Fort Lauderdale Beach Condo Hotels
With the Conrad generating a ton of activity, I'm fielding a number of inquiries about other condo hotel projects on Fort Lauderdale Beach. I've been looking at condo hotels this week for a client who is interested in purchasing a unit. Two condo hotel projects I like are the Atlantic Hotel, and the Q Club Fort Lauderdale Beach. There are few projects on Fort Lauderdale Beach that offer direct ocean views, each of these do. These buildings are really geared towards the second home crowd.
The draw to owning a condo hotel unit is that it allows you to own a vacation property, but offset the cost of ownership through income received on nightly stays while you're not there. If you're considering purchasing a condo hotel on Fort Lauderdale Beach, don't expect it to be a cash cow. You'll likely be cash flow neutral, or negative. That's assuming that you spend a decent period of time in the unit yourself throughout the course of the year, which would deduct from the income stream. Condo hotel units are great, for the right buyer. If you're looking for something that throws off a lot of income, this probably isn't the investment for you. Once you've selected a unit that you have a purchase interest in, we can get the units financials which will allow you to clearly see the units past income performance. It will also show you the units expenses. Expenses on condo hotels run high because you're paying for booking, active management, room cleaning, building upkeep, the list goes on. On the bright side, condo hotels an incredibly passive with respect to ownership. You're not going to get calls from tenants, or have to deal with daily upkeep of the unit from the walls in (which would be your responsibility in a condo).
The Atlantic Condo Hotel Fort Lauderdale Beach
I really tend to gravitate towards the Atlantic Hotel when I'm reviewing condo hotel projects. At the time of this posting asking prices in the Atlantic Hotel ranged from $450-$550 per square foot. The Atlantic is very well maintained, and you can see from the photo below there are a number of units that offer the most direct ocean views you could ask for. No angles, no craning your neck for a partial ocean view, these are very direct ocean views.
Hilton's Q Club on Fort Lauderdale Beach is operated by the same group as the Conrad. At the time of this posting active prices were ranging from $400-$550 per square foot. There are a number of units that have ocean views, though as you can see from the design those will be partial ocean views. That being said, the units are very nice.
As I said in the beginning of the post I've been in these buildings this week, and will be again next week, looking at units for a client. There's a decent amount of for sale inventory in both the Q Club and the Atlantic. You can't beat the location of these buildings.
I was also surprised to find out that there is financing available for both of these condo hotel projects. I was having a coffee earlier this week with Jeff Lackowitz of Mortgage America Investors, LLC. He has lenders that are willing to finance in both projects with a minimum of 35% down (in other words they will finance up to 65% of your purchase price). If you'd like more information on financing in these buildings I'd encourage you to contact Jeff. He can be reached via email (email@example.com) or by phone (786-489-7678).
I work as a Realtor in Southeast Fort Lauderdale. If you’re interested in buying or selling a home, condominium, or townhouse (townhome) in: Rio Vista, Victoria Park, Downtown Fort Lauderdale, Fort Lauderdale Beach, Sailboat Bend, Tarpon River, Croissant Park, Collee Hammock, Wilton Manors, Poinsettia Heights, Coral Ridge, or Las Olas Isles, please feel free to contact me at (786)443-7203 or through my email firstname.lastname@example.org. I am a Realtor that works on Saturdays to accommodate those with busy schedules.
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Written By Casey Prindle