Lofty 440 Louden Ave

Renovated Duplex located half a mile from the ocean in Dunedin, Florida

Offering Details

• The owner and Property Manager, Alec Vanbeek, is selling a portion of his equity on the Lofty Marketplace.
• This property has a loan of $297,666.70. View the current loan balance here
• The Rental Yield is based on the equity value of $151,850 (Total Investment Value minus Debt). As Alec pays down the debt payments himself in full, his equity percentage in the property will increase and the equity percentage of investors on Lofty will decrease proportionally.

Property Details

• Fully occupied Duplex located just a half-mile from the ocean
• Updates include a new garage roof, two new AC units, new water heater, new appliances, and new flooring & paint
• Includes a detached, oversized garage at 1,080 sq ft which is rented by one of the tenants
• Dunedin is home to unspoiled islands, white-sand beaches, miles of trails, and a lively, bike-friendly downtown of quaint shops, craft breweries, and independent eateries
• Alec is providing a credit of $6,650 for a new roof, based on this estimate, once the current roof reaches the end of its expected life
• Items repaired from the inspection report can be viewed here

Property Management and Insurance

• Managed by the seller, Alec Vanbeek
• Insurance Policy from Citizens

Occupancy Status

• Unit A
  • 1 year lease (01/12/2024 - 01/11/2025)
  • $1,425/month
  • $1,400 Security Deposit
  • Lease Agreement
• Unit B
  • 1 year lease (01/01/2024 - 12/31/2024)
  • $1,300/month
  • $1,300 Security Deposit
  • Lease Agreement
• Garage Unit
  • 1 year lease (01/01/2024 - 12/31/2024)
  • $500/month
  • $500 Security Deposit
  • Same tenant as Unit B
  • Lease Agreement

Location Data

• "B+" Rating for Zip Code on Niche

Due Diligence Documents

• QuitClaim Deed
• Appraisal
• Inspection Report
• Inspection Report Repair Photos & Invoices
• Title Report
• Operating Agreement
• View All Documents