Rogue Valley Village
3761 South Pacific Highway, Medford, OR, 97501, US
£2,591,000 | 76 units
Asset Description
Jones Lang LaSalle, Inc. (“JLL”) is pleased to present Cobblestone on The Lake, a 248-unit multi-family three & four-story community in Fort Myers Florida. Originally built as condos, this asset is one of the few value-add candidates remaining in Southwest Florida as all units are original interiors. The buyer of Cobblestone on The Lake will benefit from a truly unique asset with exceptionally large unit interiors, two-car garages, townhome-style units, and 10-foot ceilings, and will have the ability to add value through their own unique approach.
Property Common Amenities
- Heated Swimming Pool
- Spa
- 24-Hour Fitness Center
- Clubhouse
- Lake Views
- Playground
- Pet Play Area
- Lifestyle Services Provided by Amenify
- Grilling & Picnic Area
- Gated Entryway
- Fully Secured Fenced Surrounding Entire Property
...
Attributes
Number of units
248
Year built
2008
Building area gross
254,000 sf
Media
Investment Highlights
- 1,330 SF average unit size - largest floorplans in market
- Concrete block exteriors, interiors, and subfloors
- All new roofs (2024)
- Fresh new exterior paint
- 90% two and three-bedroom floorplans
- 22% three-story townhome units with attached two-car garage
- 10-foot ceiling and vaulted living and bedrooms on all top floors
- Huge value-add opportunity - 5.0X+ equity multiple potential
- 14.3% projected 5-year rent growth
- $100K - 5-mile radius average income
Recent Property Improvements
- New roofs recently completed on all buildings (2024)
- Recently freshly painted exteriors (2023)
- Repairs and bringing online of irrigation system (in process)
- New pool fence surrounding patio
- Paint & furniture upgrade in clubhouse
- New FOB system for pool & fitness center
- Complete gutter repair & replace (in process)
- Landscaping improvements (in process)
Contact brokers
Cobblestone on the Lake (0 Properties)
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Last updated
1 Oct 2024
