Investment Summary

• The Buttonwood Cottages offers an investor six total units in 4 concrete block buildings. All units are highly desired 2 Bedrooms / 1 Bathroom. Prospective purchasers are encouraged to visit the subject property prior to submitting offers. However, all property tours must be arranged with the Dreznin Pappas commercial real estate listing agent. At no time shall the tenants, on-site management or staff be contacted without prior approval.
• New ownership has done all the heavy lifting for Investors, including; Updated Electrical New Plumbing New Tankless Water Heaters
• Continued Improvements; New Kitchen with slow close cabinets and Quartz countertops New Stainless Appliances New Flooring throughout
• The roofs have been replaced within the past 10 years and have been maintained and cared for the property well over the previous 25+ years of ownership.
• The property has substantial value add characteristics and offers approx $450+ /mo per unit increase in rents not including potentially passing through the costs of Water/Sewer to the tenants.
• Superior walkability; situated less than one mile to Downtown Dunedin and 1/2 mile to TD Ballpark, spring training home of Toronto Blue Jays
• Our synopsis of the Buttonwood Cottages and the market moving forward is this; Concerns; @ While rates may come down here and there, overall current rates today are around 7% to 8% which make a purchase through a traditional lender difficult unless a substantial amount of equity is brought to the deal by the buyer. Something along the lines of a 65-35 LTV ratio. @ Insurance - Not a lot to say here today. Its difficult to bind and difficult to stomach the costs in todays world, but its necessary whether achieving a loan through a bank or seller financing. A little easier with seller financing. @ Inflation - General cost of all things. Whether from the tenants and willingness to pay higher rents or from the owners who have to pay more for repairs, labor, increasing operating costs, etc. @ Finally, Buyers appetites for investment properties around a Sub 6% return. This interest has thinned considerably and most buyers expect a stronger return at takeover. There are still some buyers whose main concern isn't just day 1 return but can see a longer term hold and positive runway.
• Our synopsis of the Buttonwood Cottages and the market moving forward is this; Positive Notes; @ Fantastic location @ Hard work is done as you've given a year and hundreds of thousands of dollars to complete @ There is a small amount of room to raise the asking price before putting in front of investors, but please note that eclipsing the $300k per door level will create skepticism with some investors. @ There is a story here that is easy to tell, positive for where you've taken the property and where a new buyer can continue to take the asset, if you decide to sell.