These 58 residential properties are owned by one entity and were built by the two principals between 2003 and 2007. They are income-producing with a vacancy rate in the mid-single digits and command rents 30+% higher than the area average. A private management office is already in place and oversees the tenants. As the Orlando MSA has mushroomed the last 25 years, so has the need for bedroom communities where workers and executives can make their homes. With relatively short drives from Orlando, families have been drawn to Deltona and Deland looking for cheaper housing, better schools and more family-oriented living. Most recently, the economy and a sharp decline in available apartments has created an extremely profitable rental market in this area. Fifty-one of the 58 homes have three bedrooms and two baths in 1,215 square feet. The remaining homes are 4/3 or on a lake. Site To Do Business gives the 2008 average value of a single family home in this area of Deltona as $191,395 and $208,015 in this area of Deland. The portfolio is being offered well below market value and the greatest worth lies in selling when the market rebounds. The income stream is an added bonus in the mean time. For additional information, select one or more of the files below:
MARKETING FLYER