612 N 11th St, Immokalee, FL 34142

The Hull Multifamily Advisors (HMA) are pleased to present the exclusive offering of Bromelia Place in Immokalee, FL. Renovated in 2018, this 30-unit, two-story asset is a Section 42 LIHTC 55+ community and consists of (28) 568 SF One Bed One Bath Apartments and (2) 835 SF Two Bed One Bath Apartments. Notable for investors, this asset has seen a significant amount of recent capital improvements with some apartment units being completely renovated, new HVAC’s (select units), and all new water heaters. Bromelia Place also boasts several amenities such as several common areas, ample parking, and coin operated washer/dryer just to name a few. Additionally, current ownership is paying for utilities, with built in Utility Allowances to offset some of this expense.

Bromelia Place is being offered to the market as a stabilized cash flowing affordable housing asset, however, several value-add opportunities present themselves. Most notable, this asset has an onsite office, with the potential to convert this into an additional apartment unit. This conversion would allow a new investor with an opportunity to increase not only cashflow, but also significantly increase value. Due to the attractive location and significant historic cashflow, this opportunity offers the marketplace a significant value add, cash flowing asset. Please contact HMA for more information before this opportunity is gone.