· Price:
$2,900,000
· Lot Size: 22 FEET X 50 FEET
50AC
PRICE: $16,900 PER LOT
· Lot Type:
Multifamily PUD
· Commission Split:
3%
· 148 vacant lots with roads, sewer, water and drainage complete. Roads need final asphalt coat on completion of build out of units. Lot premiums on waterfront and woods will exceed $1,400,000. Property backs up to the second largest Florida State Park.
· Lot premiums available: See site plan and list below.
· Lots 54 to 63 = 10 buildings at 4 units each building backs up to heavily wooded park area.
· Projected premium per lot $6,000 x 40 pads = $240,000
· Buildings 80,82,84,86,88,90 backing up to rear pond and State Park ( Second largest in Florida) six buildings and 24 pads at $20,000 per pad= $480,000
· Buildings 71 to 74 , 16 pads backing up to pond and State Park 16 pads at $15,000 per lot =$240,000 in premiums;
· Buildings 14 to 22, 9 buildings and 36 pads backing up to small pond and near the clubhouse at $10,000 per pad = $360,000
· Buildings 1 to 3 = 12 pads at $10,000 backing up to Clubhouse at $120,000 in premiums.
· Total projected premiums = $1,240,000
· Price for Lots: $2,900,000
· Less premiums: $1,440,000
· Net cost of 148 2 unit lots: $1,460,000
· Each lot costs: $ 9,860 for two units or $4,930 per unit after premium credits
· Cost to build units: $ 70,000
· Construction overhead $ 3,000
Description
A 360 lot townhouse development with 212 units completed. The balances of the pads (148) are developed with water, sewer, and storm in place and roads paved. Entire subdivision approved and accepted by the County. A final asphalt layer will need to be added to the construction layer of asphalt as the units are developed. The permits can be pulled immediately. HOA Documents provide for amenities to be paid for at 15 % of the appraisal will yield an additional return to developer! Call for details.
The site is near Disney World ( 20 minutes to the entrance ) and is in a prime location for short term rentals or for sale as homes or rentals.
Disney vacationers have a strong affinity for hotel locations near Disney and this site is one of the nearest available to the Disney property. Presently the completed units are being rented with longer leases but any units may be short term.
The zoning approves short term rentals. There is great potential for time shares or short term rentals. Presently there are 212 units built as townhouses with each unit having a three bedroom two bath unit and a one bedroom one bath unit. They each have their own outside entrance and also are connected by an interior lockout door to separate them if needed. The cost for the one bedroom unit is under $10,000 for the 600 square foot unit as the whole unit pays only one set of impact fees instead of both the one bedroom and the three bedroom units having to pay impact fees. Also the county has reduced impact fees now bring the lost cost to almost $0. The cost to build these units is very low compared to normal multifamily units. Call for details.
The 148 lots can yield 296 rental units if this concept is followed.
These plans do not have to be built and the site can be re platted or different plans may be built.
Call David at 407 948 3315.