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 Off Market Triplex in Ft Lauderdale, 65% Renovated. 7% Cap

  • Apartment
    2766 square_feet
    bedroom 6 Bedrooms
    bathroom 3 Baths
  • Rental
    $400,000 0
    Status : Available
    Year Built : 1976
 Description
Asking Price
USD 400,000


By Appointment Only

 
County
Broward
Rehab Minimum
USD 0.00
Neighborhood
 
Rehab Maximum
USD 5,000.00


Occupant Info
Unit #1- occupied by long term tenant. Renewed lease 01/20 for $1,100/month.
Unit #2- vacant and renovated.
Unit #3- vacant and renovated.
 
 
Type
Multi Family
ARV Minimum
 
Number of Units
3
ARV Maximum
 
Property Make-up
All three units are 2 Bedrooms, 1 Bathroom (2/1 x 3)

Fourth non-residential unit w/ separate meter + plumbing for laundromat revenue.
 
 
 
 
Estimated Rent
USD 46,800.00
Year Built
1976
Actual Rent
USD 13,200.00
Size
2,766.00
 
 
Lot Size
7,500.00
Deed Restriction
No Deed Restriction
Bedrooms
6
Bid Page 2 Additional Terms (obsolete)
 
Bathrooms
3.00
Tax ID Number
494228190230
 
 
Legal Description
FT LAUDERDALE ESTATES 1ST ADD 80-28 B LOT 6 BLK 6
Pool
No
Description
Fantastic off market Triplex in prime Lauderdale Manors. Situated in the middle of Mills Pond Park on a quiet, well maintained cul de sac. Two of the units have just been updated.....ready for top market rental income. ($1250 EACH) The third unit is rented to a long term resident for $1100 a month. This effortless investment is equipped with a separate meters and each unit has its own central AC along with utility hookups for the landlord to install a coin wash operated washer and dryer to capture additional revenue.

1 unit is currently rented for $1100 a month.
Market rent in the area is $1200-$1300 a month.

All of the comparable duplexes and quad-plex comps are 150k per door. (Un-renovated) These are fully updated and being offered for less.



COMPS:

1490 NW 19th Ct. $300,000 4 Bed, 4 Bath, 1,932 s.f. DUPLEX, unrenovated

1461 NW 19th CT $299,000 4 Bed, 4 Bath, 1,932 s.f. DUPLEX, unrenovated
Air Conditioning
Central
 
 
Construction
CBS
 
 
Zoning
08 / MULTI-FAMILY
 
 
Addendum Special Sale Terms
Notwithstanding the foregoing, in the event there is a monetary fine associated with any of the Encumbrances, Seller may elect, at it’s sole discretion, to (1) pay for such fines or provide Buyer a credit equal to or greater than such fines at closing; or (2) grant Buyer the option to either (a) terminate the Agreement; or (b) close on the property subject to such fines.
 Rehab Work Needed
 General Amenities
 Tags

 Summary

Overview
Off Market Triplex in Ft Lauderdale, 65% Renovated. 7% Cap Rental
$400,000
Property ID: FL200214079
Address: Login to View
City: Fort Lauderdale
State/Province: FL
Zip Code: 33311
Country: USA


Rental Analysis

+ Purchase Price: $400,000
+ Purchase Closing Cost: $12,000
+ Rehab Cost: $15,000
Total Acquisition Cost: $427,000


Monthly Rent: $3,600
+ Annual Potential Rent: $43,200
- Vacancy (3%): $1,296
Annual Gross Income: $41,904
Annual Gross ROI: 9.81%


 Message

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