Princeton Parc_판매용 부동산
Princeton Parc_판매용 부동산
4714 Crosswind Ct, Melbourne, FL, 32904-8431, US

Princeton Parc

자산 설명

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present Princeton Parc (the “Property”), a 2003-built, concrete block, 200-unit community located in Melbourne, Florida, a region in the Space Coast experiencing rapid economic growth and boasting robust multi-housing fundamentals. Princeton Parc offers a new investor the ability to achieve substantial upside through a proven value-add business plan, accretive in-place financing, and a strategic location in the high-performing Melbourne submarket. Constructed in the early 2000’s, the Property is ripe for upgrades as 96% of units have yet to be fully renovated. The units that have been renovated thus far have achieved average value-add premiums of over $350 for classic to fully renovated.​​​​​​​



단위 수
200 단위
건물 면적 순
30,644 제곱미터


투자 하이라이트

Compelling Value-Add Opportunity

Princeton Parc is achieving an average premium of over $350 per month on fully renovated units and 96% of units (193 units) are yet to be fully renovated, allowing a new owner to modernize the interior living spaces and drive additional rent premiums as supported by the market.

Concrete Block Construction Ensures Lower Insurance Cost and Fewer Cap-Ex Issues

The Property was built with concrete block and includes hurricane resistant glass windows, which significantly reduce storm damage risk, prompting lower insurance premiums.

Spacious, Open-Floor Plan Style with 2-Bedroom Unit Majority

The Property offers large units averaging 1,154 square feet, with 2-bedroom units comprising 68% of the total, giving residents and prospective tenants a more spacious alternative to comparable properties and more attractive rents from a per square-foot standpoint.

Convenient Access to Top Employers and Demand Drivers

Located off the heavily trafficked Palm Bay Road retail node with proximity to Interstate-95, Princeton Parc is only minutes from global-leading companies, headquarters, and higher education institutions within Melbourne’s renowned high tech and aerospace hub.

Ideal Multi-Housing Fundamentals

Located within the #1 U.S. state for in-migration and population growth, the Melbourne submarket has experienced nearly 16% annual rent growth over the past 3 years with only 1,156 units currently in the pipeline, including zero planned developments.

Top-Ranking Local Schools Cater to Melbourne’s Engineering Hub

Tapping into Melbourne’s highly educated population, leading employers in L3Harris Technologies and Northrop Grumman directly partner with local schools including Florida Institute of Technology (FIT) in design and Master’s programs, helping rank FIT as the 17th best school in the 2023 Global Employability Survey.

Accretive Assumable In-Place Agency Financing With Room For a Supplemental

There is a $24.25M senior Freddie Mac loan in place that matures in January 2030. The loan has a 3.73% fixed rate and remaining interest only period through December 2024. Furthermore, there is potential to add additional proceeds to the loan through Freddie Mac’s supplemental financing process.

담당자에게 연락하기

Princeton Parc (0 부동산)
질문이 있으신가요? FAQ 페이지를 방문해보세요
FAQ 페이지 보기Arrow Right
JLL은 포트폴리오를 금융화하고 관리하는 데 도움을 줄 수 있습니다. 오늘 이메일을 보내어 어떻게 당신의 야망을 달성할 수 있을지 알아보세요.
마지막 업데이트
2024년 3월 14일