Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S...

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900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 Harbourside Sunsets Condo Portfolio Property Highlights: Year 1 Scheduled Income $274,800 Year 1 Cap Rate 10.29% Year 1 NOI $183,002 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728 [email protected] 100UNITS.COM 617 EAST COLONIAL DRIVE, SUITE B ORLANDO, FL 32803

Transcript of Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S...

Page 1: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

Harbourside Sunsets Condo Portfolio

Property Highlights:

Year 1 Scheduled Income $274,800

Year 1 Cap Rate 10.29%

Year 1 NOI $183,002

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Page 2: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

Executive Summary

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

PROPERTY OVERVIEW

100Units.com presents Harbourside Sunsets Condo Portfolio, located right nearthe Iconic Daytona Beach Shores. This portfolio is 20 condo units out of the total of39 condo units in the property giving the buyer 51% ownership and control of theHOA. There is a total of 3 buildings consisting of 1 two-story building and 2three-story buildings. The unit mix is 14 two bed one bath units and 6 two bed twobath units. The two bedroom two bath units are water facing. This property wasbuilt of concrete block construction and features river access, a dock, and severalboat slips. The boat slips are owned by the HOA and are transient.Ideally located minutes from the Iconic Daytona Beach shores, under five minutesto Bethune Cookman University. Under twenty minutes to Daytona InternationalSpeedway, Daytona Beach Golf Club and Embry-Riddle Aeronautical University.Amazon is building their new Distribution Center just 5 miles away from theproperty.

PROPERTY HIGHLIGHTS

• Year 1 Scheduled Income $274,800

• Year 1 Cap Rate 10.29%

• Year 1 NOI $183,002

• Concrete Block Construction

• New Roof Installed in 2019

• Freshly Painted March 2020

• Desirable Unit Mix

• Located on The Halifax River

• Dock with Boatslips

• Minutes Away From Daytona Beach

OFFERING SUMMARY

Sale Price: $1,778,000

Price / Unit: $88,900

Price / SF: $101.06

Number Of Units: 20

Year 1 Cap Rate: 10.58%

Year 1 NOI: $188,162

Lot Size: 1.38 Acres

Building Size: 33,960 SF

Market: Daytona Beach

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Table of Contents

CONFIDENTIALITY & DISCLAIMER

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

All materials and information received or derived from 100Units.com its directors, officers, agents, advisors, affiliates and/or any third partysources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance orlack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projectedfinancial performance of the property for any party’s intended use or any and all other matters.

Neither 100Units.com its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as toaccuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source,whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence todetermine these and other matters of significance to such party. 100Units.com will not investigate or verify any such matters or conduct duediligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspectionsand investigations including through appropriate third party independent professionals selected by such party. All financial data should beverified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independentprofessionals. 100Units.com makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financialdata or assumptions. 100Units.com does not serve as a financial advisor to any party regarding any proposed transaction. All data andassumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance.Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established ator increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancyfactors and other issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified publicaccountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition ofthe property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriateengineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by 100Units.com incompliance with all applicable fair housing and equal opportunity laws.

4FINANCIAL ANALYSIS

11PROPERT Y INFORMATION

16LOC ATION INFORMATION

22SALE COMPARABLES

26RENT COMPARABLES

31DEMOGRAPHICS

34100UNITS.COM

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Harbourside Sunsets Condo Portfolio900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

FINANCIAL ANALYSISUnit Mix S ummar y

Income & Expenses

Financial S ummar y

Loc ation Photos

Proper ty Description

Proper ty Details

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Page 5: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

Enter summary here...

