Cyanamid Road Apartments 5646 Cyanamid Rd 16 Unit Apartment Building $2,600,000 ($162,500/Unit) 5.93% Cap Rate Milton, FL 32583

The Hull Multifamily Advisors (HMA) are pleased to present the exclusive offering of Cyanamid Road Apartments in Milton, FL. Built in 1984, this 16-unit, two-story, asset consists of 2 identical 8-unit buildings, with (16) 980 SF Two Bed Two Bath Apartments. Notable for investors, this asset sits on 4.5 acres of commercially zoned land, allowing a new investor the opportunity to construct additional apartment units or other commercial development projects. The Cyanamid Road Apartments boasts several amenities such as individual entrances, ample parking, sliding glass doors, and individually balconies/back porches just to name a few. Additionally, current ownership is paying for trash and water, while tenants are responsible for paying electric.

The Cyanamid Road Apartments are being offered to the market as a stabilized cash flowing asset, however, several value-add opportunities present themselves. Most notable, this asset has significantly below market rents with occupancy levels historically averaging near 100%. After doing an in-depth rent comparable study (located in the OM), it has been determined that current average apartment rents are $225-$275 below similar competing properties, this leaves investors with an opportunity to increase rents to market and further increase not only cashflow, but also significantly increase value. Due to the attractive location and significant historic cashflow, this opportunity offers the marketplace a significant value add, cash flowing asset. Please contact HMA for more information before this opportunity is gone.