Wade M. Berlin

New Port Colony | 36 Unit Multifamily Investment | New Port Richey, FL | 10% Cap Rate. If you've been searching for a turnkey multifamily investment that truly checks every box, New Port Colony deserves your full attention. This 36 unit, 55+ community in New Port Richey, Florida is generating a 10% cap rate and once you understand what's included, it's easy to see why. The unit mix is well balanced, with 19 one bedroom/one bath, 13 two bedroom/one bath, and 4 two bedroom/two bath homes, all within a single complex. Every unit has been updated and comes equipped with central heating and air. And here's what really sets this property apart: all 36 units have their own private garage washer/dryer hookups in the garage of each unit. Residents get their own parking and their own laundry, all tucked right outside their door. There's a pool, shuffleboard, and a neighborhood feel that residents take pride in. Residents have the option to join the Gulf Harbors Beach Club one of the only private Gulf front beach clubs in the area for just $200 a year. It's a small cost that adds a lifestyle element most apartment communities simply can't offer. Day to day living is easy. Groceries, restaurants, shopping, and medical facilities are all close by, which matters a great deal to the 55+ residents who call this place home. The 55+ demographic is one of the most stable tenant bases in residential real estate low turnover, consistent payment history, and genuine pride of residency. New Port Colony reflects all of that. Strong returns, updated units, a private garage, and a beach club down the road.