Location
Location Layout Map
PRICING (first come, first served)
Rental Income Welcomed, check out these figures:
- $105,000 purchase, HOA $650/year, $600/year property tax
- At $750/month rental (cheap) = 8.0% CAP Rate
- At $1,000/month rental (average) = 11.1% CAP Rate
- At $1,200/month rental (about right) = 13.6% CAP Rate
Phase 1 – buildings 1 – 11 (76 units, 24’ X 48’) turnkey, fully furnished units $105,000 each
Phase 2 – buildings 12 – 20 (72 units, 24’ X 48’) turnkey, fully furnished units $105,000 each
Phase 3 – buildings 21 – 31 (80 units, 24’ X 48’) turnkey, fully furnished units $105,000 each
(By comparison a 24’ X 48’ unit in ShopWorld 1 has just recently sold for $129,000)
- Immediate sale and occupancy
*Note: all prices are subject to change, however once a buy/sell agreement is accepted & signed then that is legally binding and locks in that price for the buyer and can not be changed by the seller.
What is a Condominium Vs. Subdivision Explained?
- Subdivision is generally a method for dividing land into smaller parcels for individual ownership
- Condominium is a method for dividing other properties, generally buildings, into smaller units for individual ownership
- Both are REAL real estate with real recorded warranty deeds
- In a subdivision, you own a parcel of land
- In a condominium you own a measured footprint (like 24’ X 48’) of a described building and typically a % of any common ground outside the buildings like streets, parking, etc.
- Bank loans, equity, etc. work the same for both
- In a subdivision parcel you own the land and the care and maintenance of it
- In a condominium the common ground maintenance is normally performed by a property owners association or owner agreement
