Apartment Development
Apartment Development – Tavares FL
Investment Highlights
Land Acquisition Cost $375,000
Special Features:
Site comprised of 7 different adjacent parcels totaling 5.4 Acres.
Zoning & Future Land use is already city approved – No City Council votes are required.
On site Water/Sewer.
Experienced Central Florida Developer with strong reputation for quality and value.
Luxury apartment home designs including easy access to local amenities.
Convenient to Elementary, Middle and High Schools, This section of Tavares has a liveability score 2 points higher than nearby Mount Dora.
Residence will experience the best of Florida apartment lifestyle and convenience, just 30 miles to Orlando
Close to Publix, Winn Dixie and Via Port Mall and Entertainment complex.
Estimated Financial Breakdown to Develop & Build
Land Acquisition Cost $375,000
Pre-Development Cost
- Civil Engineering
- School Study
- Landscape/Irrigation Planning
- Traffic Tier 1 Study
- FDED Water
- FDED Sewer
- St Johns Water Management
- Surveys – Boundary, Topographic, Tree
Estimated Total: $100,000
Development Cost
- Pavement
- Storm Water
- Site Development
- Impact Fees
- Utility Hook-up
- Retention Pond
- Construction
- Finish Landscaping
Estimated Total: $5,400,000
Estimated Grand Total: $5,875,000
Estimated Valuation of Completed Project
Monthly Rent Annualized
Apt. $854.00* $10,248.00
64 Units $54,656.00 $655,872.00
Estimated Annual Gross Possible Income: $655,872.00
* Rent Valuation based on RentOmeter.com
Property Valuation base in GPI
10% Cap Rate = $6,550,720.00
8% Cap Rate = $8,198,400.00
6% Cap Rate = $10,931,200.00
