Easy Apartments Buyer

08/31/2024

https://linktr.ee/TheConversionKing

01/26/2024

We are live!!!

Welcome! You are invited to join a meeting: Hotel Conversions Webinar Friday 6 PM EST. After registering, you will receive a confirmation email about joining the meeting.

01/19/2024

RETAIL TO SELF STORAGE CONVERSION; North Augusta Flea Mall (Former K-Mart) will be redeveloped into climate control self storage with boat and RV storage. Seeking JV and co GP sponsors.

01/19/2024

First Place
A Sacramento Tradition (1:58)
Whitney High School - Rocklin, CA
Nayeli Glaude, Simone D'Souza

Congratulations to all of this year’s Division I and Division II winners of the 2023 Fall Nationals! Each entry was scored and critiqued by a professional who offered their expert opinion and feedback, based on years of work experience in the TV/Film industry. Each category was awarded a specific ...

05/14/2023

Under LOI for $22.5M or $200K a key:
Doral Inn & Suites
1212 NW 82nd Ave, Miami, FL 33126
Number of keys:112
Year Built: 1989
Year Renovated 2022/Partially: Over $600,000 in recent CapEx
• New Roofing
• Repaired Railings
• Asphalt and Street Lines Painting
• Mattresses
• Gutters and new Drains
• Sofa Beds Upholstery
• Pool Furniture & Equipment
• New Luggage Cart
• New BBQ Grills
• New Fence
• New Locks
Number of Buildings 12
Acreage 3.53 Acres
UNIT TYPE SQUARE FOOTAGE # OF UNITS
Studio ± 490 SF to ± 550 SF: 65
1-Bedroom ± 550 SF: 25
2-Bedroom/Loft ± 925 SF: 22
(All-Suites hotel. All rooms include a Full Kitchen with Full-Size refrigerator, stove, microwave, and sink. Built as a Residence Inn (Gen 1)- highly desirable Floor Plans.
AMENITIES:
PREMIUM RESIDENT AMENITIES
❑ Resort Style Pool
❑ Newly renovated Fitness Center
❑ Spacious and Elegant Lobby
❑ Poolside Lounge with large glass multi-slide doors
❑ Restaurant (to be converted to community kitchen)
❑ Night Club (to be converted to resident lounge)
❑ Business Center
❑ Conference Center (to be converted to resident community room)
❑ Poolside Garden and BBQ area
DEMO GRAPHICS:
Total Population Within Miami-Dade County: 2,701,767
Average Household Income within Miami-Dade County: $53,975
Median Housing Value within Miami-Dade County: $310,700
Total Households in Miami-Dade: 902,200
Business plan:
Acquire Hotel, after change of use has been successful for $200K a key (multi-Family is trading for $350K+ a door?!) Operate asset as a short term rental during renovations to preserve capital. Hotel operations NOI is $700K per P&L across 12 buildings.
RETURNS: Levered
Net Profit: $10,209,015
IRR: 32.4%
Multiple: 2.12x
Cash Yield: 7.0%
Refi Capital return: 100.0%
EXIT SUMMARY
Sale Date: Sep-29
Holding Period Post-Opening: 63 months
Price: $42,325,097
Price / Unit: $377K
Cap Rate: 6.00%
Need:
I'm looking to build out the GP team!! Let me know if you someone interested in becoming a KP, Capital and EMD Sponsor? Team work makes the dream work!
Steven P. Glaude
Realtor ~ Investor
*for access to deal, send email to: [email protected]

02/24/2022

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02/23/2022

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02/23/2022

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02/21/2022

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02/18/2022

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