Villa Regina Brickell- A hidden Gem in Brickell
Villa Regina Brickell – A Well Maintained Brickell Condo With Great Investment Potential
Villa Regina Brickell is a financially stable building and as important, a beautiful one where people want to live, one where the facilities offer superior views & a superior location and a superior pool, marina & amenities. All in all, a better than average investment – really, an undervalued stock!
This article was written in 2014 and information or values might have changed. Call me directly at 305.508.0899 for the latest information on Villa Regina and Brickell Condos for Sale
Why Villa Regina Brickell is a good investment property from my perspective:
A real estate investment or purchase decision should be approached as if one is to buy/invest in a stock. The investors should view the Condominium as a business, carefully understanding how this business is growing, how the business is operated and who operates the business on a day-to-day basis.
- Villa Regina is an extremely & very well maintained and managed Brickell Condominium. All the common areas, including the residential hallways and building amenities are in great condition.
- The entire building is being repainted, to restore to its original luster
- All the non-balcony & common area windows will be upgraded to impact glass in the next 6 months; Owners will be also be given an option to change their balcony sliding door & windows to impact glass too
- The Fitness Area (a large & well-proportioned space) has recently been renovated and new state of the art cardio equipment has been installed
- A direct bay view 6,000 Sq.ft ballroom/party room that accommodates up to 125 people, will also soon be updated for high impact glass
- The Kings Club bay view room will also be subject to a soft update, which will feature an contemporary Bar area & including exclusive Wine Locker Memberships
- A 22,000 Sq.Ft deck with 180 degree direct bay views is also being renovated to feature glass walls, new landscaping and new deck pavers
- The building also offers a recently constructed children’s playroom, for the growing number of families in Villa Regina
- Completion of the composite-building & art restoration work is expected to be completed early in 2015
- Villa Regina offers deeded private marina boat slips
- Villa Regina is a landmark within the Brickell community and is easily recognizable from all surrounding vantage points, due to its unique pallet of the entire color spectrum. Villa Regina is also considered a very large piece of artwork and painted by sculptor and experimental artist, “Agam”, best known for his contributions to optical and kinetic art.
- Villa Regina offers the ideal environment for all walks of life, including families with young kids that require a safe environment in a Brickell / Downtown location.
- Villa Regina is WATERFRONT and despite Brickell’s enormous amount of new Condo growth and development, Waterfront is not an improvement that can be created.
Villa Regina is currently selling below $400 per Sq.Ft – . Brickell Resale Condos are selling at an average of $427 per Sq.Ft and Brickell Pre-construction Condos at an average of $627 per Sq.Ft (Starting at $450 per Sq.Ft)
Comparing Villa Regina condos for sale with other Brickell avenue condo units surrounding it, Villa Regina offers the “best investment value”. By way of example, The Atlantis on Brickell offers lower prices per sq.ft but the building is dated and does not offer the same quality of amenities (Prices are taken from the average price per Sq.Ft of units which sold in the last 12 months)
Villa Regina Units
- From Large studios of 1,000 Sq.Ft (08 Line) to Amazing 3 Be/3 Ba Units of 3,100 Sq.Ft with wrap around terraces (East side of the Building (01 line))
- Rental policy : minimum 1 year.
- The renters-to-owners ratio is 27% ‘renters’.
- The professional Management and Maintenance team, at the property over 15 years (First Service Residential) provides in-substance reinsurance and great incremental investment value
Finance – Villa Regina Brickell
- Maintenance is $0.71 per Sq.Ft
- No increase in maintenance in the last 4 years
- Prior to commencement of the restoration project, the Association earmarked funding of $1.8M from existing cash Reserves
- Current Reserves (1st quarter of 2014) reflect a balance of approx. $600,000. The Board strives each year to fulfill and meet all financial obligations, sourced from it annual budget.
- The last assessment was 9 years ago, in connection with a major renovation to update the common areas, including the lobby, as well as the residents’ hallways. Other improvements included passenger elevators, a new roof with a 20 year warranty and a magnificent infinity pool, facing the marina and Biscayne Bay