212 REO Apartment Homes For Sale
Sunday, December 13, 2009
212 REO Apartment Homes, 50% occupied, Melbourne, Florida
Direct to Seller Rep
- 212 Available Garden Style Apartments
- Rentable Square Feet 181,111
- Strike Price $8.5MM---Bank Financing
- $40k/door
- Lender’s 1st Mortgage $10MM (REO)
- Lender financing available with 30% down
- Situated on 11.74 acres
- Built in 1974
- 81- 1br - 1ba units (690 square feet each) rent $495 per month
- 81- 2br +1ba units (865 square feet each) rent $650 per month
- 33- 2br+ 2ba units (924 square feet each) rent $695 per month
- 17- 3br +2ba units (1,157 square feet each) rent $995 per month
- 50% Occupied
- 11 two story walk up garden style buildings (class B rating)
- CBS Construction
- Tenant pays gas & electric (AC separately metered)
- Owner pays water, sewer and trash
- Amenities include: 2 swimming pools, clubhouse, fitness center, lighted tennis courts, volleyball court, playground, business center and laundry facility.
