MULTIFAMILY INVESTMENT PROPERTY FOR SALE · Brand new Investment Duplexes near HCC & Stadium. Two...

CONFIDENTIAL OFFERING MEMORANDUM • JANUARY 24, 2019

Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com

4210 N Coolidge Ave, Tampa, FL 33614

4210 N COOLIDGE - INCOME/TWO INVESTMENT DUPLEXES

Derek M. Seckinger Kari L. Grimaldi/ Broker813.882.0884 [email protected] [email protected]

MULTIFAMILY INVESTMENT PROPERTY FOR SALE

https://www.grimaldicommercialrealty.com/index.php


MULTIFAMILY PROPERTY FOR SALE

2

presented by:

ADVISOR BIOS 16

Commercial / Industrial PropertySales AssociateO: 813.882.0884C: 813.344.6552E: [email protected]

Derek M. Seckinger

President/ BrokerO: 813.882.0884C: 813.376.3386E: [email protected]

Kari L. Grimaldi/ Broker

The information contained in the following offering memorandum is proprietary and strictlyconfidential. It is intended to be reviewed only by the party receiving it from GrimaldiCommercial Realty and it should not be made available to any other person or entity withoutthe written consent of Grimaldi Commercial Realty.

By taking possession of and reviewing the information contained herein the recipient agrees tohold and treat all such information in the strictest confidence.

The recipient further agrees that recipient will not photocopy or duplicate any part of theoffering memorandum. If you have no interest in the subject property, please promptly returnthis offering memorandum to Grimaldi Commercial Realty.

This offering memorandum has been prepared to provide summary, unverified financial andphysical information to prospective purchasers, and to establish only a preliminary level ofinterest in the subject property.

The information contained herein is not a substitute for a thorough due diligenceinvestigation.

Grimaldi Commercial Realty has not made any investigation, and makes no warranty orrepresentation with respect to the income or expenses for the subject property, the futureprojected financial performance of the property, the size and square footage of the propertyand improvements, the presence of absence of contaminating substances, PCBs or asbestos,the compliance with local, state and federal regulations, the physical condition of theimprovements thereon, or financial condition or business prospects of any tenant, or anytenant’s plans or intentions to continue its occupancy of the subject property.

The information contained in this offering memorandum has been obtained from sources webelieve reliable; however, Grimaldi Commercial Realty has not verified, and will not verify, anyof the information contained herein, nor has Grimaldi Commercial Realty conducted anyinvestigation regarding these matters and makes no warranty or representation whatsoeverregarding the accuracy or completeness of the information provided.

All potential buyers must take appropriate measures to verify all of the information set forthherein.

Prospective buyers shall be responsible for their costs and expenses of investigating thesubject property.

CONTENTS CONFIDENTIALITY & DISCLAIMER



TABLE OF CONTENTS



SECTION •

3

OFFERING SUMMARY

Sale Price: $900,000

Number Of Units: 4

Available SF: 6528 SF

Lot Size: 0.23 Acres

Year Built: 2018

Building Size: 6,528 SF

Zoning: RM-16

Market: Tampa Stadium/ Drew

Park

Price / SF: $137.87

PROPERTY OVERVIEW

Brand new Investment Duplexes near HCC & Stadium.

Two sets of duplexes (4 units) can be sold together or separate.

Two Brand New Rental Duplex's completed October 2018. Each unit is$450,000, with 2 x 1,632 sf, 3 bedroom, 2 bath. Custom cabinetry with easyclose hardware, granite counter tops, 9-foot ceilings throughout, specialtyflooring and lighting, built-in soap dispenser, and in slab disposal control.

Enclosed garage with a spacious fenced yard. Stainless Steel Appliances, andnew Washer/ Dryer. Near HCC, St. Joseph's Hospital, Raymond James Stadium,Airport, International Mall. Four miles NW of downtown. Centrally located- getanywhere in town in under 15 min.

Airport Area, just south of W. MLK, between Air Cargo Rd.

Comprehensive Builder Warranty for 1 year from purchase date

NO DEFERRED MAINTENANCE!!!! BRAND NEW CONSTRUCTION



7.4% CAP RATE- BRAND NEW INVESTMENT DUPLEXES!



SECTION •

4

PROPERTY OVERVIEW

Brand new Investment Duplexes near HCC & Stadium.

Two sets of duplexes (4 units) can be sold together or separate.

