Special offer

Incredible Investment Opportunity 64 Units Vero Beach for $1,750,000

By
Commercial Real Estate Agent with THE JMTEAM NETWORK BK3212919

Executive Summary Bella Vista Isles Project

4 UNITS ALREADY BUILT

Bella Vista Isles a luxury town home development, located in the heart of Indian River County, Florida in close proximity to the City of Vero Beach. The site, comprising of 8 acres,  is located on the SE corner of 26th Street and 66th Avenue,  adjacent to the Indian River Mall and in close proximity to upscale shopping and dining  in downtown Vero Beach, as well as, golf courses, beaches and employment opportunities. In October of 2008 all site infrastructure, hardscape at perimeter, including extensive perimeter walls, community signage and landscape buffering is complete and certified. In addition, construction of our first four units, including two professionally decorated and furnished models is complete.  Concurrency is vested for the project and all impact fees have been prepaid ($900,000 value) and is included in the price, bring the actual cost for the 60 finished lots and the 4 models to $950,000.

Bella Vista Isles is comprised of 64 units in 4 and 6 unit buildings.  Four models, including the Catalina and the Monterey and newly designed models are priced from the 180's to the 190's.  The one and two story residences range in size from 1,450 AC SF to 1,739 AC SF and feature three bedrooms, two full or two full and one half baths, one car garages, covered porches, extensive landscaping and significant architectural design.

With an attractive entrance gate provided to insure no unauthorized access to the community and maximize privacy for residents. The community has been designed around a centrally located lake amenity.  Elements of the community include location of buildings around the lake or other landscape area or buffer, brick paver driveways and walkways, resort style swimming pool and cabana with extensive use of pedestrian walkways to encourage use of on-site open areas and recreational amenities.  

The marketing and sales program for Bella Vista Isles is in full swing and includes all POS (Point of Sale) marketing material, 2 fully furnished and professionally decorated models and a 24' X 60' fully furnished and decorated sales trailer. In addition to in-house and on-site sales staff the sales program includes coordination with a prominent local real estate sales firm long established in the Vero Beach and Indian River Market Area with  presence inside the Indian River Mall, as well as, coordination with local businesses and organizations including, but not limited to the Indian River Chamber of Commerce.  All marketing material, publications and media programming is coordinated with a professional marketing firm and includes, but is not limited to, weekly and biweekly publication in major newspapers, local New Home publications and various internet marketing campaigns.   

With units priced from the 180's Bella Vista Isles offers residences with an extremely competitive price point in a key location in Indian River. The convenient location accessible to State Road 60, I-95 and Federal Highway (US1) are anticipated to increase demand for the type of units being constructed in Bella Vista Isles.  

Summary

This project will be extremely successful due to its location and price point. The amount of land with this density that is available to develop in Vero Beach is extremely limited and very valuable. Based on the price points and Vero Beach's desirability and Bella Vista Isles' close proximity to the Indian River Mall this project will appeal to a large amount of purchasers. Market studies are available upon request.

Please contact me with any additional questions.

954-868-5863

JM Padron, CCIM, CRB

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