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Miami Riverfront | Pre Let with a 10% Yield From Day One Guaranteed until 2011 | 70% LTV Mortgage
This is an outstanding opportunity to invest in a luxury property in the heart of Miami's financial district from $200 per square foot. Fanny Mae approved 70% finance for foreign nationals. Pre Let with a 10% yield from day one guaranteed until 2011.An extremely rare opportunity to purchase direct from the bank at only $211,000 a discount of 66% on the 2006 sales price of $644,400. The development is 90% occupied.
Downtown Miami is the home of these Riverfront condominiums, a distinction that puts you in the heart of all the action. From the building at River-front you can shop at the open air Bayside Marketplace, dine at one of the many varied restaurants, watch the Miami Heat at the American Airlines Arena or walk over to Dodge Island which is within walking distance from Ivy at River-front. For additional places to visit near the building at River-front condo, check out stylish Miami Beach or the lush island of Key Biscayne.
Downtown Miami pulsates with activity as commercial, cultural and leisure pursuits come together. Innovative Downtown Miami skyscrapers compete for your attention, while historic shopping arcades and storefronts packed with merchandise evoke Miami’s origins as a trading town. Downtown Miami department stores and emporiums offer big city shopping with a cosmopolitan flair, while Downtown Miami's diversity inspires dining delights in a variety of culinary styles.
The Riverfront Amenities:
- 13.5 acre lushly landscaped Oasis
- Located on the Miami River just steps or minutes from Brickell Village
- Close to Miami's Central Business District
- Easy access to Miami International Airport and the Beaches
- 900 linear feet of river frontage connected to the 5.5 mile riverwalk
- Gated community with 24-hour security
- Infinity edge pools
- Meditation Gardens
- Expansive outdoor sports area
- Riverfront Club-The community's social spot during the day and the evening
- Business Centre
- Arcade Billiards
- BBQ and Picnic Area
- Dock Facilities and a Proposed Marina
- Children's Playground Spa and Health Club
Residence Features:
- Bay and city views from private terraces
- Floor to ceiling glass windows
- Pre wired for cable TV, high-speed Internet and multiple phone lines
- European-style cabinetry
- Modern stainless steel appliances
- Granite and marble countertops
- Stacked washer and dryers
2 Bedroom Investment Summary:
- Peak Price in 2006: $644,600
- Estimated Current Value: $293,000
- Bank Sales Price: from $211,000 (Your Purchase Price)
- Estimated Equity On Completion: $82,000
- Deposit: $63,300
- Mortgage Advance: $147,700
- Annual Mortgage Payments: $8,862
- Other Annual Costs: $9,504
- Total Annual Costs: $18,366
- Yearly Rental Income: $21,600
- Annual Profit: $3,234
- Annual Cash on Cash Return: 5.1%
- International pulling power. Miami homes offer financial value to foreign buyers: International buyers benefit from the weaker U.S. dollar, multiplying their purchasing power.
- A long-term-growth state. Long-term economic and demographic trends continue to favour Florida. By 2010 economists forecast that Florida will be the third-most-populated state in the country.
- Great Prices and high inventory levels. Conditions are ideal for buyers to find their dream home. Inventory is still plentiful in all price ranges. But as sales volumes increase, inventory levels are likely to shrink. That reality translates into this advice for buyers: Don’t wait too long.
- A favoured retirement destination. Over the long term, Florida stands to benefit from the migration of the aging Baby Boomer generation, roughly 80 million strong. Demographic studies show that the Sunshine State’s mild climate and outdoor amenities continue to make Florida a top retirement destination.
- An unsurpassed lifestyle. Finally, let’s not forget the things that brought people to Florida in the first place, and will continue to attract them – beautiful beaches, fabulous weather and a friendly business climate, with no state income tax.
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The Ivy Miami Investment Prospectus
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