Royal Greens

Lifestyle Activities

Coastal , Development , Resort , City , Golf

Amenities & Services

Schools, Shops, Swimming Pool, Clubhouse, Management

Property Characteristics

Renovated, Freehold

Fixtures, Fittings, Furnishings

Air Conditioning

Full Description

24 Month Paid HOA and No Closing Costs


Royal Greens is a prestigious golf course community located in Fort Myers on the south west coast of Florida. The units are already tenanted and offer exceptional net yields of 10.8% and are being offered 60% below previous list price.


The condos built in 1998 and subsequently refurbished in 2008 offer one, two and three spacious bedrooms, central air conditioning, fully fitted kitchens and appliances. The site boasts a large community swimming pool, 30 seat theatre, indoor basketball court, 24 hour gymnasium, clubhouse and championship 18 hole golf course.


Location

The site is well sought after by people looking to rent and purchase as its location is exceptional, located as it is in the heart of Gateway, only 3 miles from Interstate 75. Its fantastic location and close proximity to schools, hospitals, universities and businesses ensure that this development is always in high demand. Fort Myers is not only one of Floridas most popular holiday destinations but is also one of the fastest growing cities in Florida. A brand new international airport, beautiful beaches on the Gulf of Mexico and an abundance of championship golf courses attract around 5 million visitors a year. A high proportion of the current tenants work in the local hospitals and universities.

To find such facilities in such a great location at this price is a rarity.

Lee County is showing signs of rebound. Home Sales are up 180% in the last four months with over 1900 properties sold last month. This shows the beginning of the return of consumer confidence. Now is the Time to Buy!

Property Summary

1,2 and 3 bedroom apartments

Freehold

Totally refurbished in 2008

Resort clubhouse, theatre, gymnasium, basketball court on site

Located on a 18 hole championship golf course

Very popular location

Close to all shops, schools, employment centers, restaurants and beaches


Worked example for the property for 1 bed


Purchase price: $55,000

Rental Income: $8,628

Management Fee: $863

Property Tax: $1,794 - will fall when reassessed

Cash Positive $5,971

Net Yields 10.8%