Azure Overseas is now marketing the Village at Town Center Development in the resort area of Orlando. The development offers 2 bedroom luxury condominiums just minutes from Disney World from the 70% discounted price of £40k. The resort-development also boasts an impressive array of facilities including: swimming pool, club house, state-of-the-art health and fitness centre, volleyball, basketball and tennis courts.
As an investment the main points of the development are as follows:
- 70% below its peak selling price
- Net Yields 10% currently being achieved
- Tenants already in place (91% occupancy)
- On-site management & letting team in place
- 1, 2 & 3 bedroom units in private gated community
- Minutes away from Walt Disney World and Universal Studios
- Potential to generate over 100% on capital invested, excluding rentals
What is missing from the main points is the fact that the properties can be rented residentially or to tourists; Florida uses a zonal rental system, with owners of property in residential zones unable to rent to tourists and vice-versa. Having said that, this development being just a few minutes from Walt Disney World, Universal Studios and the new Wizarding World of Harry Potter it should do sufficiently well on holiday lets alone; giving the owner(s) some use of it themselves.
For anyone that can't already see that this is a bargain from the low price and location, the properties are being sold at 50% below their build replacement cost. This has become the yard-stick for buying discounted properties in America.
This is undoubtedly one of the finest opportunities in the Florida property market right now, and that is saying something. Right now it is almost impossible to find an expert or analyst who will advise against investing in Florida property, and, as anyone that knows overseas property will know, that is also saying something. It is little wonder though; prices are currently low, yields are therefore high, and Florida has a strong and proven growth cycle.
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