Looking to buy in 3104 PARKWAY BLVD (Zip 34747). property looks very cheap (codo hotel), whats the catch?

Alan
Home Buyer
UK

The property has been reduced by over 50% in the last 8 months and now stands at $30k. I'm new to the florida market so I'm keen to hear about the development, area and condo-hotels in general. Where can I find out the expected income from such a condohotel.

Answers (4)
Bob
Agent
Florida

Alan,

I can fill you in as I am heavily involved with the property, management & banks. My e-mail is mikaelam@aol.com

Bob

Sat May 16 2009, 06:55
Brent Ferry
Agent
Orlando, FL

I have some dated info on hand which I would be happy to forward if you want to e-mail me at brent@bferryhomes.com. It may help you as a guide as to how it is set up.

Of course we could also look at options in the short term residential vacation home market for comparison. This is more so my specialty.

Like anything there are pros and cons of each.

Fri Apr 24 2009, 05:03
Alan
Home Buyer
UK

Yes your right, my mistake. Any views on the potential income etc

Fri Apr 24 2009, 04:17
Brent Ferry
Agent
Orlando, FL
FIRST ANSWER

Hi Alan,

Actually, the listings start at about half that.

This is the Palms Hotel & Villas. At 3100 is the Parkway Palms Resort.

If I'm not mistaken, these used to be a Homewood Suites and a Hampton Inn (hotels) and were converted to a condo-hotel, and the individual units sold, by Hayes Reid Development. The management is by Hotel Condo Services.

Alternatively, there are numerous residential communities in the area which are approved for short term rental. This includes condos, townhomes, and single family homes.

Thu Apr 23 2009, 20:36

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