ST. PETERSBURG SINGLE FAMILY HOME …...ST. PETERSBURG, FL - SINGLE-FAMILY PORTFOLIO FOR SALE! 4523 20th Ave S, St Petersburg, FL 33711 COMPLETE HIGHLIGHTS Grimaldi Commercial Realty

CONFIDENTIAL OFFERING MEMORANDUM • JANUARY 10, 2019

Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com

4523 20th Ave S, St Petersburg, FL 33711

19% CASH-ON-CASH RETURN! ST. PETERSBURG, FL - SINGLE-FAMILY PORTFOLIO FOR SALE!

David Rosenthal Kari L. Grimaldi/ Broker813.882.0884 [email protected] [email protected]

ST. PETERSBURG SINGLE FAMILY HOME PORTFOLIO FOR SALE!

https://www.grimaldicommercialrealty.com/index.php


MULTIFAMILY PROPERTY FOR SALE

2

presented by:

PROPERTY INFORMATION 3

FINANCIAL ANALYSIS 8

LOCATION INFORMATION 12

ADVISOR BIOS 15

AssociateO: 813.882.0884C: 813.245.7333E: [email protected]

David Rosenthal

President/ BrokerO: 813.882.0884C: 813.376.3386E: [email protected]

Kari L. Grimaldi/ Broker

The information contained in the following offering memorandum is proprietary and strictlyconfidential. It is intended to be reviewed only by the party receiving it from GrimaldiCommercial Realty and it should not be made available to any other person or entity withoutthe written consent of Grimaldi Commercial Realty.

By taking possession of and reviewing the information contained herein the recipient agrees tohold and treat all such information in the strictest confidence.

The recipient further agrees that recipient will not photocopy or duplicate any part of theoffering memorandum. If you have no interest in the subject property, please promptly returnthis offering memorandum to Grimaldi Commercial Realty.

This offering memorandum has been prepared to provide summary, unverified financial andphysical information to prospective purchasers, and to establish only a preliminary level ofinterest in the subject property.

The information contained herein is not a substitute for a thorough due diligenceinvestigation.

Grimaldi Commercial Realty has not made any investigation, and makes no warranty orrepresentation with respect to the income or expenses for the subject property, the futureprojected financial performance of the property, the size and square footage of the propertyand improvements, the presence of absence of contaminating substances, PCBs or asbestos,the compliance with local, state and federal regulations, the physical condition of theimprovements thereon, or financial condition or business prospects of any tenant, or anytenant’s plans or intentions to continue its occupancy of the subject property.

The information contained in this offering memorandum has been obtained from sources webelieve reliable; however, Grimaldi Commercial Realty has not verified, and will not verify, anyof the information contained herein, nor has Grimaldi Commercial Realty conducted anyinvestigation regarding these matters and makes no warranty or representation whatsoeverregarding the accuracy or completeness of the information provided.

All potential buyers must take appropriate measures to verify all of the information set forthherein.

Prospective buyers shall be responsible for their costs and expenses of investigating thesubject property.

CONTENTS CONFIDENTIALITY & DISCLAIMER



TABLE OF CONTENTS


PROPERTY INFORMATION


SECTION 1 • PROPERTY INFORMATION

4

OFFERING SUMMARY

Sale Price: $599,000

Number Of Units: 6

Cap Rate: 10.5%

Cash-on-cash Return 19.%

Year Built: 1940

Building Size: 6,878 SF

Renovated: 2017 & 2018

Zoning: RESIDENTIAL-MULTIFAMILY

Market: SOUTH ST. PETERSBURG

Submarket: DOWNTOWN ST.

PETERSBURG

PROPERTY OVERVIEWTHIS AMAZING 6-UNIT SINGLE-FAMILY HOME PORTFOLIO IS A ONE OF A KINDINVESTMENT OPPORTUNITY TO ACQUIRE THE PERFECT INCOME-PRODUCINGPROPERTY WITH MASSIVE UPSIDE. THIS PORTFOLIO CONSISTS OF 6 LARGE,SINGLE-FAMILY HOMES WITH AN AVERAGE OF 2.5 BEDROOMS PER HOME ANDAN AVERAGE OF OVER 945 SQUARE FEET PER HOME! THE LARGE LAYOUTSWITH MULTIPLE BEDROOMS MAKE THESE UNITS EXTREMELY EASY TO RENT ASTHERE IS HIGH DEMAND FOR RENTAL UNITS OF THIS SIZE IN ST. PETERSBURG,FL!

