TAMPA, FL - JBM Institutional Multifamily Advisors has facilitated the sale of Eldorado, totaling 120 units. The property sold for a purchase price of $18,200,000, or $151,667 per unit. Jamie May, Chairman & CEO of JBM Institutional Multifamily Advisors, stated the significant value-add upside coupled with the highly coveted Naples location is what drove the investor interest in the deal.
Eldorado has a variety of one and two-bedroom units with an average unit size of 910 square feet. The most common interior amenities include black appliance packages, refinished Formica countertops, raised panel cabinet and vanity fronts, ceiling fans, full size side by side or stackable washer/dryers in all units, vaulted ceilings in select first floor and all second-floor units and screened in patios and balconies.
Community amenities include a resort-style swimming pool with expansive brick-paver sun deck, pool-side covered verandah, community clubhouse with lounge area, full kitchen and business center, Wi-Fi throughout the clubhouse and pool deck, Amazon Hub brand package receiving and storage lockers, dog park and poolside BBQ grilling area.
The property was purchased by Kanesville Capital LLC. The JBM Institutional Multifamily Advisors team has listed and sold over 78,110 units within Southwest Florida, and over 157,000 units throughout Florida.