Evergreen Townhomes

11-15-2022
11-28-2022

1125 Evergreen Court, Winter Haven, FL 33880

  • Turn-Key Asset
  • Spacious and Desirable Floorplans
  • Washer/Dryer, Dishwasher and Garages In-Unit
  • Gated Entrance with Swimming Pool, Playground and Dog Park
  • Quaint, Single-Family Neighborhood-like Setting

Property Description

Colliers, as exclusive agent, is pleased to introduce you to Evergreen Townhomes in fast-growing Winter Haven which is conveniently located just 36 miles outside of Orlando, FL, and 46-miles away from Tampa, FL. This 38-unit townhome community is well-positioned for future growth thanks to its private, residential neighborhood feel. Exterior amenities include a gated entrance, lush landscaping, swimming pool, clubhouse, dog park, playground, and lake views. In addition to the exterior amenities package, the interiors further set this asset apart from its rental competition due to each unit having a 2-car garage, washer/dryer, fully equipped kitchens, and semi-private patios. These comforts will allow an incoming owner to immediately capture$350+/month in rental upside on lease renewals. For a new operator, there is an opportunity to increase net rental income$114,114 in Year 1 just by reducing the embedded loss-to-lease. Units are a healthy mix of 9 two-bedroom/two-and-one-half bath and 28 three-bedroom/two-and-one-half bath townhomes which average 1,425 and 1,625 square feet respectively. Residents are responsible for their own electric and water/sewer, while ownership pays for garbage pickup and common area utilities.

Evergreen Townhomes is located in Winter Haven, FL which is a fast-growing metro conveniently located between Tampa and Orlando. Winter Haven is known as “Chain of Lakes City” because it sits on a vast network of interconnected lakes. In addition to the easy access to watersports, residents enjoy proximity to entertainment parks such as: Legoland, Fantasy of Flight, Disney, SeaWorld and Universal. The property is conveniently located near Polk State College, Florida Polytechnic, Winter Haven Hospital, shopping, dining, and entertainment. Located right along I-4, the metro has emerged as a key logistics hub. Publix, Walmart, Amazon, Aldi and Sherwin Williams all have warehouses or distribution centers within 15-miles of Winter Haven. The Winter Haven local economy has exhibited serious growth, fueled by hundreds of millions in investment, Winter Haven is welcoming new businesses, new jobs, and new capital to the community every day. Population growth projections are expected to be nearly 1.5%over the next five years, providing numerous tailwinds for the Winter Haven multifamily sector.

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
Price
$ 10,950,000
No. of Units
38
Cap Rate
5.55%
Average Occupancy
96%
Year Built
2012
Building Size
57,172 Sq ft
Lot Size
349,351.20 sq ft
No. of Stories
2
APN
26-28-15-536000-310105
Zoning Code
RMF-4
Opportunity Zone
No
Price per unit
$ 288,158
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