TOWNHOMES
Value-Add Opportunity with Considerable Upside 132 UNITS 1979 YEAR BUILT 581 AVG UNIT SF 76,755 RENTABLE SF 93% 6.50 OCCUPANCY ACRES $1.15 $666 AVG MKT RENT/SF AVG MKT RENT Gainesville, FL 3010 SW 23RD TERRACE 32608
The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of the 132- unit Saddle Cove Townhomes located in Gainesville, Florida. This asset is situated in the desirable Gainesville- University South submarket. Built in 1979 of concrete block construction, Saddle Cove Townhomes offers an outstanding opportunity to invest in this well-designed community that offers a significant value-add opportunity while capitalizing on the $1,100,000 +/- improvements recently implemented.
EXECUTE THE CA SCHEDULE A TOUR
INVESTMENT HIGHLIGHTS
132-Unit “B” Class Garden-Style Apartment Community Built With Concrete Block Gainesville Experienced over 4.8% Rent Growth Construction; Ability to Increase the Effective Gross in 2018 With an Average Occupancy Rate of 1 Income by Almost 35% 4 98.9% for B and C Class Assets
Over $1,100,000 in Capital Improvements Within the Within Walking Distance to the University of Past 12 Months; Immediate Upside to Recapture the Florida With Over 54,000 Students and 5,000 2 Approximately $82,000 In-Place Loss-to-Lease 5 Faculty Members
Significant Value-Add Opportunity Through Interior Minutes From Butler Plaza With Nearly Enhancements With the Ability to Achieve $208 2,500,000 Square Feet of Retail Including Whole 3 Average Rent Premiums From Current Market 6 Foods, Publix, Best Buy, Target, Lowes, Sam’s Rents Club, Walmart and Dick’s Sporting Goods
CONTACT THE FLORIDA MULTIFAMILY TEAM FOR MORE INFORMATION
INVESTMENT SALES DEBT, EQUITY & STRUCTURED FINANCE NICK MEOLI (LEAD) MIKE DONALDSON (LEAD) ROBERT KAPLAN EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR EXECUTIVE MANAGING DIRECTOR +1 813 462 4222 +1 813 658 8278 +1 305 533 2860 [email protected] [email protected] [email protected]
BRAD BLACK ROBERT GIVEN CHRIS LENTZ SR. FINANCIAL ANALYST VICE CHAIRMAN SENIOR DIRECTOR +1 813 462 4216 +1 954 377 0513 +1 305 533 2865 [email protected] [email protected] [email protected]