Unit Mix Summary

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

FINANCIAL ANALYSIS

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

UNIT TYPE COUNT % TOTAL SIZE (SF) RENT RENT/SF MIN RENT MAX RENT MARKET RENT MARKET RENT/SF

2 Bed 1 Bath 14 70.0 841 $890 $1.06 $735 $1,000 $1,100 $1.31

2 Bed 2 Bath 6 30.0 870 $950 $0.98 $875 $1,100 $1,250 $1.29

Totals / Averages 20 100% 17,594 $18,160 $1.03 $15,540 $20,600 $22,900 $1.30

Page 6: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

INCOME SUMMARY CURRENT PER UNIT YEAR 1 PER UNIT

TOTAL SCHEDULED INCOME $217,920 $10,896 $274,800 $13,740

VACANCY $10,896 $544 $13,740 $687

GROSS INCOME $207,024 $10,351 $261,060 $13,053

EXPENSE SUMMARY CURRENT PER UNIT YEAR 1 PER UNIT

Real Estate Taxes $12,886 $644 $14,508 $725

Liability Insurance $2,000 $100 $2,000 $100

Management Fee $7,008 $350 $8,640 $432

Repairs & Maintenance $4,550 $227 $4,550 $227

HOA Dues $79,200 $3,960 $43,200 $2,160

GROSS EXPENSES $105,644 $5,282 $72,898 $3,644

NET OPERATING INCOME $101,380 $5,069 $188,162 $9,408

OPERATING EXPENSE RATIO 51% 51% 28% 28%

Income & Expenses

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

FINANCIAL ANALYSIS

NOTE: Reduction of HOA dues is achieved by reduction in insurance cost effective 5/30/2020 and by the buyer sub metering the water (currently$60,000 annually of the HOA budget) and HOA billing back each unit.

Page 7: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

INVESTMENT OVERVIEW CURRENT YEAR 1

Price $1,778,000 $1,778,000

Price per Unit $88,900 $88,900

GRM 8.2 6.5

CAP Rate 5.7% 10.6%

Cash-on-Cash Return (yr 1) 5.23 % 21.5 %

Total Return (yr 1) $48,890 $135,672

Debt Coverage Ratio 1.38 2.56

OPERATING DATA CURRENT YEAR 1

Gross Scheduled Income $217,920 $274,800

Total Scheduled Income $217,920 $274,800

Vacancy Cost $10,896 $13,740

Gross Income $207,024 $261,060

Operating Expenses $105,644 $72,898

Net Operating Income $101,380 $188,162

Pre-Tax Cash Flow $27,908 $114,690

FINANCING DATA CURRENT YEAR 1

Down Payment $533,400 $533,400

Loan Amount $1,244,600 $1,244,600

Interest Rate 4.25% 4.25%

Amortization Period 30 yrs 30 yrs

Debt Service $73,472 $73,472

Debt Service Monthly $6,122 $6,122

Principal Reduction (yr 1) $20,982 $20,982

Financial Summary

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

FINANCIAL ANALYSIS

Page 8: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

Location Photos

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

FINANCIAL ANALYSIS

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Page 9: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

Property Description

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

FINANCIAL ANALYSIS

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

LOCATION OVERVIEW

Branded as ‘The World’s Most Famous Beach’ and ‘The WorldCenter of Racing’ it’s easy to understand why Daytona Beachhas long been the location of choice among tourists as well asa business. NASCAR, International Speedway Corporation,Ladies Professional Golf Association (LPGA), the U.S. TennisAssociation (USTA) have all selected Daytona Beach for theircorporate headquarters.

Conveniently located just 51 miles northeast of Orlando, 86miles southeast of Jacksonville, and 242 miles northwest ofMiami Daytona’s moderate year-round temperatures, highlyskilled workforce, and low cost of living continues to make it astrong contender for a variety of businesses, includingtechnology, manufacturing, insurance, automotive, medical,military and land development.

The Daytona Beach region is experiencing groundbreakinggrowth. A definite advantage for personal and businessrelocation the area is home to six universities and colleges,state of the art hospitals, a nationally recognized K-12 system,a nationally accredited museum, an international airport, andtwo major interstate highways.

Page 10: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Property Details

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

FINANCIAL ANALYSIS

PROPERTY NAME: Harbourside Sunsets Condo Portfolio

PROPERTY ADDRESS: 900 S Peninsula DriveDaytona Beach, FL 32118

TYPE OF OWNERSHIP: Fee Simple

LOT SIZE: 1.38 AC

BUILDING SIZE: 17,594 SF

BUILDING CLASS: B

PARKING SURFACE: Ample Parking

YEAR BUILT: 1971

NUMBER OF BUILDINGS: 3

NUMBER OF STORIES: 2 & 3

NUMBER OF UNITS: 20

FOUNDATION: Slab

CONSTRUCTION TYPE: Concrete Block

ROOF: Pitched Shingle New 2019

HVAC: Central

SEPARATE WATER METERS: No

SEPARATE ELECTRIC METERS Yes

LANDSCAPING: Mature

Page 11: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

Harbourside Sunsets Condo Portfolio900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

PROPERTY INFORMATIONComplete Highlights

Proper ty Photos

Proper ty Photos

Proper ty Photos

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Page 12: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Complete Highlights

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

PROPERTY INFORMATION

PROPERTY HIGHLIGHTS

• Year 1 Scheduled Income $274,800

• Year 1 Cap Rate 10.29%

• Year 1 NOI $183,002

• Concrete Block Construction

• New Roof Installed in 2019

• Freshly Painted March 2020

• Desirable Unit Mix

• Located on The Halifax River

• Dock with Boatslips

• Minutes Away From Daytona Beach

• Individually Metered for Electric

• River Access

• 5 Miles from Daytona Amazon Distribution Center

Page 13: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

Property Photos

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

PROPERTY INFORMATION

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Page 14: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

