Historical Multifamily Sale Listing - Gordon River Apartments

Multifamily For Sale

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Gordon River Apartments

1400 5th Avenue North, Naples, FL 34116

N/A

96 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
96
Building Size:
70,368 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Distressed:
Yes
Cap Rate:
11.46%
Listing ID
16889331
Last Updated
over 1 year ago

Description

12 Buildings / 96 Units
70,368 Rental SF
2BR and 3BR Unit Mix
Offered at $2,750,000 with 11.46% Cap Rate
Short Sale Opportunity
Gordon River Apartments and River Park Apartments represent a Value Add opportunity to acquire both properties under a court appointed receiver ordered short sale. The two property portfolio contains a total of 200 units and is operated as a single property but can be purchased either together
or separately at a combined asking price of $4,950,000 ($24,750/unit), which is well below replacement cost.

1400 5th Avenue N. Naples, FL 34102

Map of 1400 5th Avenue North, Naples, FL 34116 (Collier County)

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Created 10/28/2010