Florida Multi-Family Apartment Buildings for Sale

Fred Hoffmann Lic. Real Estate Broker

FirstTrust Realty, Inc. Licensed Real Estate Brokerage Telephone (386) 252-5500 (Florida)

FOR SELLERS

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FOR BUYERS

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CLIENT DISCLOSURE

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ANALYSIS RATIOS

Lender Ratings of Residential Multi-Family Investment Properties Lenders have developed general classifications of apartment buildings so that they can communicate amongst themselves and other members of the industry with some level of uniformity. The classifications are Class A, Class B, Class C, and Class D. Grade 1. Class A .... Newer, Institutional Grade 2. Class B .... Older, Institutional Grade 3. Class C .... Older, Declining Area Grade 4. Class D .... Older, Declining Area, Poor Condition Class A - Institutional buyers like new, larger apartments in prime locations because of low deferred maintenance. These properties are typically occupied by white collar workers and have amenities such as garages, in -unit washer/dryers, pools, spas, exercise gyms, the latest technology, etc. They are typically between 1-10 years old. Typically they are in the path of progress. CAP rates may be around 5% - 7%. They will likely have less cash flow than properties with higher cap rates but will have greater appreciation potential. Class B - Located in good areas with many of the same amenities as Class A properties, but Class B buildings are 10-20 years old and occupied by both white and blue collar workers. Class B properties are often owned by investment groups, such as limited partnerships and limited liability companies. CAP rates may be around 8% - 9%. These properties will have decent cash flow and decent appreciation potential. Class C - These are older properties built within the last 21-30 years in working class areas typically occupied by blue collar workers and even some Section 8 tenants. The properties may be in declining areas but not necessarily dangerous areas. The units in Class C buildings are smaller than those in Class A and B buildings and the projects have fewer amenities. The occupancy rates are typically higher than Class A or B because they are more affordable. Individuals usually own Class C properties. CAP rates may be around 10%. These properties will have decent cash flow but little opportunity for appreciation. Class D - These buildings are older, in declining and even dangerous areas and as a result may have high vacancy rates, deferred maintenance, functional obsolescence and demand a high level of hands-on management from their individual owners. Pro-forma (estimated future) CAP rates 12% - 20% after fix-up, but may generate less income than other properties despite their higher cap rates because of higher initial repairs, refurbishing, maintenance and management demands. Rules of Thumb: 1. Class A & Class B properties are purchased for appreciation potential. 2. Class B & Class C properties are purchased for cash flow. 3. Class D properties are most suitable for an experienced investor with the expectation of repairing and refurbishing the property.

Multi-Family Apartments for Sale in Florida Call for information on Apartments in other sizes

Property #	Units	Florida Apartment Buildings for Sale	CAP %	$ Unit	Occup- ancy-%	Lot Acres	Map Color	Price	Agent / Phone
A903681	120±	APARTMENTS - Built 1975, concrete block construction, 2-story, no deferred maintenance, all units are 2-bedrooms/1-1/2 bathroom, gated entry, tennis and basketball courts, laundry, swimming pool, playground. Each unit has private patio, central HVAC, open floor plan, ceiling fans, walk-in closets. New exterior paint and parking lots sealed, all roofs replaced within last 3-years. NOI $435,000.	%	47K	95%	7.5Ac	West Central Fla	$5,600,000
A624581	300±	APARTMENTS - Class B, built 1972, concrete block construction, 2-story, indoor swimming pool, recreation area, gated community, swimming pools, fitness room, clubhouse, flat mansard roofs, renovated 2010. NOI $1,090,000.	7.2%	57K	97%	21Ac	West Central Fla	$17,000,000
A405481	200±	APARTMENTS - Built 1975, concrete block construction, 2-story, renovated 1992, newer roofs, units seperated by concrete firewall, 1 and 2 bedroom units, eat-in kitchens, private screened patio, large closets. NOI $636,000.	7.2%	46K	%	12Ac	Central Fla	$8,900,00
A438851	150±	APARTMENTS - Concrete block construction, renovated duplex units, all units are 2-bedrooms/1-bathroom, new water heaters, new tile, new roofs, new paint, central HVAC. Possible seller financing.	10%	51K	95%	Ac	N.E. Fla	$CALL
A787081	95±	APARTMENTS - Built 1974 & 1986, concrete block construction, 2-story. Unit mix: 30 2-bedrooms/1-bathroom villas, 24 2-bedroom/2-bathroom apartment units, 8 2-bedrooms/1-bathroom apartment units, 32 1-bedroom/1-bathroom apartment units. Laundry room, clubhouse, leasing office. NOI $419,000.	7.6%	56K	97%	7Ac	Central Fla	$5,500,000
A509281	90±	APARTMENTS - Built 1969, poured cement/block construction, 4-story, one elevator, covered parking. Unit mix: 27 2-bedrooms/2-bathrooms @$800, 6 2-bedrooms/1-bathroom @ $750, 51 1-bedroom/1-bathroom @ $650, 7 efficiencies @ $600. NOI $477,000	8.5%	62K	98%	1.4Ac	S.E. Fla	$5,620,000
A094681	85±	APARTMENTS - Built 1963, concrete block construction, 2-story, no deferred maintenance, new HVAC and appliances in most units. NOI $376,000.	7.4%	61K	100%	2Ac	S.E. Fla	$5,050,000

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INFORMATION REQUEST FORM  1. (all required) First Name Last Name  2. Status: (required) Buyer, Lic. Real Estate Agent  3. Company Name (if any):  4. Street Address: (required) Apt.No:  5. (all required) City: State: Zip:  6. Country (if outside U.S.A.):  7. Home Phone: ( ) -  8. Work Phone: (required) ( ) -  9. Cell Phone: ( ) - 10. E-mail address: (required)  STOP - Verify that your email address is spelled correctly _________________________________________________________________  11. Type of purchase: (check all types considered):  Hotel-Motel  Mobile Home Park / RV Park  Multi-Family Apartments  Self-storage  Marina  12. Preferred Florida area:  13. Minimum rooms: , Maximum rooms:  14. Maximum cost per room:  15. Purchase Price Range: From: To:  16. Cash Available to purchase: (required) $ U.S. DOLLARS  17. Can you show proof of funds of Cash Available: (required) Yes, No  18. Financing: (required) Only seller financing, Have my own financing available.  19. If seller financing is wanted, can you provide a personal financial statement  prepared by an accountant: Yes, No (required for seller financing)  20. More info on Property #: , ,  21. Minimum Property Requirements (required)  - - - - Be Specific — The more information the better.

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