Fort Walton 40 Portfolio 9 Multifamily Properties Offered at $10,399,604 CAD in Multiple Locations

The Hull Multifamily Advisors (HMA) are pleased to present the exclusive offering of the Fort Walton Beach 40 Portfolio in Fort Walton Beach, Shalimar, and Niceville, FL. This 9 Property, 40- Unit Portfolio consists of Hammocks Townhomes (22 Units), Turkey Creek Townhomes (10 Units), 4 Individual Townhomes, and 4 Single Family Homes, which are all located within 5 miles of each other.

Built in 1981-2000, this diverse portfolio consists of (32) 1100 SF Two Bed One and a Half Bath Townhomes, (2) 1550 SF Three Bed Two and a half bath Townhomes, (1) 1512 SF Three Bed Two and Half Bath Townhome, (1) 997 SF Two Bed Two Bath Townhome, (1) 1054 SF Three Bed Two Bath Single Family Home, (1) 1100 SF Three Bed Two Bath Single Family Home, (1) 1080 SF Three Bed Two Bath Single Home, and (1) 1211 SF Three Bed Two and a Half Bath Single Family Home.

Notable for investors, this asset has seen a significant amount of recent capital improvements with new roofs (34/40 Units), parking lots (Hammocks Townhomes), decks (Turkey Creek Townhomes and 32 7th Ave #126), HVACs (16/40 Units), and Hot Water Heaters(11/40 Units), and more. The Fort Walton Beach 40 Portfolio boasts several amenities such as individual entrances, ample parking, and washer/dryer hookups just to name a few. Additionally, all units are individually metered for electricity and water/sewer, with tenants being responsible for all utilities.

The Fort Walton Beach 40 Portfolio is being offered to the market as a stabilized cash flowing asset; however, several value-add opportunities present themselves. Most notable, this asset has significantly below market rents, with occupancy levels historically averaging near 100%. After doing an in-depth rent comparable study (located in the OM), it has been determined that current average two-bedroom unit rents are $150-$200 below similar competing properties, while similar competing three bedroom units are achieving $50-$100 higher rents. This leaves investors with an opportunity to increase rents to market and further increase not only cashflow, but also significantly increase value. Due to the attractive location and significant historic cash flow, this opportunity offers the marketplace a significant value add, cash flowing asset. Please contact HMA for more information before this opportunity is gone.