Email Us This
short form You will be
contacted and have the opportunity to be entered into our automated email system.
You'll immediately receive an email with a proprietary database on all Current Investment
Properties in the Tampa Bay Area
and other specific investment information that you require.
Many other Beach Front complexes
have available units > View
Here
Update - Contact us for current availability of Re Sales in this complex and others.
As an Investment - One of the points that makes this property particularly
appealing is that it is has operated for more than 40 years as a successful hotel. In
2004, its occupancy rate was 75.8%, and occupancy for 2005 year-to-date is 78.9%.
The Rental Program - Condo hotel unit owners who choose to participate in the
on-site rental program get up to 42 days of usage, depending on the plan they choose. The
rental revenue split for owners ranges from 50% - 54%, depending on the rental plan
selected.
Appreciation - When considering an investment, it's necessary to take a
look at the real estate nearby.
Between 1998 - 2003 real estate appreciated 93% (an average of 18.6% per year), according
to The St. Petersburg Times. In 2004, property values went up 21.5%. Locals think 2005
could come in even higher, as demand for homes in their areas have increased noticeably,
especially waterfront and Gulf-front and they can't make any more beach.
Archives on Construction Status - Because this condo hotel is a
conversion and not out-of-the-ground new construction, the turnaround time is pretty
quick. That makes this property a prime candidate for a 1031 exchange, but as always,
please check the suitability with your accountant and attorney.
The renovation is completed. This Resort Condo Hotel has a wide variety of size and
configurations of units. Here's the construction status: Phase I - completed
- Phase II - completed September 2005 - Phase III - completed in
2006
To Purchase a Unit -The State of Florida has approved the condo documents, so the they are
ready to go to contract.
A total of 20% cash down is required per the following payment schedule:
Phase I - $5,000 is due at time of contract, 20% is due by the end of the 15 day contract
rescission period. Closing is anticipated to be late July/early August 2005.
Phase II - $5,000 is due at time of contract, 10% is due in 30 days. The remaining 10% is
due 30 days later. Closing is anticipated to be September/October 2005.
Phase III - $5,000 is due at time of contract, 10% is due at the time Phase III
construction begins (anticipated to be late August, early September 2005). The remaining
10% is due 60 days later. Closing is anticipated to be December 2005/January 2006.
Archives on Special Developer Incentive
The developer has decided to offer a special incentive for a limited time to buyers of
units in Phase I. This offer will be a credit at closing to help buyers with their
acquisition and closing expenses. The credits range from $6,000 to $35,000.
2004-2005 Prices - The Beach Resort has a wide variety of size and
configurations of units. Over 90% of the units directly face the Gulf. The 10% that don't,
overlook the pool and are priced lower. Below is an overview of the range of the current
prices:
Studios: $209,900 - $279,900
Deluxe Efficiencies: $174,900 - $379,900
One bedroom suites: $429,900
Efficiencies with connecting bedroom: $449,900 - $479,900
Two-bedroom, two bath suite: $599,900
Three Penthouses: $649,900 - $699,900
Direct Gulf-front ADA rooms: $204,900 - $354,900
The above material was sent to us by the developer and marketing company.
To Tampa
Bay Condos Main Page
Info on all the
IDX listings shown
|
