130+ units class A multifamily in Clearwater, Fl. Look no Further
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[{"id": "i7kzy1t", "text": "Is this a serious listing? 0.3% cap rate?", "replies": [{"id": "i7l0mkk", "text": "It\u2019s a 3.4 cap", "replies": [{"id": "i7l0z1y", "text": "Oh gotcha\u2026 monthly NOI.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i7kzzc6", "text": "2.8 Cap lol", "replies": [{"id": "i7l08ra", "text": "Seller is a little bit difficult but none the less there might be a buyer looking to park some money. It\u2019s at 3.4 cap rents can always continue to increase to increase cap.", "replies": [{"id": "i7lh4fy", "text": "As do expenses. And interest rates are increasing.", "replies": [{"id": "i7lidan", "text": "For now Feds looking to average inflation back to only 2% annually.", "replies": [{"id": "i7ljkua", "text": "Exactly. By increasing interest rates.", "replies": [], "depth": 5}, {"id": "i7lrba1", "text": "Hey dude, only a cash buyer can purchase this or an extremely low LTV. Where interest rates are today, no one will be able to line up good financing. \n\nThis should be at no less than a 4 cap and I just had 2 assets closer to downtown Tampa appraise at a 4.25% cap.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "i7l1rkh", "text": "I get 3.4.\n\n$157k\\*12/55mm = 3.4", "replies": [{"id": "i7l2an1", "text": "You're doing it wrong. It's NOI/PP or 157/55m", "replies": [{"id": "i7l2lxk", "text": "Disregard, *I* did it wrong.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "i7md5fm", "text": "tax adj?", "replies": [], "depth": 2}], "depth": 1}, {"id": "i7l08l3", "text": "3 cap", "replies": [], "depth": 1}, {"id": "i7l0fth", "text": "Any additional materials?", "replies": [], "depth": 1}, {"id": "i7l0jx8", "text": "I\u2019ll buy it at an 8 cap, for $53MM below your ask.", "replies": [{"id": "i7l0shb", "text": "I\u2019ll buy it at a 7.5", "replies": [], "depth": 2}, {"id": "i7l7r9g", "text": "8% comes to approx $ 23M", "replies": [], "depth": 2}], "depth": 1}, {"id": "i7l0wod", "text": "Someone tell this guy it isn\u2019t November 2021", "replies": [], "depth": 1}, {"id": "i7l1lrh", "text": "Is this on the market?", "replies": [{"id": "i7l1q87", "text": "Off market. Must sign NDA if interested. Pm me or shoot me an email.", "replies": [{"id": "i7m3qwr", "text": "Why do some brokers want NDA's signed?", "replies": [{"id": "i7mgp02", "text": "Because their sellers want it", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i7l21at", "text": "Wonder what it will be when the taxes adjust...", "replies": [{"id": "i7lu0n7", "text": "After a tax regression, the buyer would likely be under a 3% cap rate", "replies": [{"id": "i7mbklz", "text": "NOI doesn\u2019t include retail income monthly. With retail:\n\nMonthly NOI: $163,946 + 36% monthly profit the retail space produces in profit goes to owner.", "replies": [{"id": "i7mcylj", "text": "You\u2019re leaving out some important details Frankie", "replies": [{"id": "i7me18t", "text": "Purposefully of course. That\u2019s why the buyer has a DD for. Also, for people that might be interested can pm and fill out an NDA.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i7l6iue", "text": "Risky buy at what may be the absolute top-top of rent pricing and asking a 3 cap. \n\nBuyer might get stuck offering this at a worse cap and with avg rents down to 1500 (75k monthly NOI) in a year.", "replies": [], "depth": 1}, {"id": "i7l9fop", "text": "Na", "replies": [], "depth": 1}, {"id": "i7ldjkg", "text": "Reaching for the stars, as some would say.", "replies": [], "depth": 1}, {"id": "i7lhrd8", "text": "New multifamily has been a game of hot potato the last couple of years and I think OP knows who is going to get burned.", "replies": [{"id": "i7li63j", "text": "The NOI doesn\u2019t include the monthly income from the retail space. And this deal is tight but great for a buyer needing to park some money or looking to buy and hold.", "replies": [{"id": "i7ligwa", "text": "Oh what\u2019s the CAP with the retail? I\u2019m sure that makes this a solid buy.