Klein & Heuchan Realtors
1744 N. Belcher Road Suite 200
Clearwater, FL 33765
727-441-1951

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Property Type: Investment Property
Property ID: SI-1522
Featured Property: Yes
Associate: Philippe Beau

1901-1915 LEAFLAND AVE.
DUNEDIN, FL   37698

Property Information:
Buy 8 homes wholesale and resell them individually at market prices! It is a great enhance/resell project one unit at a time while the remaining inventory generates an income. Each unit is a 3 bedroom-2 bath, 1,400 SF villa. All 8 units are owned by a non-profit affordable housing company and 7 units are rented month to month or to the end of 2019, at lower rates. However, new owner
will have no affordability obligation, and can lease or sell at market rates (and can raise it to a 7.5 % Cap Rate) if kept as an income producing property. ). These 8 homes were completed in 2016, and have no deferred maintenance. Creek Park HOA takes care of the outside maintenance, and has roof replacement and re-paint reserves. New owner will pay HOA fee (currently $236) per month/per unit. HOA is professionally managed. Water/sewer/solid waste is a fixed $90 a month per unit paid to HOA by owner or a landlord but as a pass-through. Each unit is built on a P.U.D. zero-lot-line lot. Each lot could receive an addition, such as a one-car garage, if desired at a later date, and subject to a building permit from the City of Dunedin. Each lot has two parking spaces. Therefore, each unit can be conveyed/resold individually if desired to families ready to pay market price, while you bought them wholesale. Current owner will consider selling for $1,400,000 for all 8 units ($175,000 each), or 4 for $720,000 ($180,000 each) or by increment of 2 for $370,000 ($185,000 each) as is.

SALE PRICE: $1,400,000 for all 8 units or minimum of 2.

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