oasis apartments & self storage for sale · 1988, and a house built in 1988. all of the units...

Presented By

Christopher Minchin

[email protected]

Oasis Apartments and Self Storage is a gated community that features 90 storage unitsand 7 apartments units with a community swimming pool. The property also features anon-site rental office and a rentable office space. The property consists of two parcelsthat total 4.37 acres of land. All of the buildings are made up of concrete blockconstruction and pitched shingle roofs.

The storage units come in a variety of sizes including 5'x10', 10'x10', 10'x20' and 10'x30'.Leases are available on a month to month basis. In addition to the self storage, Oasisalso rents out secure RV and vehicle storage space on a monthly basis.

The apartment units are made up of a two-story quadplex built in 1977, a duplex built in1988, and a house built in 1988. All of the units feature central A/C, dishwashers, washer/dryer hookups, free storage unit space. Also tenants enjoy free community amenitiessuch as a BBQ areas and a sparkling swimming pool.

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

• On-Site Swimming Pool for Apartment Tenants• Quiet, Secure, 24/7 Emergency Maintenance• Close to Schools, Hospitals, Restaurants and Shopping• Apartment Amenities include Dishwashers, Laundry Hookups, BBQ Areas• RV & Vehicle Storage• U-Haul Rentals

OFFERING SUMMARY

Sale Price: $1,250,000

Price / SF: $61.82

# Of Storage Units: 90

# Of Apt Units: 7

Cap Rate: 6.8%

NOI: $84,976

Lot Size: 4.37 Acres

Year Built: 1977-1988

Building Size: 20,219 SF

Zoning: Multifamily,Warehouse, Office

For SaleMultifamily Property

Oasis Apartments & SelfStorage2008 Griffin Road, Leesburg, FL 34748

Presented By

Christopher Minchin

[email protected]



PROPERTY NAME: Oasis Apartments & Self Storage

PROPERTY ADDRESS: 2008 Griffin RoadLeesburg, FL 34748

APN: 15-19-24-000400007500 & 15-19-24-000400004100

TYPE OF OWNERSHIP: Fee Simple

LOT SIZE: 4.37 AC

BUILDING SIZE: 20,219 SF

ZONING: Multifamily/Warehousing

PARKING SPACES: 4 @ Office. 9 @ Apartments + 2-Car Garage. Additional Parking for Boats, RV's, etc..

PARKING SURFACE: Asphalt

YEAR BUILT: 1985

NUMBER OF BUILDINGS: 10

NUMBER OF STORIES: 1 & 2

NUMBER OF UNITS: 97

FOUNDATION: Concrete Slab

CONSTRUCTION TYPE: Concrete Block

ROOF: Pitched Shingle

HVAC: Central Air & Heat

WATER METER: Landlord Pays.

ELECTRIC METER: Landlord Pays for Storage & Office. Apartments Pay Their Own Electricity.

LANDSCAPING: Mature

TOPOGRAPHY: Rolling Hills

Presented By

Christopher Minchin

[email protected]





Presented By

Christopher Minchin

[email protected]

INCOME SUMMARY PER SF

Rental Income (Apartments) $66,910 $3.31

Rental Income (Storage Units) $89,209 $4.41

Retail Items & Auction $1,503 $0.07

Late Fees $3,614 $0.18

Misc $3,909 $0.19

GROSS INCOME $165,146 $8.17

EXPENSE SUMMARY PER SF

Real Estate Taxes $14,937 $0.74

Insurance $9,633 $0.48

Utilities $5,965 $0.30

Payroll - Office Manager $33,280 $1.65

Repairs $13,155 $0.65

Pool Maintenance $2,112 $0.10

Security $1,083 $0.05

GROSS EXPENSES $80,169 $3.97

NET OPERATING INCOME $84,976 $4.20

Financials based on Trailing-12 (December 2018-November 2019)

Presented By

Christopher Minchin

[email protected]

INVESTMENT OVERVIEW

Price $1,250,000

Price per Unit $12,886

GRM 7.6

CAP Rate 6.8%

Cash-on-Cash Return (yr 1) 6.15 %

Total Return (yr 1) $38,540

Debt Coverage Ratio 1.29

OPERATING DATA

Gross Scheduled Income $165,146

Other Income -

Total Scheduled Income $165,146

Vacancy Cost $0

Gross Income $165,146

Operating Expenses $80,169

Net Operating Income $84,976

Pre-Tax Cash Flow $19,210

FINANCING DATA

Down Payment $312,500

Loan Amount $937,500

Debt Service $65,766

Debt Service Monthly $5,480

Principal Reduction (yr 1) $19,329

"Debt Service" is based on Buyer obtaining Conventional Financing with 75% LTV, 5% Fixed Interest, 25 Year Amortization, 10 Year Balloon.



Presented By

Christopher Minchin

[email protected]



Presented By

Christopher Minchin

[email protected]

* Demographic data derived from 2010 US Census

POPULATION 1 MILE 5 MILES 10 MILESTOTAL POPULATION 2,832 42,624 145,481MEDIAN AGE 45.2 46.1 55.9MEDIAN AGE (MALE) 46.4 45.3 55.5MEDIAN AGE (FEMALE) 43.8 46.3 56.3

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILESTOTAL HOUSEHOLDS 1,187 18,201 66,759# OF PERSONS PER HH 2.4 2.3 2.2AVERAGE HH INCOME $46,490 $50,610 $54,903AVERAGE HOUSE VALUE $165,699 $179,338 $209,262

ETHNICITY 1 MILE 5 MILES 10 MILES% HISPANIC 8.7% 6.2% 5.7%

RACE 1 MILE 5 MILES 10 MILES% WHITE 61.0% 77.3% 86.6%% BLACK 30.2% 16.3% 9.3%% ASIAN 1.0% 1.4% 0.9%% HAWAIIAN 0.0% 0.0% 0.0%% INDIAN 0.4% 0.4% 0.3%% OTHER 5.2% 2.9% 1.6%



oasis apartments & self storage for sale · 1988, and a house built in 1988. all of the units...

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