Investment Apex

• DPCRE LLC is proud to present an opportunity to acquire a rarely offered asset in a premium location. * OWNERSHIP WILL CONSIDER SELLER FINANCING * For further information, communications with the listing agent and an executed CA will be required. Prospective purchasers are encouraged to visit the subject properties prior to submitting offers. However, all property tours must be arranged with the exclusive Dreznin Pappas Commercial Real Estate agents. At no time shall the tenants, on-site management or staff be contacted without prior approval.
• Most of the words you want to hear are used to describe this complex. Concrete Block Construction New Roof (July 2023) Large Unit Mix (8) Two Bedroom/Two Bath Units Newer HVAC Units Under Market Rents Value-Add exists Separate Electric Water/Sewer Passthrough possible
• This is a value-add opportunity with current rents well below the median rates and the ability of a new buyer to capitalize on the gap between in-place and market rates. They do not make apartment buildings like this anymore! Trophy assets with strong historic occupancy rates and significant upside potential with the implementation of a modern interior cosmetic updates. Additional arenas of monetization exist including, storage units onsite, carport parking options, coin-op laundry, pet fees, etc
• Positively positioned with the location per FEMA's website being located in a Non-Flood ('X') zone. Well maintained with ownership highlighting improvements such as new roofing, newer HVAC's, interior improvements (partial updates such as some flooring, kitchens, bathrooms and painting)
• Tremendous opportunity to capitalize on the proximity to Siesta Key Beach by repositioning the asset from apartments to vacation rentals (check with county to see recent VRBO regulations and updates) Extensive Interior / Exterior renovation completed in 2021 | Average Single-Family Home Sale Price of $1,300,000 within 1 mile radius