Evergreen Townhomes

Winter Haven, FL

38

UNITS

2012

YEAR BUILT

8.02

ACRES

57,172

SQUARE FEET

PURCHASE PRICE

Property Tour

Investment Overview

Colliers, as exclusive agent, is pleased to introduce you to Evergreen Townhomes in fast-growing Winter Haven which is conveniently located just 36 miles outside of Orlando, FL, and 46-miles away from Tampa, FL. This 38-unit townhome community is well-positioned for future growth thanks to its private, residential neighborhood feel. Exterior amenities include a gated entrance, lush landscaping, swimming pool, clubhouse, dog park, playground, and lake views. In addition to the exterior amenities package, the interiors further set this asset apart from its rental competition due to each unit having a 2-car garage, washer/dryer, fully equipped kitchens, and semi-private patios. These comforts will allow an incoming owner to immediately capture $350+/month in rental upside on lease renewals. For a new operator, there is an opportunity to increase net rental income $114,114 in Year 1 just by reducing the embedded loss-to-lease. Units are a healthy mix of 9 two-bedroom/two-and-one-half bath and 28 three-bedroom/two-and-one-half bath townhomes which average 1,425 and 1,625 square feet respectively. Residents are responsible for their own electric and water/sewer, while ownership pays for garbage pickup and common area utilities.

Evergreen Townhomes is located in Winter Haven, FL which is a fast-growing metro conveniently located between Tampa and Orlando. Winter Haven is known as “Chain of Lakes City” because it sits on a vast network of interconnected lakes. In addition to the easy access to watersports, residents enjoy proximity to entertainment parks such as: Legoland, Fantasy of Flight, Disney, SeaWorld and Universal. The property is conveniently located near Polk State College, Florida Polytechnic, Winter Haven Hospital, shopping, dining, and entertainment. Located right along I-4, the metro has emerged as a key logistics hub. Publix, Walmart, Amazon, Aldi and Sherwin Williams all have warehouses or distribution centers within 15-miles of Winter Haven. The Winter Haven local economy has exhibited serious growth, fueled by hundreds of millions in investment, Winter Haven is welcoming new businesses, new jobs, and new capital to the community every day. Population growth projections are expected to be nearly 1.5%over the next five years, providing numerous tailwinds for the Winter Haven multifamily sector.

Investment Highlights

  • Turn-Key Asset
  • Spacious and Desirable Floorplans
  • Modern Construction with Townhome Layouts
  • Washer/Dryer, Dishwasher and Garages In-Unit
  • Gated Entrance with Swimming Pool, Playground and Dog Park

Location Highlights

  • Quaint, Single-Family Neighborhood-like Setting
  • Lakeview’s and Direct Lake Access
  • In Proximity to Local Demand Drivers and Employers
  • Average Household Income of $67,205 Within 1-Mile Radius

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.