SOUTH FLORIDA ESTATE - INVEST AT 50% OF APPRAISAL
BLUE CHIP SALE/LEASEBACK OPPORTUNITY
| Start Price |
USD 6,000,000.00 |
| Current Price |
USD 6,000,000.00 |
| Time Left |
- |
| Bid Count |
9 |
| Buy It Now Price |
- |
| Reserve Price |
- |
| Start Time |
Wednesday, October 29, 2008 |
| End Time |
Friday, November 28, 2008 |
| Location |
Delray Beach, Florida |
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See more about 'SOUTH FLORIDA ESTATE - INVEST AT 50% OF APPRAISAL'
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Description
For more information please contact Jim West at 423-855-1155 or email at jwest@omnimarkfinancial.com Mediterranean home in Delray Beach, Florida This extraordinary home is focused around a beautifully landscaped courtyard, with pools, spas, fountains and natural stone features, while its exceptional Italianate architecture takes full advantage of the breathtaking views from almost every room. The heart of this magnificient home is a stunning central courtyard, pool, pavillion and spa that serves as an enchanting open-air extension of the home's living space. The exterior centerpiece of Mediterra is the two-level, curved and colonnaded bridge that connects the main home to the separate two-level guest house. The poolside guesthouse contains a fitness center on the ground floor and a large guest suite upstairs. Among the luxury features in the main house are a two-tiered theatre, temperature-controlled wine cellar and a fabulous game room. The owner of this outstanding Mediterranean home in Delray Beach, Florida is seeking an investor for a short term Sale/Leaseback transaction. The property was recently appraised for $12,600,000 and the owner purchased the home new for $9 Million in October of 2005. Three additional appraisals are available with values in excess of $12 Million. The adjacent property is being offered for $17 Milion. The owner of the property is willing to sell the property for $6,000,000 subject to a lease with an option to repurchase the property at a premium to the buyer within four years. In the unlikely event of a default on the Lease by the property owner/seller, an investor would have acquired this magnificent premium property for 50% of its appraised value for personal use or for resale. The Buyer would receive a 12.5% return (CAP rate) on the total investment of $6,000,000. Another advantage for the Buyer is acquiring a blue chip property in a guarded and gated community at a fraction of value, where the smallest home is over 10,000 square feet. All are 2 1/2 acre Estate Homes and all are on a lake. The Buyer will earn an additional $500,000 per year when the Seller buys the property back. That half-million per year is guaranteed regardless of whether the market goes up or down, upon re-purchase of the property. Initial Investment: $6,000,000 Annual Rental Income: $750,000 Repurchase Premium Per Year: $500,000 Return in Four Years: $11,000,000 Click to view Virtual Tours of This Home: Foyer Wine room Kitchen Media room Master suite Her walk-in closet His walk-in closet Loft Courtyard Entrance Dining room Gallery Family / game room Library Her master bath His master bath Grand guest suite Exercise room Pool Motor Court Patio
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