Property Photos

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

PROPERTY INFORMATION

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Page 15: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

Property Photos

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

PROPERTY INFORMATION

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Page 16: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

Harbourside Sunsets Condo Portfolio900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

LOCATION INFORMATIONLoc ation Photos

Regional Map

Loc ation Maps

Aerial Map

Retailer Map

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Page 17: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

Location Photos

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

LOCATION INFORMATION

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Page 18: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Harbourside Sunsets CondoPortfolio

Regional Map

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

LOCATION INFORMATION

Page 19: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Location Maps

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

LOCATION INFORMATION

Page 20: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Aerial Map

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

LOCATION INFORMATION

Page 21: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Retailer Map

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

LOCATION INFORMATION

Page 22: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

Harbourside Sunsets Condo Portfolio900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

SALE COMPARABLESS ale Comps

S ale Comps S ummar y

S ale Comps Map

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Page 23: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

Sale Comps

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

SALE COMPARABLES

SUBJECT PROPERTY

900 S Peninsula Drive | Daytona Beach, FL 32118

$1,778,000Sale Price: 17,594 SFBuilding SF:

$101.06Price PSF: 20No. Units:

$88,900Price / Unit: 6.47GRM:

10.58%Cap: $188,162NOI:

LENOX APARTMENTS508 Lenox Ave | Daytona Beach, FL 32118

$850,000Sale Price: 1971Year Built:

5,330 SFBuilding SF: $159.47Price PSF

8No. Units $106,250Price / Unit

07/16/2018Closed:

1

1

Status: SOLD

HALIFAX APARTMENTS245 N Halifax Ave | Daytona Beach, FL 32118

$1,450,000Sale Price: 1948Year Built:

12,084 SFBuilding SF: $119.99Price PSF

17No. Units $85,294Price / Unit

02/28/2018Closed:

2

2

Status: SOLD

TAHITIAN VILLAS210 Ocean Ave | Port Orange, FL 32129

$800,000Sale Price: 1951Year Built:

12,014 SFBuilding SF: $66.59Price PSF

9No. Units $88,888Price / Unit

02/26/2018Closed:

3

3

Status: SOLD

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

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JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

SUBJECT PROPERTY PRICE BLDG SF PRICE/SF PRICE/UNIT # OF UNITS

Harbourside Sunsets CondoPortfolio900 S Peninsula DriveDaytona Beach, FL 32118

$1,778,000 17,594 SF $101.06 $88,900 20

SALE COMPS PRICE BLDG SF PRICE/SF PRICE/UNIT # OF UNITS CLOSE

1Lenox Apartments508 Lenox AveDaytona Beach, FL 32118

$850,000 5,330 SF $159.47 $106,250 8 07/16/2018

2Halifax Apartments245 N Halifax AveDaytona Beach, FL 32118

$1,450,000 12,084 SF $119.99 $85,294 17 02/28/2018

3Tahitian Villas210 Ocean AvePort Orange, FL 32129

$800,000 12,014 SF $66.59 $88,888 9 02/26/2018

TOTALS/AVERAGES PRICE PRICE/SF PRICE/UNIT # OF UNITS$1,033,333 $105.35 $91,203 11.33

Sale Comps Summary

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

SALE COMPARABLES

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JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

900 S Peninsula Drive | Daytona Beach, FL 32118SUBJECT PROPERTY

Sale Comps Map

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

SALE COMPARABLES

1 508 Lenox AveDaytona Beach, FL 32118

LENOX APARTMENTS 2 245 N Halifax AveDaytona Beach, FL 32118

HALIFAX APARTMENTS 3 210 Ocean AvePort Orange, FL 32129

TAHITIAN VILLAS

Page 26: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

Harbourside Sunsets Condo Portfolio900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

RENT COMPARABLESRent Comps

Rent Comps S ummar y

Rent Comps Map

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Page 27: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

Rent Comps

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

RENT COMPARABLES

GOLFVIEW COMMUNITY

Daytona Beach, FL 32119640 Northern Rd

1

1972Year Built: 149,396 SFBldg Size:

3.54 ACLot Size: 97No. Units:

$1.10Avg. Rent/SF: 852 SFAvg. Size:

$933Avg. Rent:

UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF

2 Bed 1 Bath 97 100 852 $933 $1.10Liquid error: no implicit conversion from nil to integer

TOTAL/AVG 97 100% 852 $933 $1.10

1 SUBJECT PROPERTY

Daytona Beach, FL 32118900 S Peninsula Drive

1.38 ACLot Size: 20No. Units:

$1.03Avg. Rent/SF: $908Avg. Rent:

879 SFAvg. Size:

UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF

2 Bed 1 Bath 14 70.0 841 $890 $1.06

2 Bed 2 Bath 6 30.0 970 $950 $0.98Liquid error: no implicit conversion from nil to integer

TOTAL/AVG 20 100% 879 $908 $1.03

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Page 28: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

Rent Comps

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

RENT COMPARABLES

COLONIAL LANE APARTMENTS

Daytona Beach, FL 321141140 S Ridgewood Ave

2

1965Year Built: 44,438 SFBldg Size:

1.73 ACLot Size: 46No. Units:

$1.09Avg. Rent/SF: 606 SFAvg. Size:

$662Avg. Rent:

UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF

1 Bed 1 Bath 42 91.3 561 $642 $1.14

2 Bed 1 Bath 4 8.7 1,089 $877 $0.81Liquid error: no implicit conversion from nil to integer

TOTAL/AVG 46 100% 606 $662 $1.09

2 150 COATES ST

Daytona Beach, FL 32118150 S Coates St

3

1920Year Built: 4,870 SFBldg Size:

0.07 ACLot Size: 7No. Units:

$1.44Avg. Rent/SF: 695 SFAvg. Size:

$1,000Avg. Rent:

UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF

Studio 4 57.1 500 $932 $1.86

1 Bed 1 Bath 1 14.3 750 $1,007 $1.34

2 Bed 1 Bath 2 28.6 1,060 $1,133 $1.07Liquid error: no implicit conversion from nil to integer

TOTAL/AVG 7 100% 695 $1,000 $1.44

3

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Page 29: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

SUBJECT PROPERTY RENT/SF AVAILABLE SF BLDG SF# OFUNITS

Harbourside Sunsets CondoPortfolio900 S Peninsula DriveDaytona Beach, FL 32118

$1.03 17,594 SF 17,594 SF 20

RENT COMPS RENT/SF AVAILABLE SF BLDG SF# OFUNITS

1Golfview Community640 Northern RdDaytona Beach, FL 32119

$1.10 82,644 SF 149,396 SF 97

2Colonial Lane Apartments1140 S Ridgewood AveDaytona Beach, FL 32114

$1.09 27,918 SF 44,438 SF 46

3150 Coates St150 S Coates StDaytona Beach, FL 32118

$1.44 4,870 SF 4,870 SF 7

RENT/SF AVAILABLE SF BLDG SF# OFUNITS

TOTALS/AVERAGES $1.21 38,477 SF 66,235 SF 50

Rent Comps Summary

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

RENT COMPARABLES

Page 30: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Rent Comps Map

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

RENT COMPARABLES

900 S Peninsula Drive | Daytona Beach, FL 32118SUBJECT PROPERTY

1 640 Northern RdDaytona Beach, FL 32119

GOLFVIEW COMMUNITY 2 1140 S Ridgewood AveDaytona Beach, FL 32114

COLONIAL LANE APARTMENTS 3 150 S Coates StDaytona Beach, FL 32118

150 COATES ST

Page 31: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

Harbourside Sunsets Condo Portfolio900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

DEMOGRAPHICSDemographics Repor t

Demographics Map

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Page 32: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Demographics Report

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

DEMOGRAPHICS

* Demographic data derived from 2010 US Census

1 MILE 3 MILES 5 MILES

Total population - Hispanic 295 2,244 5,508% Hispanic 5.9% 5.4% 5.2%

1 MILE 3 MILES 5 MILES

Total population - White 3,364 23,852 72,692% White 67.6% 57.8% 69.2%

Total population - Black 1,230 15,097 26,940% Black 24.7% 36.6% 25.7%

Total population - Asian 151 730 1,765% Asian 3.0% 1.8% 1.7%

Total population - Hawaiian 0 15 62% Hawaiian 0.0% 0.0% 0.1%

Total population - Indian 8 105 249% Indian 0.2% 0.3% 0.2%

Total population - Other 109 562 1,458

% Other 2.2% 1.4% 1.4%

1 MILE 3 MILES 5 MILES

Total households 2,245 17,509 44,026

Total persons per hh 2.2 2.4 2.4

Average hh income $42,561 $41,140 $43,129

Average house value $268,013 $197,685 $192,841

1 MILE 3 MILES 5 MILES

Total population 4,974 41,254 104,991

Median age 41.0 38.8 40.9

Median age (male) 38.6 37.8 39.2

Median age (female) 43.2 39.6 43.1

Page 33: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

Demographics Map

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

DEMOGRAPHICS

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

* Demographic data derived from 2010 US Census

POPULATION 1 MILE 3 MILES 5 MILESTOTAL POPULATION 4,974 41,254 104,991MEDIAN AGE 41.0 38.8 40.9MEDIAN AGE (MALE) 38.6 37.8 39.2MEDIAN AGE (FEMALE) 43.2 39.6 43.1