EACH HOME IS IN FANTASTIC CONDITION AND THE PORTFOLIO IS CURRENTLY100% OCCUPIED WITH EXTREMELY BELOW MARKET RENTAL RATES IN-PLACE.WITH THE BUYER'S ABILITY TO INCREASE THE RENTAL RATES UPON TAKINGOVER THE PROPERTY, THEY WILL BE ABLE TO OBTAIN A CASH-ON-CASHRETURN OF APPROXIMATELY 19% AND A CAP RATE OF OVER 10.5% IN 2019. ITIS ALMOST IMPOSSIBLE TO FIND THIS KIND OF RETURN IN THE CURRENTMARKET, ESPECIALLY WITH THE QUALITY OF EACH SINGLE-FAMILY HOME! THELOW RENTAL RATES PROVIDE MASSIVE UPSIDE AS THE BUYER WILL BE ABLE TOINCREASE THE RENTS INSTANTLY AND INCREASE THEIR RETURN. EACH HOMEIS CURRENTLY RENTING FOR APPROXIMATELY $150-$300 PER MONTH LESSTHAN THE CURRENT MARKET RATE IN THE AREA. WITH THE QUALITY OF THESEUNITS BEING SIMILAR, OR IN SOME CASES, EVEN BETTER THAN THOSECURRENTLY RENTING FOR THE MARKET RATE IN ST. PETERSBURG, FL, THEBUYER WILL EASILY BE ABLE TO BRING THESE RENTS UP TO MARKET RATE, IFNOT HIGHER!



EXECUTIVE SUMMARY




5

PROPERTY OVERVIEW

THE BEST PART IS THE FACT THAT THE BUYER WILL HAVE LITTLE TO NO CAPEX EXPENSES UPON TAKING OVER THE PROPERTY, ALLOWING THEMTO KEEP THEIR EXPENSES DOWN WHILE INCREASING THEIR RETURN! EACH SINGLE-FAMILY HOME HAS BEEN RECENTLY RENOVATED IN THEPAST 3 YEARS. RECENT RENOVATIONS INCLUDE INTERIOR AND EXTERIOR PAINTING, NEW FLOORING, UPDATED KITCHEN APPLIANCES, ANDBATHROOM UPDATES. ALL ROOFS, A/C, PLUMBING AND ELECTRICAL SYSTEMS ARE IN GOOD WORKING CONDITION AT PROPERTIES! THIS ISTHE PERFECT INVESTMENT FOR SOMEONE LOOKING FOR A MASSIVE 19%+ CASH-ON-CASH RETURN WITH LITTLE TO NO MAINTENANCEREQUIRED.

FURTHERMORE, DUE TO THE QUALITY OF TENANTS, THIS PORTFOLIO MAY NOT EVEN REQUIRE A MANAGEMENT COMPANY. BECAUSE THETENANTS PAY ON TIME, AND THERE ARE MINIMAL MAINTENANCE ISSUES, IT IS POSSIBLE FOR A BUYER TO SELF MANAGE THIS PROPERTY ANDSAVE MONEY ON THIS EXPENSE. HOWEVER, IF THE BUYER WOULD WANT A MANAGEMENT COMPANY TO HELP RUN THE DAY TO DAYOPERATIONS, WE HAVE INCLUDED THIS EXPENSE IN THE PROPERTY FINANCIALS LOCATED ON PAGES 9-11. TENANTS ARE RESPONSIBLE FORALL UTILITY EXPENSES INCLUDING WATER AND SEWER AT THE PROPERTY!

LOCATION OVERVIEW

THIS SINGLE FAMILY HOME PORTFOLIO IS LOCATED IN MULTIPLE LOCATIONS ACROSS BEAUTIFUL ST. PETERSBURG. THE HOMES ARE LOCATEDAT THE FOLLOWING ADDRESSES:

1. 1325 37th Street S

2. 1628 43rd Street S

3. 1725 Prescott St S

4. 2234 5th St S

5. 3611 15th Ave S

6. 4523 20th Ave S



PROPERTY DESCRIPTION




6

SALE HIGHLIGHTS• 6-BEAUTIFUL SINGLE-FAMILY HOMES IN ST.

PETERSBURG, FL!

• 100% OCCUPIED!

• 19%% CASH-ON-CASH RETURN IN 2019!

• 10.5% CAP RATE in 2019!

• EXTREMELY BELOW MARKET RENTAL RATES

IN-PLACE, GIVING THE BUYER MASSIVE

UPSIDE TO INCREASE THEIR NOI INSTANTLY!

• LARGE SINGLE-FAMILY HOMES WITH AN

AVERAGE OF 2.5 BEDROOMS EACH!

• HOMES BEING SOLD AT A DISCOUNT AS A

PORTFOLIO!

• EACH HOME HAS BEEN RECENTLY

RENOVATED AND IS IN FANTASTIC

CONDITION!

• FANTASTIC TENANTS IN-PLACE MAKING THIS

PORTFOLIO VERY EASY TO MANAGE.

