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14558596
15216282

101 11th Street Ocean, Marathon, FL 33050

BC
FL FL SL3267919
FL Retail Advisors
Listed by FL Retail Advisors
Unpriced
1281 days on market
Updated 69 days ago

Trophy Income-Producing Vacation Rentals - FL Keys

Details
APN 00319920-000000
Property Type Multifamily
Sub Type Single Family Rental Portfolio
Square Footage 1,000
Net Rentable (SqFt) 1,000
Units 10
Cap Rate 22.27%
NOI $108,000
Pro-Forma Cap Rate 33.89%
Pro-Forma NOI $164,350
Price per SqFt $485
Class A
Year Built 2021
Buildings 1
Stories 3
Lot Size (SqFt) 100,754
Zoning R-MH
Investment Type Net Lease
Ground Lease Yes
Ownership Fee Simple

Trophy Income-Producing Rentals | Multiple Units | $485,000 - 629,000/unit

Marketing description

[Multiple Units - Not Entire Community] This Ocean Front Home On Atlantic offers Ocean and Sunrise/Sunset Views and values found at $1,400- $1,800 per square foot! Immaculate & Fun Community. Newer 2021 construction, 2-story on pilings, with two models offering surprisingly spacious units ranging from 960- 1,000+ SF MOL with 2 bed,2 or 1.5 bath depending on model. Please note multiple units available, some include a third- floor balcony, all include granite and stainless-steel kitchen, shiplap siding, tons of natural light, crown molding, central air conditioning, and interior laundry facilities. The community has to offer: Modern, beautiful community lounge area, with 2 clean fuel fire pits, sun - tanning deck, stainless grill with outdoor kitchen & ice house and inground pool. Famous 7-Mile bridge trolley across the street, Lazy Days on same street, 7-Mile Grill, Sunset Grill (with public pool), Sombrero Beach and all the local hot spots!


Units range from fully furnished to partially furnished (including washer/dryer) and ready to launch into a rental program, or to fully enjoy for yourself. Carport under home, with onsite private marina boat slip option up to 28'. Ground lease property at a reasonable monthly amount No HOA & No Annual Re Taxes; but includes management for common areas & amenities. Nominal non- ad valorem/ pass- through taxes paid monthly (all included in total lot Rent), and again no HOA. 30-day minimum rental. With no HOA fees, property taxes, and a full-time property management company taking care of all common area, there's no work do when you show up - just live the island lifestyle.


The keys are calling! These stunning brand-new construction units boast a transferable warranty covering even the appliances until 2032, ensuring peace of mind for years to come. With ocean views and a pool, this retreat offers the perfect escape. Located just 2.5 hours from Miami and short hour from Key West, this home offers the open water view you're been searching for without the $2Mm Price tag. This is the very lowest barrier to entry new construction unit you'll find in the keys, and it's worth every penny. The amenities here are simply unmatched for the price, and with low inventory in Marathon, Construction and Permit Moratoriums in Islamorada and soon in Marathon, this is a rare opportunity for already Intrinsic Value. Make the move to the keys and experience island living at its best or purchase for passive vacation rental income. Perfect for one or more bite sized 1031 exchanges.


Investment highlights

  • Multiple Units Available - Two Models Offering Spacious Floorplans From 960 - 1,000±mol Both Fully and Partially Furnished Available With Transferable Warranties Through 2029/2032
  • Ground Lease/ Ground Rent $1,500-1,600 Mo. Includes Amenities, Landscaping Irrigation Etc.- No Real Estate Taxes or Hoa Fees
  • High Quality Modular Construction - Built Jan 2021 - Meets 185-mph Wind Resistance
  • Low Barrier to Entry in a Very High Barrier Market

Listing Contacts

BC
FL FL SL3267919
FL Retail Advisors
Listed by FL Retail Advisors

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$108,000.00
$9,000.00/mo

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Additional Information

Name
Brian Capo
License
FL SL3267919
Brokerage Phone
4074041846
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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