMENT BUILDING SALE HIGHLIGHTS:

  • Sale Price: $400,000
  • All Cash Deal w/ a Short 7-Day Due Diligence Period
  • Sourced a New to Market Cash Buyer that Closed at the Contract Price Inside of 16 Days of Contract Execution
  • Rigorous National Marketing Campaign that Generated Multiple Offers & 206 Registered Buyers from 30 States
  • Consisted of 4 Units in 2 Wood-Frame Buildings Built in 1984 on 1 Parcel of Approx. 0.34 Acres
  • Staggering Upside Potential of $475/Month/Unit for the Two-Bedroom Units & $313/Month/Unit for One-Bedroom Units
  • Located Approx. 10-15 mins from the Historic Dearborn Street, Manasota Key, Englewood Beach and Boca Grande in Charlotte County