This Multifamily Property is Off-Market.

1400 5th Avenue North
Naples, FL 34116 ·

96 Units · Multifamily For Sale

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Gordon River Apartments

Price N/A Property Sub-type Garden/Low-Rise
No. Units 96 Property Use Type Investment
Building Size 70,368 SF Distressed Yes
Property Type Multifamily Cap Rate 11.46%
Listing ID: 16889331 Date Created: 10/28/2010 Last Updated: 01/10/2011

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

Research

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

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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