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Florida Multi-Family Apartment Buildings for Sale


Fred Hoffmann
Lic. Real Estate Broker

hotels for sale in Florida
hotels in Florida for sale

FirstTrust Realty, Inc.
Licensed Real Estate Brokerage
Telephone (386) 252-5500 (Florida)

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FOR SELLERS

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ANALYSIS RATIOS

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See individual listings for map color location

Property Locations are color coded per the map above



Lender Ratings of Residential Multi-Family Investment Properties

Lenders have developed general classifications of apartment buildings so that they can communicate amongst themselves and other members of the industry with some level of uniformity. The classifications are Class A, Class B, Class C, and Class D.

Grade 1. Class A .... Newer, Institutional
Grade 2. Class B .... Older, Institutional
Grade 3. Class C .... Older, Declining Area
Grade 4. Class D .... Older, Declining Area, Poor Condition

Class A - Institutional buyers like new, larger apartments in prime locations because of low deferred maintenance. These properties are typically occupied by white collar workers and have amenities such as garages, in -unit washer/dryers, pools, spas, exercise gyms, the latest technology, etc. They are typically between 1-10 years old. Typically they are in the path of progress. CAP rates may be around 5% - 7%. They will likely have less cash flow than properties with higher cap rates but will have greater appreciation potential.

Class B - Located in good areas with many of the same amenities as Class A properties, but Class B buildings are 10-20 years old and occupied by both white and blue collar workers. Class B properties are often owned by investment groups, such as limited partnerships and limited liability companies. CAP rates may be around 8% - 9%. These properties will have decent cash flow and decent appreciation potential.

Class C - These are older properties built within the last 21-30 years in working class areas typically occupied by blue collar workers and even some Section 8 tenants. The properties may be in declining areas but not necessarily dangerous areas. The units in Class C buildings are smaller than those in Class A and B buildings and the projects have fewer amenities. The occupancy rates are typically higher than Class A or B because they are more affordable. Individuals usually own Class C properties. CAP rates may be around 10%. These properties will have decent cash flow but little opportunity for appreciation.

Class D - These buildings are older, in declining and even dangerous areas and as a result may have high vacancy rates, deferred maintenance, functional obsolescence and demand a high level of hands-on management from their individual owners. Pro-forma (estimated future) CAP rates 12% - 20% after fix-up, but may generate less income than other properties despite their higher cap rates because of higher initial repairs, refurbishing, maintenance and management demands.

Rules of Thumb:
1. Class A & Class B properties are purchased for appreciation potential.
2. Class B & Class C properties are purchased for cash flow.
3. Class D properties are most suitable for an experienced investor with the expectation of repairing and refurbishing the property.


Please call for Updated Current Properties Available
We can help you find what you want.

Property #

Units

Florida Apartment Buildings for Sale

UNIT MIX

EFF

1 BR

2 BR

3 BR

$
Unit

Occup-
ancy-%

CAP
%

Lot
Acres

Map Color

Price

Agent / Phone

A963171

12

 APARTMENTS - Bank Owned, Built 1968, multi-story, close to Interstates I-275 and I-4.

0

12

0

0

19K

83%

.

0.35 Ac

West Central Fla

$229,000


A735171

12

 APARTMENTS - Built 1985, new hurricane windows, new roofs, concrete block, many capital improvements, rents $495-$565.

0

12

0

0

35K

100%

.

.

West Central Fla

$421,000


A210271

14

 APARTMENTS - Lender approved short sale, built 1985, central AC, close to Interstate I-275, separate elect, cable, phone.

2

12

0

0

25K

64%

11.5%

0.35 Ac

West Central Fla

$350,000


A009271

12

 APARTMENTS - Townhome style with upstairs/downstairs, tenant pays electric & trash, central AC, corner lot, possible seller finance with half down. NOI $58,000

0

12

0

0

49K

100%

10%

0.34 Ac

S.E. Fla

$584,00


A361371

13

 APARTMENTS - 3 duplexes, 7 units in other building, excellent location.

.

.

.

.

52K

100%

.

0.46 Ac

S.W. Fla

$675,000


A172371

12

 APARTMENTS - Units 700 S.F. with $575 rents, separate electric meters.

0

0

12

0

30K

75%

.

0.32 Ac

S.W. Fla

$365,000


A033371

12

 APARTMENTS & HOTEL LICENSE - 2 concrete block buildings, fully renovated. Rents: Efficiency $550, 1-bedroom $600. Walk to Intercoastal Waterway.

6

6

0

0

41K

.

.

.

S.E. Fla

$490,000


A764371

12

 APARTMENTS - Three 4-plex buildings, tile flooring, 4 units with central AC, others have window units. Avg. rent $661/mo. NOI 72,000

0

0

12

0

50K

100%

11%

.

