Investor alert! 7 Single Family homes located in Hot Lake Wales. Updated 6/16/2023: Offered at an 7.9% cap rate on current net income. Proforma is attached and has an expected 8.9% Cap Rate.. They are all located on Villas Ct adjoining each other which makes them super efficient to manage and maintain.There are Five 2 bedroom/1 bath and Two 3 bedroom/1 bath homes.They are in good and well maintained condition with lots of updates! This is a great alternative to duplexes and quads as they are each on their own separate parcel with individual tax IDs. Well and septic are provided by landlord. Tenants pay their own electric and have separate Electric Meters. They are sold as a package but could be financed or split off individually by a new owner. All the homes have newer roofs that were installed in the last 2-5 years. Profit and loss with proforma is available along with rent roll and expenses. There will be a group showing of all units for qualified buyers please ask for date and time. Sorry no individual showings without accepted offer. 10 day inspection period max. Escrow deposit is 3%. No Finance and/or Appraisal Contingencies. Escrow Deposit is non refundable after inspection period. Lease renewal dates are listed on attachments. Do not disturb tenants. Sorry NO SELLER FINANCE. Cash, hard money, DSCR loans or private financing (potentially through a local lender) are welcome. Additional parcel with 1 home, 5 buildable lots and additional frontage on HWY 60 is also available and sold separately.
