Sobe apart-hotel keyweellc
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SOBE APPART – HOTEL 24 units KEYWEE, LLCA
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Transcript of Sobe apart-hotel keyweellc
SOBE
APPART – HOTEL 24 units
KEYWEE, LLCA
SOBE
Opportunities ¨ Own entire block of apartments
¨ 1 block from the Beach
¨ 24 studios in the heart of South Beach
¨ License for Short-Term rental
¨ Allowed to add 6 more floors
¨ Renovation planed (5 apt by week)
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Investment ¨ Listing price: 4 Millions
¨ Asking price: 3 Millions
¨ Time frame: 2 Weeks
¨ Partnership through Floridian Corporation company with detail company agreement
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HOW? ¨ Get 100% of the property
¨ Management exclusive by KeyWee, LLC during 3 years
¨ If KeyWee, LLC can’t reach objective, you got the right to sell the building.
¨ Estimation of the building after renovation + Furniture = $5,000,000 (after 3years)
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Rent ¨ Average occupancy: 22 days per month
¨ Rent for 1 Studio per year ($13,200 + 19,800)
– 6 months low season: min $100 / day
– 6 months high season: min $150 / day
¨ Global rent (x24): $792,000
¨ Global ROI: 25% (Taxes + maintenance included)
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Promotion ¨ Online presence
– Own website designed & managed by professional with advertising and booking
– All booking portals
– Airbnb (5 success stories by KeyWee)
– Corporate rentals
– Clients list from local Partners
¨ Focus on Europe and South America during low seasons
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Expansion: Win-Win ¨ Option 1
– Sell after 3 years
– Appreciation due to short term and renovation
– Indian creek area is constantly increasing
¨ Option 2: – Upgrade the building by 3 to 6 more floors
• Price $150K per floor
– Increase capacity by 300%
– New investor pool
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Projection Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 1 year 2 year
Occupancy 24 28 29 26 24 20 20 20 22 24 28 28 293 293
Daily price 140 160 170 140 120 100 100 100 100 100 130 150 1,510 1510
1 studio rent 3,360 4,480 4,930 3,640 2,880 2,000 2,000 2,000 2,200 2,400 3,640 4,200 37,730 37730
24 studios rent 80,640 107,520 118,320 87,360 69,120 48,000 48,000 48,000 52,800 57,600 87,360 100,800 905,520 905520 0
Cleaning 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 24,000 24000
UHliHes 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 28,800 28800
Manager 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 48,000 48000
Maintenance 10,000 10000
0
OperaHng income 72,240 99,120 109,920 78,960 60,720 39,600 39,600 39,600 44,400 49,200 78,960 92,400 794,720 794720 Property Tax 51,000 51000
Income Tax 238,416 238416
Net Income 505,304 505304
Management (20%) 101,061 101061
Property owner (80%) 404,243 404243
Total gain from property appreciaHon is not included in the projecHon. The expected increase of the property price in Miami is 15% per year.
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Location: 30th Street & Collins
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Specification ¨ 2 buildings of 2 floors
¨ Year: 1957
¨ Per building: – 4,000 SQ FT
– 12 Studios
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Renovated Room Sample
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Street view
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Street view
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1st floor
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2se floor
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Studio
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Studio
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Studio
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Building Plan (x2)
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Contact ¨ Guillaume Ker
[email protected] (786) 554-1887
¨ KeyWee, LLC Short term rentals management