S.E. Fla

$599,000


Property #

Units

2 Florida Apartment Buildings for Sale

UNIT MIX

EFF

1 BR

2 BR

3 BR

$
Unit

Occup-
ancy-%

CAP
%

Lot
Acres

Map Color

Price

Agent / Phone

A798371

12

 APARTMENTS - Built 1978, multi-story, concrete block, 1-bedroom @ 800 S.F., 2-bedroom @ 950 S.F., Located close to public park. NOI $33,000

0

8

4

0

29K

25%

8.3

.

West Central Fla

$350,000


A329371

13

 APARTMENTS - Built 1972, multi-story. Located close to public park, public trail, and waterfront.

0

9

4

0

38K

.

.

0.18 Ac

West Central Fla

$495,000


A959371

12

 APARTMENTS - 12-plex. NOI $52,000

0

0

0

0

39K

.

11%

.

S.W. Fla

$470,000


A140471

22

 APARTMENTS - Concrete block, interior improvements completed. Located close to Interstate I-295 and large downtown job market.

0

0

0

0

14K

84%

.

16.5 Ac

N.E. Fla

$310,000


A299761

42

 APARTMENTS - Built 1976, multi-story, concrete block new roof, rooms need rehab. Rents: 1-bed $575, 2-bed $675. 'C' class neighborhood.

0

17

24

0

13K

25%

28%

0.82 Ac

S.E. Fla

$550,000


A844171

17

 APARTMENTS + 3 HOUSES - Built 1984, tenants on monthy agreement. No deferred maintenance. Sale includes house on lake, 2 addtional houses, restaurant building. Rents: 13-Apartments $475, 3-Houses $600, $875, $875, Restaurant $500. NOI $96,000.

0

13

0

0

37K

90%

.

1 Ac

Central Fla

$625,000


A788961

16

 APARTMENTS - Lender approved Short Sale, built 1988, multi-story, corner lot, close to beach, 4-buildings, each 2/1 is 780 S.F., Avg. rent $650 including water, sewer, garbage, cable, each four-plex is on a separate real estate parcel.

0

0

16

0

29K

80%

.

0.91 Ac

N.W. Fla

$464,000


A654761

24

 APARTMENTS - Built 1985, half of the units renovated. Rents: $450- $550 including water, sewer. All units with washer/dryer connections. 2010 NOI $59,000

0

24

0

0

20K

84%

.

1 Ac

N.W. Fla

$468,000


Property #

Units

3 Florida Apartment Buildings for Sale

UNIT MIX

EFF

1 BR

2 BR

3 BR

$
Unit

Occup-
ancy-%

CAP
%

Lot
Acres

Map Color

Price

Agent / Phone

A827861

18

 APARTMENTS - Built 1986, multi-story, 3-buildings, no deferred maintenance, All units with washer/dryer connections. Tile floors, bedroom carpet. NOI $19,000.

0

0

18

0

27K

78%

10%

1 Ac

West Central Fla

$477,000


A855861

17

 APARTMENTS + MOTEL LICENSE - All Efficiencies, limited service, weekly rentals, NOI $48,000.

17

0

0

0

20K

80%

.

0.29 Ac

S.E. Fla

$333,000


A126171

8

 APARTMENTS - Bank owned, corner lot, rents start at $400, 2736 S.F.

0

0

0

0

15K

63%

.

0.08 Ac

N.E. Fla

$119,000


A789861

20

 APARTMENTS - Built 1964, multi-story, total renovation year 2009, complete capital improvements, no deferred maintenance. New roof, all New plumbing, interiors gutted with New kitchens, flooring, and appliances, New heat/air conditioning units. Unit are 477 S.F., NOI $85,000.

0

20

0

0

30K

100%

14%

.

N.E. Fla

$600,000


Property #

Units

4 Apartment Buildings for Sale

UNIT MIX

EFF

1 BR

2 BR

3 BR

$
Unit

Occup-
ancy-%

CAP
%

Lot
Acres

Map Color

Price

Agent / Phone

A421661

25

 APARTMENTS - Built 1976, refurbished, large apartments, multi-story, 20 year new roof, city water, city sewer, concrete block, new fire alarm system, new paint.Located close to Interstate I-95 and Florida Turnpike.

0

0

0

0

57K

75%

7.3%

0.59 Ac

S.E. Fla

$1,435,000


A110271

24

 APARTMENTS - Built 1975, swimming pool

0

13

11

0

65K

.

.

1 Ac

S.E. Fla

$1,560,000


A860371

34

 CONDO UNITS - In two buildings, built 1971, multi-story, gated lot. Located close to Interstate I-95. NOI $153,000

0

5

29

0

53K

100%

9%

.

