DAYTONA BEACH, FLORIDA PORTFOLIO | | The Daytona Beach, FL, Portfolio includes two adjacent communities, a total of 384 units, now operating as Forest Lake Apartments. Built in the mid-80s and well-maintained, these properties offer an exciting investment opportunity for cash flow and capital appreciation. This portfolio was acquired in September of 2018 at $96,354 a unit, which is well below replacement cost. The intent is to increase revenues through a moderate value-add program and to take advantage of property management efficiencies as the Sponsor, Lloyd Jones, currently owns and operates three other properties within a four-mile radius. The portfolio is located near the intersection of Interstate 95 and Interstate 4 putting the major cities of Orlando and Jacksonville within an hours drive. Surrounded by retail, dining, and commercial activity, the property has easy access to Daytona International Airport, Daytona International Speedway, and the famous Florida beaches. | | | | |
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