28d ago in 🏠 Deal Opportunities
New Deal Alert
Hi, here are our latest hot deals! + CONSULTANT FEE TO BE ADDED TO ALL ASKING PRICES
I wanted to provide you with some important information regarding the property currently on the market. Please note the following details:
- Buyer Fee: A 3% fee will be applicable to the buyer. - Offers: We have received offers of $42 million and $44 million. Any new offers must exceed $44 million to be considered. - NDA Requirement: A Non-Disclosure Agreement (NDA) is necessary to access further information about the property.
Additionally, the property is approaching foreclosure, and a sale is being expedited to finalize before this process is complete. While we don’t have an exact date, it is imminent.
We can facilitate a package of property information ahead of time, which includes:
- Tax Statements - Title Reports - DCHR - Appraisals - Financials - Risk Assessments
These documents will be available upon execution of the NDA for interested parties ready to proceed.
The bank has indicated that the financing is assumable at the proposed full price, which involves an interest rate of approximately 2.98% through 2039, adjusting to around 3.5% for the remainder of the loan term.
From the bank’s perspective, the portfolio shows a strong residential occupancy rate of 94.6% and a retail occupancy rate of 90%. The properties are located near each other in Upper Manhattan, offering operational efficiencies for potential bidders. Most residential units are rent-stabilized, and while rent growth is capped, there is an opportunity to capture approximately 8% of the legal rent currently not being realized.
Please refrain from advertising this information.
Thank you for your understanding. If you have any questions or need further assistance, feel free to reach out.
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2007 W Garden St, Pensacola, FL. This offering includes two duplexes, two houses, and two subdividable lots, all with tremendous potential!
Purchase Terms:
- Purchase Price: $689,000 + 3% Buyer fee
- Down Payment: $99,000
- Seller Financing: $590,000 at 5% interest over 35 years, with a 10-year balloon.
- Monthly Payments: $2,900
Additional Notes:
- There are currently three occupied units, all on month-to-month leases.
- All commissions and fees are covered by the down payment, eliminating any additional costs for you.
- The city has indicated that the property can be subdivided into at least eight lots.
- The units require some rehab work; please refer to the attached pictures and video walkthrough for details.
- The buyer will need to obtain their own insurance for the property.
- The location is highly valuable, just minutes from downtown Pensacola and situated on a major road. There is potential for redevelopment, such as building a hotel or selling to a large-scale developer.
- ARV rent values have been provided via Rentometer, and relevant screenshots can be found in the pictures folder.
- The current owner has billboards on the commercial lot, which can generate an estimated $200-300/month in extra income.
- Additionally, the extra land has been used for trailer storage, potentially adding another $200-300/month in cash flow.
We do not engage in bidding wars; the first to submit a nonrefundable earnest money deposit (EMD) will secure the deal.
For more information, including documents, photos, and videos, please follow this link: UPON REQUEST
To submit an offer please send LOI, POF, and BIO
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