Ibis Villas at Doral Condominium Portfolio
22-Unit Condo & Townhome Portfolio | $250psf | 2-4 Beds | 12 Garages | 2006 YOC | Doral, FL
Marketing description
The Thomas-Team of Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale the Ibis Villas at Doral Condominium Portfolio, consisting of 22 out of 196 total condominiums located in Doral, Florida.
SUBJECT PROPERTY
This offering includes 22 out of 196 total condominiums within The Ibis Villas at Doral Condominium, offering an approximately 11% ownership interest. The Ibis Villas at Doral Condominium Portfolio was originally constructed between 2006 and 2007 and consists of nine buildings within a larger 23-building condominium community, according to the Miami-Dade County Property Appraiser. The buildings are two and three stories and feature concrete block construction, painted stucco exteriors, barrel tile roofs, paved asphalt parking, in-unit washer’s & dryers and central air conditioning.
This portfolio totals 34,716 rentable square feet with a unit mix consisting of (8) two-bedroom | two-bathroom units measuring approximately 1,303 square feet, (8) three-bedroom | two-bathroom units measuring approximately 1,380 square feet, (4) three-bedroom | three-bathroom units measuring approximately 2,206 square feet, and (2) four-bedroom | two-and-a-half-bathroom units measuring approximately 2,214 square feet.
- 11116 NW 88th Terrace is comprised of; Unit #101 a 2 Bed | 2 Bath Condo with Garage, Unit #202 a 2 Bed | 2 Bath Condo, Unit #109 a 2 Bed | 2 Bath Condo with Garage, and Unit #110 3 Bed | 2 Bath Condo.
- 8804 NW 109th Place is comprised of; Unit #401 a 2 Bed | 2 Bath Condo with Garage, Unit #403 a 3 Bed | 3 Bath Townhome with Garage, Unit #407 a 2 Bed | 2 Bath Condo with Garage and Unit #408 a 2 Bed | 2 Bath Condo.
- 8902 NW 109th Court is comprised of; Unit #1202 a 3 Bed | 2 Bath Condo, Unit #1205 a 2 Bed | 2 Bath Condo with Garage.
- 8952 NW 109th Court is comprised of; Unit #1102 a 3 Bed | 2 Bath Condo, Unit #1105 a 2 Bed | 2 Bath Condo, Unit #1202 a 3 Bed | 2 Bath Condo and Unit #1205 a 2 Bed | 2 Bath Condo with Garage.
- 11053 NW 89th Terrace consists of; Unit #1505 a 4 Bed | 2 Bath Townhome with Garage.
- 11063 NW 89th Terrace consists of; Unit #1605 a 4 Bed | 2 Bath Townhome with Garage.
- 11062 NW 89th Terrace is comprised of; Unit #1702 a 3 Bed | 2 Bath Condo, Unit #1705 a 2 Bed | 2 Bath Condo with Garage, Unit #1706 a 3 Bed | 2 Bath Condo.
- 11061 NW 89th Terrace is comprised of; Unit #1802 a 3 Bed | 2 Bath Condo, Unit #1803 a 3 Bed | 3 Bath Townhome with Garage, Unit #1805 a 2 Bed | 2 Bath Condo.
- 11060 NW 88th Terrace is comprised of; Unit#303 & 304, 3 Bed/3 Bath Townhomes with Garage.
LOCATION
The Ibis Villas at Doral Condominium Portfolio is located at 11116 NW 88th Terrace, in Doral, Florida. Doral is one of Miami-Dade County’s most established suburban markets, known for its strong residential base, proximity to major employment centers, access to regional transportation corridors, and concentration of retail, dining, healthcare, and educational amenities.
The Ibis Villas at Doral Condominium Portfolio is proximate to NW 112th Avenue, Florida’s Turnpike, US-826, and the Dolphin Expressway. Nearby points of interest include Doral Legacy Park (0.6 miles), CVS Pharmacy (1.5 miles), Talkin’ Tacos Doral (1.5 miles), Bank of America (1.6 miles), Doral Commons (1.7 miles), UHealth Jackson Urgent Care | Doral (1.7 miles), Walmart Neighborhood Market (3.2 miles), Baptist Health Hospital | Doral (3.6 miles), Westland Promenade (5.8 miles), CityPlace Doral (5.9 miles), Miracle Mile Shopping Center (6.3 miles), Jackson West Medical Center (7.8 miles), and Miami International Airport (15.4 miles).
Nearby educational facilities include Dr. Rolando Espinosa K-8 Center (0.3 miles), Ronald W. Reagan Doral Senior High School (0.8 miles), Andrea Castillo Preparatory Academy (1.9 miles), and JC Bermudez Doral Senior High School (2.9 miles).
SUMMARY
The Ibis Villas at Doral Condominium Portfolio is being offered for sale at $8,690,000 or $395,000 per unit. The offering price reflects a 20%+ discount to retail value, giving incoming investors the opportunity to acquire a substantial stake in the community at below market pricing, with immediate upside through the individual sale of each condo.
Investment highlights
- Portfolio of 22 Units built in 2006-2007 located in Ibis Villas Condominium, which has 196 total units
- Affluent/Growing Area with $122,569 Average Household Income, 18% Population Growth since 2010
- Mix of 2, 3 and 4 Bedrooms Units ranging from 1,303 – 2,214 Square Feet (1,587 Average Units Size)
- Six of the Units are Townhome Floorplans over 2,200 Square Feet and Twelve Units have Garages
- Units Feature Central Air Conditioning, Washer/Dryers, Stainless Steel Appliances, Attached Garages
- Common Area Amenities include On-Site Office and Clubhouse, Pool, Fitness Center, Ample Parking
- Proximate to CityPlace, Downtown Doral, Florida’s Turnpike and US-826 (the Palmetto Expressway)
- Opportunity to buy in bulk at discount to retail sale prices and then achieve ~$2 million profit on exit
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