offering memorandum two fully leased duplexes (4 units) · 2019. 7. 29. · patricks add 2 1,899...

KW COMMERCIAL11 S Bumby Ave.,Suite 200Orlando, FL 32803

Two Fully Leased Duplexes (4 Units)

OFFERING MEMORANDUM

SUNNY GANDHISenior Associate0: 407.629.4420C: [email protected]

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: [email protected]

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.

http://www.kwcommercial.com


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) |



Additional Photos




Location Maps




Aerial Map




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




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




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




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



1997Year Built: 1,035 SFLot Size: 12 monthsLease Term:

Condominium leased for $1,200

2

Rental Rate PSF/Monthly Comps




3

1058 S Hoagland Blvd #1058,Kissimmee, FL 34746


1986Year Built: 1,000 SFLot Size: 12 monthsLease Term:

Townhouse leased for $1,000

3

4



2000Year Built: 1,261 SFLot Size:

Condominium leased for $1,450

4

5

1888 Katz Crossing DriveKissimmee, FL 34744


2018Year Built: 2 SFLot Size: 12 monthsLease Term:

Townhouse leased for $1,600

5

Rental Rate PSF/Monthly Comps



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.

Gurvinder Gandhi

Gurvinder Gandhi

Gurvinder Gandhi

Gurvinder Gandhi

Gurvinder Gandhi

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.

Gurvinder Gandhi

Gurvinder Gandhi

offering memorandum two fully leased duplexes (4 units) · 2019. 7. 29. · patricks add 2 1,899...

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