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILESTOTAL HOUSEHOLDS 2,245 17,509 44,026# OF PERSONS PER HH 2.2 2.4 2.4AVERAGE HH INCOME $42,561 $41,140 $43,129AVERAGE HOUSE VALUE $268,013 $197,685 $192,841

ETHNICITY 1 MILE 3 MILES 5 MILES% HISPANIC 5.9% 5.4% 5.2%

RACE 1 MILE 3 MILES 5 MILES% WHITE 67.6% 57.8% 69.2%% BLACK 24.7% 36.6% 25.7%% ASIAN 3.0% 1.8% 1.7%% HAWAIIAN 0.0% 0.0% 0.1%% INDIAN 0.2% 0.3% 0.2%% OTHER 2.2% 1.4% 1.4%

Page 34: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

Harbourside Sunsets Condo Portfolio900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

100UNITS.COMMeet the Team

at 100units.com

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Page 35: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

JUST REDUCED: 8 UNITS IN POINCIANA, L

Meet the Tea

Joe LaFleur

Mulitfamily Investment Advisor

Nikky Schmidt

Transaction Coordinator

Stacy Nembhard

Office Assistant

Leon Orange

Photographer / Marketing Assistant

Johnny Pullman

Mulitfamily Investment Advisor

Kevin Erwin

Mulitfamily Investment Advisor

Meet the Team

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

100UNITS.COM

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803

Page 36: Harbourside Sunsets Condo Portfolio - CityFeet · HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118 JOE LAFLEUR Multifamily Investment Advisor 407.504.1728

At 100Units.com, we know that selling and buying multi-family properties can be a challenging process. Not only can this process be time consuming, but it can also become increasingly costly – especially when you don’t have a trusted expert by your side. That’s why at 100Units.com, we are committed to providing our clients with the confidence and peace of mind that comes from working with a group of highly driven and passionate multifamily property investment advisors. Our specialized team simplifies the process of locating and purchasing apartment buildings by handling the research, analytics, and insights on your behalf. We take the time to evaluate your investment goals to help you attain the long-term success and results you want.

For Sellers Marketing Strategy We combine comprehensive market research, state-of-the-art technology, and communications systems to target optimal buyers for your property. From print to multimedia, we’ll customize a targeted campaign for your property that will maximize its value. Network of Buyers We work hard to earn the trust and confidence of buyers. In return, we have a vast network of domestic and international clients whom are always interested in purchasing additional properties. Clear Communication Communication is crucial for the success of any real estate transaction. As your listing agent, we will always keep you informed on the next step, what the other side is doing, and whether there are any red flags you should be concerned about. Proven Process Our objective as your multifamily advisor is to help you achieve your investments goals. We’ll lend you our unique perspective on your situation and provide you with real time market analysis to help you stay ahead of every changing market trends. We’ll also collect, study, evaluate, and share market data on an ongoing basis to help you make timely and informed decisions. From determining the listing price to conducting the closing, we’ll facilitate a smooth transaction for you.

For Buyers Expertise As well-established experts of the industry, we have a firm understanding of the local market and can advise you on the most potentially profitable properties available for purchase. Our focus is to work on behalf of your interests and get you the best results for your investment. Turnkey Solution Every real estate investor knows that the real work happens after closing. Our partnership with Florida Realty Investments ensures that every client has the comprehensive property management solutions they need to run their properties successfully. Opportunities As your multifamily advisor, our goal is to provide you with the insight and help you need to secure the best multifamily investment property. We take the time to determine your needs before identifying properties that can be considered for potential acquisition. We analyze market conditions, trends, and local competition to propose the best initial and counter-offers. From sourcing real estate investments and opportunities to protecting your financial interests during contract and closing, our team at 100Units.com will help you attain the best possible investment for your money.

at 100units.com

HARBOURSIDE SUNSETS CONDO PORTFOLIO 900 S PENINSULA DRIVE, DAYTONA BEACH, FL 32118

100UNITS.COM

JOE LAFLEURMultifamily Investment Advisor

[email protected]

100UNITS.COM617 EAST COLONIAL DRIVE, SUITE BORLANDO, FL 32803