2019 Brand New Duplexes! 20 Units Total! "Huge Value Add Opportunity"
10- 2bed/1bath units completed and rented with preapproved land, blueprints, utilities and plans for an additional 5 more duplexes! Impact fees for the additional 5 duplexes have already been paid! Just pull permits and start construction!
Current cap rate is 9% for the 10 units and a 18% cap for all 20 units after expenses.
100% occupied with 8 months remaining on All 10 one year leases and there's a waiting list for the new construction!
Current NOI: $96,000
Projected NOI: $216,000 after adding the additional 10 units and rents can be raised from $800 to average market of $900-$1100.
Tenants pay All utilities.
Located in an opportunity zone, so investors avoid capital gains taxes!!
Great Investment that 's only available due to seller health problems. Bowling Green is located an hour S of Tampa and around 35 miles from Lakeland/Haines City/Plant City/Winter Haven! Survey available upon request.