Multifamily Property Condition Assessment

Nautica Apartments

Nautica Apartments

A Multifamily Property Condition Assessment

The Property

Nautica Apartments is an apartment complex close to Treasure Island and the gulf beaches near St. Petersburg, Florida.  The complex consists of 264 units, eight buildings, with full amenities.  There are studio, 1 and two bedroom floor plans.  Buildings feature balconies and terraces, elevators, and concrete block construction.  The complex’s amenities include: community clubhouse, fitness center, on-site laundry and a sparkling swimming pool.

The Challenge

CBC received the phone call to perform the Property Condition Assessment at 9 a.m. with the need to get the job done ASAP. The buyer needed to make a quick decision or risk losing the deal.  Flexibility is important to our team, so CBC made it happen.  The Property Condition Assessment took place the very next day and the buyer had the information needed to make the decision.

Highlighted Findings

The apartment complex was found to have only limited issues that needed immediate remediation.

Project Highlights

The Pool was in Good Condition.

Property Overview

Insufficient sloping results in ponding of water on balconies.

Location of a cast iron waste pipe break. The flooding caused water damage and mold growth.

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