Two Brand New Rental Duplex's completed October 2018. Eachunit is $450,000, with 1,632 sf, 3 bedroom, 2 bath. Customcabinetry, granite counter tops, 9-foot ceilings throughout,specialty flooring and lighting. Enclosed garage with a spaciousfenced yard.

Near HCC, St. Joseph's Hospital, Raymond James Stadium,Airport, International Mall. Four miles NW of downtown.Centrally located- get anywhere in town in under 15 min.

Airport Area, just south of W. MLK, between Air Cargo Rd.

LOCATION OVERVIEW

Conveniently Located Between Air Cargo Rd. and W. Ohio Rd. ina very peaceful neighborhood with mature trees. Area is underredevelopment.



PROPERTY DESCRIPTION



SECTION •

5

SALE HIGHLIGHTS• New Construction Duplexes - Completed

October, 2018

• Excellent investment/ Income Producing

Property/FULLY LEASED!

• 3 Bedrooms / 2 full baths / 9 foot ceilings /

Garage / Fenced Yard

• Stainless Steel Appliances - Included NEW

Washer/ Dryer

• Custom Cabinetry with Granite Counter tops

• Block Construction and Stucco, Engineered

Truss system, 30 yr. architectural shingles,

gutters all around.

• Spacious 3,264 sf/$450,000 each building or

1,632 sf/rental unit.

• Woodgrain tile flooring and finishes

throughout ensure low long term

maintenance costs.

• 7.4% CAP INCLUDES a 5% vacancy rate.



COMPLETE HIGHLIGHTS



SECTION •

6



ADDITIONAL PHOTOS



SECTION •

7



ADDITIONAL PHOTOS



SECTION •

8



ADDITIONAL PHOTOS



SECTION •

9



LOCATION MAPS



SECTION •

10

4210 N Coolidge - Income/TwoInvestment Duplexes



AERIAL MAP



SECTION •

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1 MILE 5 MILES 10 MILES

Total population 1,303 244,371 670,637

Median age 32.2 36.2 35.8

Median age (Male) 32.2 34.8 34.5

Median age (Female) 29.7 37.7 37.0

1 MILE 5 MILES 10 MILES

Total households 433 100,798 268,982

Total persons per HH 3.0 2.4 2.5

Average HH income $34,984 $64,194 $63,377

Average house value $156,362 $278,151 $275,256

* Demographic data derived from 2010 US Census



DEMOGRAPHICS REPORT



SECTION •

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POPULATION 1 MILE 5 MILES 10 MILES

Total population 1,303 244,371 670,637

Median age 32.2 36.2 35.8

Median age (Male) 32.2 34.8 34.5

Median age (Female) 29.7 37.7 37.0

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

Total households 433 100,798 268,982

# of persons per HH 3.0 2.4 2.5

Average HH income $34,984 $64,194 $63,377

Average house value $156,362 $278,151 $275,256

* Demographic data derived from 2010 US Census



DEMOGRAPHICS MAP



SECTION •

13

INVESTMENT OVERVIEW

Price $900,000

Price per Unit $450000

GRM 10.1

CAP Rate 7.4%

Cash-on-Cash Return (yr 1)

Total Return (yr 1) -

Debt Coverage Ratio -

OPERATING DATA

Gross Scheduled Income $88,800

Other Income -

Total Scheduled Income 88,800

Vacancy Cost 4,440

Gross Income 84360

Operating Expenses 18,200

Net Operating Income -

Pre-Tax Cash Flow -

FINANCING DATA

Down Payment

Loan Amount

Debt Service

Debt Service Monthly

Principal Reduction (yr 1) -



FINANCIAL SUMMARY



SECTION •

14

UNIT

NUMBER

UNIT

BED

UNIT

BATH

UNIT

SIZE

(SF)

LEASE

START

LEASE

END

CURRENT

RENT

CURRENT

RENT (PER

SF) STATUS LENGTH

SECURITY

DEPOSIT

3 2 1,632 1/1/19 4/1/120 $1,900 $1.16 leased $1,800

3 2 1,632 10/1/

18

9/30/18 $1,900 $1.16 leased 24

months

$1,800

3 2 1,632 11/1/

18

10/31/

18

$1,800 $1.10 leased 24

months

$1,800

3 2 1,632 1/1/19 4/1/20 $1,800 $1.10 leased 15 month $1,800

Totals/

Averages

6,528 $7,400 $1.13 $7,200

Actual Gross Potential Rent* $88,800 For Two Fully Leased Buildings

Projected Gross Potential Rent** $96,000

*Actual Gross Potential Rent is based on current rents.**Projected Gross Potential Rent is based on market rents.