• LOCATED IN BEAUTIFUL ST. PETERSBURG FL,

MINUTES FROM WORLD FAMOUS

CLEARWATER BEACH!

616% CASH-ON-CASH RETRUN! ST. PETERSBURG, FL - SINGLE-FAMILY PORTFOLIO FOR SALE!


COMPLETE HIGHLIGHTS




7



INTERIOR PHOTOS


FINANCIAL ANALYSIS


SECTION 2 • FINANCIAL ANALYSIS

9



RENT ROLL




10



INCOME STATEMENT




11



CAP RATE ANALYSIS


LOCATION INFORMATION


SECTION 3 • LOCATION INFORMATION

13

19% CASH-ON-CASH RETURN! ST.PETERSBURG, FL - SINGLE-FAMILY

PORTFOLIO FOR SALE!



REGIONAL MAP



SECTION 3 • LOCATION INFORMATION

14



AERIAL MAPS


ADVISOR BIOS


SECTION 4 • ADVISOR BIOS

16

115 W Bearss AveTampa, FL 33613T 813.882.0884C [email protected]

PROFESSIONAL BACKGROUND

David began his career at Ernst & Young, David serving as a Big FourAccountant, focusing on client services and analyzing Financial Statements.Before joining Grimaldi Commercial Realty, David worked with many local RealEstate Investment Trusts, learning the financial side of the Real Estate market.

Experience in the following:Retail Sales & LeasesFinancial PlanningReal Estate Investment TrustsDividend Reinvestment Plans & Dividend Payout RatiosSeller and Investor FinancingContract negotiations and due diligenceInvestment & Financial AnalysisProperty Valuation>

EDUCATION

David graduated from Tulane University in New Orleans, Louisiana, where hereceived a Bachelor's in Finance and a Masters in Accounting.A Tampa native since 1991, David attended Tampa Preparatory High School inDowntown Tampa where he played Soccer, Basketball, and ran Cross Country.When he is not working, David enjoys watching sports, working out and playinggolf.

MEMBERSHIPS & AFFILIATIONS

David is an outgoing individual whose drive and passion are evident in hispersistence to provide outstanding service. His business is built on: Dedication,Communication, Determination, & Trust while embodying the ability to caterand adapt to all of his client's Real Estate needs.

DAVID ROSENTHAL

Associate



ADVISOR BIO & CONTACT 1



SECTION 4 • ADVISOR BIOS

17

115 W Bearss AveTampa, FL 33613T 813.882.0884C [email protected] #BK3076744

PROFESSIONAL BACKGROUND

Kari Grimaldi is a Managing Broker/President of Grimaldi Commercial Realty Corp. andcommercial real estate expert. Kari has quickly climbed the ranks of who’s who inTampa Bay Area Commercial Real Estate to become a Top Producer. Learning & joiningthe family business at an early age, Kari understands the importance of networkingand building relationships, and has accumulated 20+ years of experience and in-depthknowledge to execute and navigate commercial real estate transactions for Sellers,Buyers, and Landlords/Tenants from inception to closing. Kari has an extensive resumewith some of the highlights listed below:

Areas of Expertise:Office and Build to Suit Sales & LeasingMedical Office Sales & LeasingResale & Leasing of Office ParksRetail Sales & LeasingIndustrial Sales & LeasingMulti family InvestmentsSingle NNN National InvestmentsLand & Commercial DevelopmentForeign Investors & Investment SpecialistSeller Finance and Creative Financing1031 & Reverse ExchangesShort Sales & Distressed/Bank-owned assets

As a commercial real estate owner and investor herself, she knows first hand how toguide others through the process, and negotiate and close transactions successfully.Kari has a vast portfolio of closed transactions in all sectors of the commercial market,and is a multi-million dollar sales producer.

EDUCATION

A Florida native, Kari earned her Bachelors at University of Florida in Management andPsychology, and a Masters at University of South Florida. A consummate professional,Kari is continually educating herself on the latest economic and market trends withcontinuing education, seminars and networking.

MEMBERSHIPS & AFFILIATIONS

Member of NAR, FAR, and FGCAR- Association of RealtorsREIC Member- Real Estate Investment CouncilCCIM Candidate- Certified Commercial Investment MemberICSC Member- International Council of Shopping Centers

KARI L. GRIMALDI/ BROKER

President/ Broker



ADVISOR BIO & CONTACT 2


Documents

ST. PETERSBURG SINGLE FAMILY HOME …...ST. PETERSBURG, FL - SINGLE-FAMILY PORTFOLIO FOR SALE! 4523 20th Ave S, St Petersburg, FL 33711 COMPLETE HIGHLIGHTS Grimaldi Commercial Realty