Property Description:THIS 24-UNIT CONDOMINIUM PORTFOLIO CONSISTS OF CLASS A UNITS ACROSS BEAUTIFUL ST. PETERSBURG, LAGO AND CLEARWATER, FL! THESE ARE THREE OF THE FASTEST-GROWING AND HOTTEST MARKETS IN THE COUNTRY! WITH MASSIVE DEVELOPMENTS ONGOING AND PEOPLE FLOCKING TO THESE AREAS TO LIVE, THE AVAILABILITY OF UNITS LIKE THIS IS FEW AND FAR BETWEEN, CREATING INCREDIBLE DEMAND! EACH BUILDING HAS AN HOA, RESPONSIBLE FOR ALL PROPERTY INSURANCE AND EXTERIOR MAINTENANCE, INCLUDING ROOF AND STRUCTURAL REPAIRS! ALL UNITS ARE IN FANTASTIC CONDITION WITH LONG-TERM TENANTS IN PLACE. THE OWNER HAS UPDATED ALL UNITS IN THE PAST 5 YEARS, AND ALL UNITS ARE LOCATED IN TOP-OF-THE-LINE BUILDINGS ACROSS THESE THREE CITIES. THE SELLER IS OFFERING AMAZING SELLER FINANCING (SEE P.5 OF OM), MAKING THIS DEAL EVEN BETTER! CURRENTLY, THE RENTAL RATES ARE WELL BELOW THE MARKET AVERAGE DUE TO THE LARGE NUMBER OF LONG-TERM TENANTS THAT HAVE RENTED THEIR RESPECTIVE UNITS FOR AN AVERAGE OF OVER 2+ YEARS! THIS GIVES THE BUYER MASSIVE UPSIDE TO INCREASE THE RENTS RIGHT AWAY AND BOOST THEIR NOI WITHOUT HAVING TO SPEND MONEY ON ADDITIONAL CAPEX EXPENSES. SIMILAR UNITS OF THIS QUALITY ARE RENTING FOR AN AVERAGE OF OVER $300-$350 MORE PER MONTH. THIS CLEARLY SHOWS THE MASSIVE POTENTIAL FOR INCREASING THE RENT INSTANTLY, AS WELL AS IN THE FUTURE. THIS PORTFOLIO CURRENTLY BOASTS AN IN-PLACE CAP RATE OF 7% AND A CASH-ON-CASH RETURN OF OVER 10%. THIS ONLY GETS BETTER AS THERE IS CLEARLY ROOM FOR RENTAL INCREASES AT THE PROPERTY. A BUYER CAN EASILY OBTAIN A CAP RATE OF OVER 8% AND A CASH-ON-CASH RETURN OF OVER 12% JUST BY BRINGING ALL 24 UNITS UP TO THE MARKET AVERAGE RENTAL RATE. WITH AMAZING SELLER FINANCING, THIS PROPERTY EASILY BECOMES THE BEST VALUE-ADD INCOME-PRODUCING ASSET ON THE MARKET! SELLER FINANCING APPROX TERMS: Down Payment: $1,000,000 IR: Year 1: 6%, Year 2: 7%, Year 3: 8% INTEREST-ONLY PAYMENTS 3-YEAR BALLOON MONTHLY DEBT SERVICE AS LOW AS $15,000! ALL 24 UNITS ARE LOCATED IN FANTASTIC CONDO BUILDINGS ACROSS THESE 3 CITIES. THEY ARE SPACIOUS UNITS THAT COME WITH ACCESS TO AMENITIES SUCH AS POOLS, GYMS, TENNIS COURTS, CLUBHOUSE ACCESS, AMPLE PARKING, DINING AREAS, AND MUCH MORE! THE OWNER HAS SPENT MONEY UPDATING EACH AND EVERY UNIT OVER THE PAST 5 YEARS. UNIT UPGRADES INCLUDE BUT ARE NOT LIMITED TOO: NEW FLOORING, NEW INTERIOR PAINT, NEW WINDOWS, FULLY UPDATED BATHROOMS, NEW BATHROOM TILE, NEW KITCHEN TILE, NEW KITCHEN APPLIANCES, UPDATED WINDOWNS, AND MUCH MORE. ALL UNITS HAVE TOP-OF-THE-LINE HVAC UNITS. ALL HVAC UNITS WERE REPACED IN THE PAST 5 YEARS, WITH MOST REPLACED WITHIN THE PAST 2 YEARS! THE OWNER IS NOT RESPONSIBLE FOR ROOF OR EXTERIOR MAINTAINCE! THE BEST PART ABOUT THIS AMAZING INVESTMENT OPPORTUNITY IS THAT ALL OF THE UNITS ARE PART OF A HOMEOWNER'S ASSOCIATION. THE HOA HAS A SET MONTHLY COST FOR ALL UNITS OF ($113,235) TOTAL FOR THE ENTIRE PORTFOLIO ANNUALLY. IN EXCHANGE FOR THE MONTHLY FEE, THE HOA MANAGES THE INDIVIDUAL UNITS AND COVERS ALL REPAIRS TO THE EXTERIOR OF THE BUILDING. INCLUDING BUT NOT LIMITED TO GARBAGE, WATER AND SEWER, LAWN, LANDSCAPING, PARKING LOT MAINTENANCE, EXTERIOR BUILDING INSURANCE INCLUDING WIND COVERAGE, ALL EXTERIOR BUILDING MAINTENANCE, DRIVEWAY AND PARKLOT MAINTENANCE, COMMON AREA MATIANCE, MATINANCE OF ALL AMENITIES, ROOF REPAIRS, ON-SITE MANAGEMENT, AND MUCH MORE. THE HOA TAKES CARE OF ANY MANAGEMENT EXPENSES AT THE PROPERTY, SAVING THE BUYER FROM A LARGE ANNUAL COST, AS WELL AS BUILDING AND WIND INSURANCE, WHICH HAS BECOME EXTREMELY EXPENSIVE IN FLORIDA OVER THE PAST 6 MONTHS! ELIMINATING THESE TWO EXPENSES, AS WELL AS EXTERIOR MAINTENANCE AND ROOF REPAIRS, ALLOWS THE BUYER TO PRODUCE GREAT INCOME WITHOUT HAVING TO SPEND MONEY ON THESE ITEMS IN THE FUTURE. THIS IS THE PERFECT INVESTMENT FOR A BUYER WHO WANTS TO OBTAIN GREAT RETURNS WITHOUT HAVING TO SPEND A GREAT DEAL OF TIME MANAGING THE PROPERTIES. PERFECT FOR A LOCAL OR OUT-OF-STATE INVESTOR! Location Description: 24-UNIT CONDO PORTFOLIO ACROSS BEAUTIFUL ST. PETERSBURG AND CLEARWATER, FL. TWO OF THE HOTTEST MARKETS IN THE COUNTRY RIGHT NOW!