S.E. Fla

$1,795,000


A907471

22

 APARTMENTS - Subsidzed government income. Section 8 approved. 12,700 sq. ft. NOI $140,000

0

2

20

0

54K

100%

11.7%

0.39Ac

S.E. Fla

$1,200,000


A455471

24

 APARTMENTS - Built 1925, multi-story, concrete block. Each unit with separate electric meters, wall AC, hot water heater. New roof, fire alarms, refurbished hallways, most units including kitchens, bathrooms, appliances, flooring. On-site laundry room.

18

2

4

0

41K

96%

8.5%

0.31 Ac

S.E. Fla

$995,000


A110471

105

 APARTMENTS - 84,000 S.F. Concrete block, no deferred maintenance, accepts government assisted tenants, community center, office, laundry facility. Located near intersection of two major artery roads.

0

28

72

12

18K

90%

18%

4.5 Ac

North Fla

$1,950,000


A599271

95

 APARTMENTS - Built 1972, multi-story, concrete block, also includes four 4-bedroom units. Located close to Interstate I-75

35

22

18

15

11K

21%

.

4.5 Ac

Central Fla

$1,150,000


Property #

Units

5 Apartment Buildings for Sale

UNIT MIX

EFF

1 BR

2 BR

3 BR

$
Unit

Occup-
ancy-%

CAP
%

Lot
Acres

Map Color

Price

Agent / Phone

A839471

15

 APARTMENTS - Multi-story, enclosed hallway, renovated in 2004 with new kitchens and bathrooms. Tile floors, new paint, new lighting, eat-in bars, central heat and air conditioning, new dual pane windows, new stucco, new awnings, landscaping with irrigation system. Half the units have been re-renovated and are ready to rent, 7 units have tenants with annual lease.

2

12

0

0

47K

60%

.

0.22 Ac

West Central Fla

$658,000


A328471

8

 APARTMENTS - Approximately 576 sq. ft. per apartment, close to downtown. NOI $34,000.

0

8

0

0

36K

.

11.9%

.

S.E. Fla

$290,000


A868471

8

 APARTMENTS - Two buildings, concrete block, wall AC units. Water, sewer, trash collection paid by landlord. Off-street parking. NOI $27,000.

0

2

6

0

35K

75%

9.6%

0.27 Ac

S.E. Fla

$280,000


A078471

16

 APARTMENTS + 2 HOUSES - Houses and apartments are on adjoining lots, minimum deferred maintenance, owner financing not available. NOI $62,000

0

0

0

0

35K

93%

11.6%

2 Ac

N.E. Fla

$565,000


A649471

10

 APARTMENTS - Concrete block, units approximately 500 sq. ft., 10 water meters, 10 electric meters. All units refurbished within 5 years. Each unit has tile floors, new kitchen cabinets, new bathroom sinks, toilets and vanities.Current code only allows use of 4 units.

0

0

10

0

5K

0%

.

0.54 Ac

East Central Fla

$49,000


A340571

12

 APARTMENTS - Four buildings with 3 units each. 900 sq. ft. 2-bed/1-bath/laundry room, rennovations in progress.

0

0

12

0

12K

0%

.

0.37 Ac

West Central Fla

$259,900


Property #

Units

6 Apartment Buildings for Sale

UNIT MIX

EFF

1 BR

2 BR

3 BR

$
Unit

Occup-
ancy-%

CAP
%

Lot
Acres

Map Color

Price

Agent / Phone

A069571

44

 BANK OWNED APARTMENTS - 25,100 S.F. concrete block, gable roofs,

8

12

22

2

K

.

11.3%

.

W. Central Fla

$975,000


A893571

96

 APARTMENTS - 70,968 S.F. Includes nine 2-story buildings, concrete block, all roofs new, upgraded electric panels, new plumbing, all bathrooms new, new fence, new windows, laundry room, playground.

0

0

22

74

K

90%

12%

2.5 Ac

N.E. Fla

$CALL


A952471

80

 APARTMENTS - 48,000 S.F. Section 8 subsidized rents, built 1951

0

0

0

0

K

100%

11%

4.6 Ac

N.E. Fla

$CALL


A115271

25

 APARTMENTS - 10,624 S.F. Updated bathrooms and appliances, new paint, new tile, new roof 2006, new paving, city sewer. NOI $121,000

0

25

0

0

36K

92%

13%

Ac

S.E. Fla

$900,000


A433341

101

 APARTMENTS - Built 1965, 2-stories, pool, 10 buildings, renovation in progress. Rents $550, $650, $750. CAP 11%.

0

28

45

28

29K

.

