• McCall Professional Center
  • Manasota Beach Hotel Site
  • South Access Rd Office Biggs
  • Office Retail Center
  • Harvard St. Apartments

  • Overbrook Gardens

  • Placida Professional

  • Puesta Del Sol Hotel Site

Overbrook Gardens 
Condominium Conversion
2101-2163 Forked Creek
Englewood Fl 34223

$1,150,000

 
This is a great long term residential rental opportunity that is enhanced by the conversion of the units into condominiums.  With all paperwork in place sales can begin immediately.  At a price point of $125K per unit there is significant upside available immediately.

With over 500 feet of frontage on SR 776 and a future land use of Commercial General, there is a great opportunity to develop the entire parcel into a retail/ office center. 
 
Situated within the desirable Overbrook Gardens subdivision only blocks from the water,  these units  offer an affordable option for tenants and always rent well.
 
Renovations have been ongoing and all carpet is being replaced with ceramic tile and the kitchens have been updated. Five of the fourteen units have been completely remodeled
Details  

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  • l2101-2163 Forked Creek Dr.
  • l14
  • l2 Br / 2 Ba
  • lRSF 6
  • lIncluded
  • lCG
  • l1.53 Acres
  • l15077
  • l11809
  • lBlock/ Stucco
  • l1973
  • lAsphalt 2004
  • lCity Water/ Sewer
  • l92%
  • l$700
  • l$81,300
  • l$1,150,000
  • l7.1%
 
Financials  
Income  
  Rental Income $117,600
  Late Fees $600
  Total Income $118,200
Expenses  
  Taxes $17,500
  Insurance $12,600
  Lawn Care $1,200
  Repairs  $2,500
  Maintenance $2,500
  Total Expenses $36,300
     
Net Operating Income $81,300

 
  Income      
      Actual Pro Forma Electricity
2101   Forked Creek $650 700 Tenant
2103   Forked Creek $650 700 Tenant
2111   Forked Creek $800 700 Tenant
2113   Forked Creek $700 700 Tenant
2121   Forked Creek $750 700 Tenant
2123   Forked Creek $750 700 Tenant
2131   Forked Creek $700 700 Tenant
2133   Forked Creek $696 700 Tenant
2141   Forked Creek $700 700 Tenant
2143   Forked Creek $750 700 Tenant
2151   Forked Creek $653 700 Tenant
2153   Forked Creek $603 700 Tenant
2161   Forked Creek $604 700 Tenant
2163   Forked Creek $675
700
 Tenant
    $9,681 $9,800  

 
 
  Land Area Total SF Living Sqft
2101-2103 Forked Creek 11454 2141 1687
2111-2113 Forked Creek 9093 2141 1687
2121-2123 Forked Creek 8962 2141 1687
2131-2133 Forked Creek 8764 2141 1687
2141-2143 Forked Creek 9348 2141 1687
2151-2153 Forked Creek 9474 2141 1687
5161-2163 Forked Creek 9354 2231 1687
  66449 15077 11809

 

 

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The property will be delivered free and clear of any existing financing.  Owner financing is not available

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Condo Conversion

Retail Conversion
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The property can be shown with advance notice.  Please Contact Jules Roman at 941-735-4974