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NEWS ON THE BEACH
Only one new occurrence in our 4 complexes, A Windrush unit in the front buildings is now listed at $119,000. This is a 2nd floor with 2 bedrooms 2 baths with 1240 sq ft.
Beachside market
This picture is the view from 3rd floor unit at Siesta Del Mar.
Almost on a daily basis some good opportunities are popping up on the beach that never used to appear. It wasn’t long ago that if we had investors with limited resources we would inevitably end up on the mainland. It has definitely changed!!
We saw a new listing appear in the Cocoa Isles area that is not on the water but it is a 3 bedroom 2 bath single family home listed at $100,000 in Cocoa Beach. It is a foreclosure and I am sure it needs updating but 100K in Cocoa Beach. In today’s lending market if you had a loan of $80,000 your total monthly could be as low as $629. If you rented as low as $900 a month, you would have updates paid for in a year and have cash flow until the market turns. I am sure there will be multiple offers so it will probably be gone tomorrow.
Condos
Siesta Del Mar is an oceanfront complex in Cape Canaveral. The complex has a pool, ocean access, I car garages, secure lobby and elevator. A short sale on the 1st floor sold for $135,000 this year. There are 2 other active short sales, 1 is on the 2nd floor with side views it is a 2 bedroom 2 bath with 1217 sq ft, listed at $130,000. The other is on the 3rd floor with side views has the same features as the 2nd floor listed at $162,000, this was a bank approved price but the buyer backed out. This complex has replaced windows and doors and offers monthly rentals.
Tell your friends!
The Cocoa Beach greens are in good shape so get out and enjoy the golf views of Cocoa beach!
Jim Bagwell
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