11%

6 Ac

East Central Fla

$2,900,000


A562071

29

 APARTMENTS - 17,538 S.F. Built 1975, includes 27 apartment units with central AC, coin laundry PLUS 2 houses 3/2 with 1100 S.F. and 3/1 1-car garage with 1360 S.F. 290 FT road frontage. NOI $103,000

0

19

8

0

36K

100%

12.5%

1.3 Ac

Central Fla

$1,050,000


Property #

Units

7 Apartment Buildings for Sale

UNIT MIX

EFF

1 BR

2 BR

3 BR

$
Unit

Occup-
ancy-%

CAP
%

Lot
Acres

Map Color

Price

Agent / Phone

A054671

18

 APARTMENTS - 11,486 S.F. Built 1962, multi-story, renovated 2010 including interiors and Air Conditioning. 1 BR units are 650 S.F., 2 BR units are 850 S.F.

0

14

4

0

11K

60%

.

0.31 Ac

W. Central Fla

$555,000


A974671

8

 LENDER OWNED APARTMENTS - 5,512 S.F. Built 1967, two single-story buildings.

0

0

8

0

25K

.

.

0.32 Ac

S.E. Fla

$200,000


A505671

16

 APARTMENTS - 15,712 S.F. Renovated interiors, plumbing and new roofs, 8 duplex buildings, NOI $47,000

0

0

0

0

31K

80%

9.6%

2.5 Ac

N. Central Fla

$490,000


A876671

9

 APARTMENTS - 7,722 S.F. Built 1967, concrete block, city water, city sewer, 3 buildings with 3 units each. NOI $79,000.

0

0

9

0

58K

100%

10.8%

0.59 Ac

S.W. Fla

$525,000


A907671

14

 LENDER OWNED APARTMENTS + DUPLEXS - Ten apartment units, built 1985, on 0.82 acres, 6250 sq. ft. Sale also includes two duplex units, 3,800 sq. ft., frame construction with vinyl siding, gable roofs. Sale also includes 2 duplexes built in 1982 on 0.48 acres consisting of four units, 2-bed/2-bath 950 S.F. each, concrete block construction, gable roofs. Rents were 6 @ $400, 1 @ $450, 3 @ $550, 4 @ $575. Currently vacant, some need appliances.

6

1

7

0

25K

0%

10.1%

1.3 Ac

W. Central Fla

$350,000


A294671

57

 WATERFRONT APARTMENTS - 28,000 S.F. Built 1987, six one story buildings, cul-de-sac, newly renovated, completely fenced, laundry room, management office. NOI $252,000

0

0

0

0

46K

.

9.5%

3.4 Ac

S.E. Fla

$2,650,000


A967671

50

 WATERFRONT APARTMENTS - 45,212 S.F., Built 1972, garden style, concrete block, flat roofs, swimming pool, on-site laundry, dock on the bay. Sale includes submerged land for possible added marina. Proposed plans for 20 boat slips. NOI $361,000

0

4

40

6

77K

92%

9.3%

1.6 Ac

W. Central Fla

$3,850,000


A577671

16

 BANK OWNED CONDO BUILDING - 47, 520 S.F. Needs construction completion. One unit is completed with wood floors, granite tops, 10 foot ceilings, crown molding, stainless appliances. All other units are completed up to point of dryall. First level is garage parking, elevator room, Second and third floors are 8 units each with 1600 sq. ft. living space per each unit. Eight units 3-bed/2-bath and other Eight units are 2-bed/2.bath.

0

0

8

8

21K

0%

.

.

W. Central Fla

$330,000


A787671

43

 APARTMENTS - 26,752 S.F. Garden style, seven 1 and 2-story buildings, average condition. Mix: 8 Efficiency @ $450 w/ 312 sq.ft.; 28 1/1 @ $495 w/ 417 sq. ft., 7 1/1 @ $595 w/ 719 sq. ft.

8

35

0

0

22K

.

.

2.84 Ac

Central. Fla

$950,000


Information shown is believed accurate but not warranted. All figures U.S. Dollars unless shown otherwise.


INFORMATION REQUEST FORM

 1. (all required) First Name Last Name

 2. Status: (required) Buyer, Lic. Real Estate Agent

 3. Company Name (if any):

 4. Street Address: (required) Apt.No:

 5. (all required) City: State: Zip:

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10. E-mail address: (required)

_________________________________________________________________

 11. Type of purchase: (check all types considered):
 Hotel-Motel, Marina, Shopping Center/Strip Plaza, Apartments,
 Mobile Home Park, Office Building, Self-storage, Convenience Store,
 Warehouse-Manufacturing, Commercial Land, Assisted Living Facility,
 Gambling Related, Quick Turn Investments under 1-year, REO Packages,
 Other Types - specify below

.

 12. Preferred Florida area:

 13. Minimum units: , Maximum units:

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 16. Cash Available to purchase: (required) $ U.S. DOLLARS

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 18. Financing: (required) Want seller financing, Have my own financing available

 19. If seller financing is wanted, can you provide a personal financial statement
 prepared by an accountant: Yes, No (required for seller financing)

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