Rent
$22,800 Annual
About
Investors|The amount of fractional share opportunities allocated for this investment.
5
Purchase Price|The acquisition cost of this property. This does not include any setup fees, renovation costs or cash reserves
$219,000
Monthly Rent|The gross monthly rent amount able to be obtained for this property
$1,900
The Pomodoro
About the Community:
Concordia Condominiums, located in NE Cape Coral, is a beautifully landscaped community. It has 34 buildings. Each with 10 units. Three on lower level and seven on second level. All have private attached garages and lanais. Construction was fully completed in April, 2010.
Concordia is a fenced in community with state of the art cameras, a security system activated with sirens and motion lights by the clubhouse, pool, and fitness center.
There are two convenient private walking paths to a shopping center w/Publix Supermarket, shops and restaurants.
All buildings surround a 5 acre man-made lake with a tri-circular lighted 10 HP fountain in the center.
Location is a short drive to beaches, golf and Fort Myers/Punta Gorda airports.
About the Property:
Beautifully updated 3rd floor condo, with a GARAGE in a lovely gated community in Cape Coral. This very spacious (almost 1500 sq ft) unit has an open floor plan with a separate dining room. Enjoy morning coffee on your lanai with a peaceful view of the Preserve. Each building has it’s own ELEVATOR. The clubhouse offers an exercise room and a beautiful community pool area. Water is included! Freshly painted, very clean.
Tenant leasing process
Rental Status|This shows whether a property is currently leased or seeking a tenant. If a property shows Seeking Tenant then we are currently focused on marketing the rental homes to prospective tenants and will email investors when a new lease has been signed. Arrived’s strategy for seeking tenants is focused on signing 2 year leases, staying close to the desired optimal market rent, and thoroughly vetting applicants. Though it may take a bit more time to lease out the homes, we believe these standards provide our investors the best way to maximize eturns over the long term.
Seeking tenant
First Rental Income Payment Date|The first rental income payment date for the first quarterly payment. Payments are disbursed each January, April, July, and October. Depending on when the property was rented, sometimes the REIP only covers a partial quarter.
TBD
Expected Annual ROI|ROI measures how much money or profit is made on an investment as a percentage of the cost of that investment. ROI for Fractional Ownership is calculated by your initial investment divided by net rent divided by the amount of investors with ownership in the property
2.4% / Year Rental Income
5% / Annual Equity
Total 7.4% Return
Timeline to rent
The time needed to sign the first tenant lease is variable and can depend on several factors including seasonality and whether the property requires any sort of renovations to be rent ready or HOA approvals. Typically the average time to lease has been 45 days and has ranged from a minimum of 7 days to over 90 days.
Offering Details
Property purchase price|Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident.
$219,000
Property improvements & cash reserves|Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident.
$10,100
Closing costs, offering costs & holding costs|Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident.
$8,760
DIHG service/setup fee (one-time)|Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident.
$5,000
Total property amount|Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident.
$242,860
Property loan amount|Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident.
$153,300
Financing: 70%
Interest Rate: 4.75%
Equity raised from investors|Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident.
$89,560
Hold period|Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident.
2 Years
Asset management fee (quarterly)|Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident.
Comes out of post-purchase rental income
$420
Features & information
Address: Joshua Tree, CA
County: San Bernardino County, CA
Coordinates: 34.078419, -116.325309
Acres: 5.00 Acres (Raw Land)
Terrain: Mountainous/Rolling hills
Elevation: ~4528.73ft
Improvements: None
Water: N/A
Electric: N/A
Location
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Address: Joshua Tree, CA
County: San Bernardino County, CA
Frequent questions
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