RENT ROLL



SECTION •

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UNIT TYPE COUNT%

TOTALSIZE(SF)

RENT RENT/SFMARKET

RENTMARKET RENT/

SFDEPOSIT

3 br / 2 ba 4 100.0 1,632 $1,850 $1.13 $0 $0.00 $1,800

Totals/Averages 4 100% 6,528 $7,400 $1.13 $0 $0.00 $7,200



UNIT MIX SUMMARY


ADVISOR BIOS


SECTION 1 • ADVISOR BIOS

17

115 W Bearss AveTampa, FL 33613T 813.882.0884C [email protected] #SL3344454

PROFESSIONAL BACKGROUND

Derek Seckinger, Sales associate, is a Sales and Marketing Professional with 25years of experience in sales, as a former business owner, V.P., Sales Trainer,and in related sales and marketing executive titles. Derek is a consummateprofessional and people person, who is drawn to work that help both peopleand companies grow. In his diligent work ethic, Derek is a firm believer in beingproactive and in making things happen rather than waiting for them to happen.Feeling blessed in life, Derek always has a positive outlook. He is a serialentrepreneur and believes in the American dream, that if you work hardenough, you can accomplish anything. "The only place Success comes beforeWork is in the dictionary" - Vince Lombardi.

Experience in the following:Contract negotiations and due diligenceInvestment & Financial AnalysisWarehouse & Industrial Sales & LeasingRetail Sales & LeasingOffice Sales & LeasingMulti Family DevelopmentLand & Commercial DevelopmentLand Sales & Development and Urban InfillProperty Valuation1031 Exchanges

EDUCATION

Tampa native since 1981, attending Buchanan Jr. High, then Chamberlain H.S.,and first graduating class of Gaither H.S. Derek attended several majoruniversities around the country before completing a double major inInternational Business Management and Business Finance from University ofPhoenix.

DEREK M. SECKINGER

Commercial / Industrial Property Sales Associate



ADVISOR BIO & CONTACT 1



SECTION 1 • ADVISOR BIOS

18

115 W Bearss AveTampa, FL 33613T 813.882.0884C [email protected] #BK3076744

PROFESSIONAL BACKGROUND

Kari Grimaldi is a Managing Broker/President of Grimaldi Commercial Realty Corp. andcommercial real estate expert. Kari has quickly climbed the ranks of who’s who inTampa Bay Area Commercial Real Estate to become a Top Producer. Learning & joiningthe family business at an early age, Kari understands the importance of networkingand building relationships, and has accumulated 20+ years of experience and in-depthknowledge to execute and navigate commercial real estate transactions for Sellers,Buyers, and Landlords/Tenants from inception to closing. Kari has an extensive resumewith some of the highlights listed below:

Areas of Expertise:Office and Build to Suit Sales & LeasingMedical Office Sales & LeasingResale & Leasing of Office ParksRetail Sales & LeasingIndustrial Sales & LeasingMulti family InvestmentsSingle NNN National InvestmentsLand & Commercial DevelopmentForeign Investors & Investment SpecialistSeller Finance and Creative Financing1031 & Reverse ExchangesShort Sales & Distressed/Bank-owned assets

As a commercial real estate owner and investor herself, she knows first hand how toguide others through the process, and negotiate and close transactions successfully.Kari has a vast portfolio of closed transactions in all sectors of the commercial market,and is a multi-million dollar sales producer.

EDUCATION

A Florida native, Kari earned her Bachelors at University of Florida in Management andPsychology, and a Masters at University of South Florida. A consummate professional,Kari is continually educating herself on the latest economic and market trends withcontinuing education, seminars and networking.

MEMBERSHIPS & AFFILIATIONS

Member of NAR, FAR, and FGCAR- Association of RealtorsREIC Member- Real Estate Investment CouncilCCIM Candidate- Certified Commercial Investment MemberICSC Member- International Council of Shopping Centers

KARI L. GRIMALDI/ BROKER

President/ Broker



ADVISOR BIO & CONTACT 2


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