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i7lilz8", "text": "Sounds like there\u2019s no upside to have to buy it with interest rates that are +100 bps than a few months ago.  OP- look for someone with 1031. No meat on the bone here.", "replies": [], "depth": 1}, {"id": "i7lj1pq", "text": "I don\u2019t think any blockrock acquisition guys are in this sub\u2026", "replies": [], "depth": 1}, {"id": "i7llhpy", "text": "Call Grant..He'll take it all day long!", "replies": [{"id": "i7m5qm4", "text": "Naw man it needs to be 300 plus units or your an idiot", "replies": [], "depth": 2}], "depth": 1}, {"id": "i7ln46k", "text": "Sell it to the Church of Scientology. Unless it\u2019s directly gulf-side on Clearwater Beach on Gulf Blvd., it\u2019s not going to attract many offers.", "replies": [], "depth": 1}, {"id": "i7lnmzi", "text": "0.28 \ud83e\udde2", "replies": [{"id": "i7lo67n", "text": "No. It\u2019s a 3.4 cap without retail space income included. 157k x 12 months/55mil= Cap", "replies": [{"id": "i7lt4uh", "text": "Unless you have all cash this makes no since commercial loans going 6-7 even bringing rents up would be a negative spread on debt service", "replies": [], "depth": 3}, {"id": "i7lvsyi", "text": "Why would you put up incomplete numbers?", "replies": [{"id": "i7m08sk", "text": "Nda is needed to release docs.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "i7ros5q", "text": "Hella compressed rate ima check costar later to see what the avg cap rate is over there", "replies": [], "depth": 2}], "depth": 1}, {"id": "i7luai8", "text": "54.5M and you have a deal", "replies": [{"id": "i7lzv9v", "text": "Pm me if you\u2019re truly interested", "replies": [], "depth": 2}, {"id": "i7m04hf", "text": "Pm me", "replies": [], "depth": 2}, {"id": "i7man0f", "text": "I think he wants you to PM him", "replies": [], "depth": 2}], "depth": 1}, {"id": "i7m0o1e", "text": "Looks pretty nice. Wrong side of the country for me to invest in, though. Best of luck!", "replies": [], "depth": 1}, {"id": "i7m419x", "text": ".... Why are they selling it", "replies": [], "depth": 1}, {"id": "i7m5wsz", "text": "Lol. This thread is a sign.\n\n&amp;#x200B;\n\nOP - playing devil's advocate here. Is your seller motivated to sell? Why is this deal off market?", "replies": [{"id": "i7maph7", "text": "Not really off market. Just posted to a really weird market.", "replies": [], "depth": 2}], "depth": 1}, {"id": "i7m99ze", "text": "Some one smoked crack before writing this post.....\n\n@ 25% equity this is in the hole $1.3MM annually,  and better hope there's no repairs. With a DY of 3.1%, I'm amazed people haven't pounded down the door......", "replies": [], "depth": 1}, {"id": "i7m9m5z", "text": "If you're good with a 2.45% return, it's a deal.", "replies": [], "depth": 1}, {"id": "i7mbmsa", "text": "This seems like a phenomenal opportunity for Grant Cardone to get another $55M into his AUM. Actually, would you take $65M? I'm sure he'd do a handshake deal for $72.5M right now if you called him.", "replies": [{"id": "i7mcbns", "text": "A man don\u2019t shoot the messenger. I\u2019m just advertising the off market deal I\u2019m working on.", "replies": [{"id": "i7mdgb8", "text": "I was mostly kidding, it just seemed like a good chance to remind everyone that Cardone is a fraudster who preys on unsophisticated retail investors.\n\nI've done my share of pushing pricing and honestly in my market a sub-4% for an asset like this wouldn't even raise eyebrows. \n\nGood luck!", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}]