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

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