Gadinh Holdings LLC. closes on 17 rental home portfolio in Clay County Florida by Lazaro Dinh

Industry: Real Estate

Last month Gadinh Holdings LLC, a South Florida based Real Estate Investment firm, closed a $1,498,000.00 single family rental portfolio in booming Green Cove Springs, Florida. A small town between Jacksonville and St. Augustine, Florida.

Fort Lauderdale, FL (PRUnderground) May 31st, 2019

As of the census of 2010, there were 6,908 people, 1,987 households, and 1,402 families residing in the city. The population density was 789.0 people per square mile (304.5/km²). There were 2,199 housing units at an average density of 322.6 per square mile (124.5/km²).

The town is experiencing a surge of residents in the next 3 years due to Florida Gov. Charlie Crist signing legislation to allow construction of the First Coast Expressway almost 10 years ago. The First Coast Expressway (FCE, SR 23) is a multi-lane, limited access toll road that, once completed, will cross parts of Duval, Clay and St. Johns counties. Expressway traffic will pass through electronic toll gantries without stopping. The FCE will reduce congestion on other major roadways in the region, important not only for daily commuters but also critically important during times of storm-related evacuation. It will also bring many construction jobs to Clay County.

The purchase consisted on 17 single homes that with some value added renovation could see a rent increase of around 30% across the entire portfolio. The area is one of the most undervalue and booming towns in Florida where more than 1,000 residents are migrating daily from high taxes states and individuals looking for high paid labor work. The rental market is very limited and there is a high demand for middle income rental properties such as the once purchased by our Investment group.

We hope to continue investing in this area and hope to get involved with the town to find ways to improve the quality of residents and availability of quality rentals for the demand.


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