Eastwood

Haines City, FL

42

UNITS

1978

YEAR BUILT

4.00

ACRES

39,000

SQUARE FEET

PURCHASE PRICE

Property Tour

Investment Overview

Eastwood is a 42-unit, cardinal apartment community located in Haines City, Florida in Polk County. The 3rd most populous city in Polk County. Eastwood lies on a quiet, 4-acre lot in a peaceful neighborhood only a short drive away from local grocers and retailers. The community consists of eight, single-story, wood frame buildings consisting of 12 one-bedroom/one-bathroom and 30 two-bedroom/one-bathroom units averaging 750 square feet and 1,000 square feet respectively. Each building was constructed in 1978, but current ownership has completed extensive CapEx since taking over the asset 3-years ago including new roofs, HVAC’s, sub-flooring, paint, electrical panels and interior renovations.

Residents enjoy the proximity to major roadways, an abundance of jobs and demand drivers giving them easy access to all the great things Haines City and central Florida have to offer. Haines City is also known as the “Heart of Florida”, because it’s centrally located off Interstate 4 on US Highway 27, a short distance to the state’s major highways, railways, and airports. Polk County is one of the top distribution hubs in the country and one of only a handful of markets in the U.S. within 3 hours drive to more than 20 million people. Companies such as: Publix, Amazon, FedEx, UPS, Walmart and Geico all have a major presence in Polk County. A predicted average population growth of 8.6%, and average income growth of 12.1% from 2021-2026 makes Haines City an extremely attractive location for new businesses, families, and investors.

Investment Highlights

  • Majority Two-Bedroom Units
  • Proof of Concept Business Plan
  • Quiet, Suburban-like Neighborhood
  • On-Site Laundry Facility and Office
  • Major CapEx Completed the Past 36-Months

Location Highlights

  • Centrally Located Between Tampa Bay and the Greater Orlando Metro Area
  • Haines City Has a 99% Occupancy Rate and Median Age of 36.8 Years Old
  • 2021 Average Household Income of $53,000+ and Median Home Value of $188,000+
  • Projected 8.6% Population Growth From 2021-2026

Contact

Miles Tombrink
Director
+1 813 716 2781
miles.tombrink@colliers.com

CONFIDENTIALITY AGREEMENT

THIS CONFIDENTIALITY AGREEMENT (“Agreement”) is made and agreed to by Colliers Florida Multifamily (“Broker”), exclusive listing broker for the Property, and the undersigned Purchaser (“Purchaser”) regarding the Property herein (“Property”). The obligation of confidentiality undertaken pursuant to this Agreement shall survive the terms of the Broker’s listing agreement with the Owner(s). PURCHASER HAS REQUESTED information from Broker for the purpose of evaluating a possible acquisition of the Property. The Owner of the Property has instructed Broker to deliver information concerning the Property, much of which is highly confidential, only to those potential purchasers who sign this Agreement. THE PARTIES AGREE, in consideration of the covenants and agreements contained herein, as follows: 1. Purchaser will not disclose, permit the disclosure of, release, disseminate or transfer; any information obtained hereunder (“Information”) to any other person or entity. 2. If Purchaser is a corporation, partnership, limited liability company or other non-natural legal entity, the person(s) signing this Agreement on its behalf will take all appropriate precautions to limit the dissemination of the Information only to those persons within the entity who have need to know of the information, and who are specifically aware of the Agreement and agree to honor it. 3. This Agreement applies to all Information received from Broker, now or in the future, which is not readily available to the general public. Purchaser understands that all information shall be deemed confidential, valuable and proprietary such that its unauthorized disclosure, even without intent to harm, could cause substantial and irreparable harm to Owner and Broker. 4. All information shall be used for the sole purpose of evaluating the potential acquisition of the Property, and it shall not at any time, or in any manner, be used for any other purpose. 5. Purchaser shall not contact directly any persons concerning the Property, other than Broker, without Broker’s or Owner’s written permission. Such persons include, without limitation, Owner’s employees, suppliers and tenants. 6. Purchaser acknowledges that it is a principal and not an agent on behalf of any other party in conjunction with the purchase of the Property (except Advisors working on behalf of their pension fund clients). Purchaser acknowledges that it is not working with any other broker or agent other than The Babb Group in connection with this transaction. 7. Neither Broker nor Owner makes any representations or warranty, express or implied, as to the accuracy or completeness of any information provided by them. Purchaser assumes full and complete responsibility for reconfirmation and verification of all Information received and expressly waives all rights of recourse against Owner and Broker with respect to the same. 8. The Persons signing on behalf of Purchaser and Broker represent that they have the authority to bind the party for whom they sign. 9. This Agreement shall be governed and construed in accordance with the laws of the State of Florida. 10. No outside broker represents Purchaser. Purchaser is working with Colliers Florida Multifamily, specifically The Babb Group. Furthermore, Purchaser indemnifies Broker and owner against any commission claims by brokers on this listing or any listing by the Babb Group for the six months following the date of this agreement.