21 UNITS in Fort Lauderdale FL
Portfolio of 21 apartments. 8 plex – 6 plex – Triplex 2 Duplex – (8) 2-bedroom units, and (13) 1-bedroom units, located near Downtown Fort Lauderdale in close proximity to Flagler Village and within the Northwest Opportunity Zone. Average in-place rents of $1,012 per month which could easily be brought to $1,150 per month and increase the cap rate that is around 6% right now.. All Tenants pay their own electric. 529 Sf Average Per Unit 17 of the units have been completely renovated inside. The tenants have been 100% rent paying throughout Covid and deposit the rent directly through CashApp, Venmo, or in the owner’s bank account each month making for easy collections. 42% of the tenants have been in place for 2+ years. Current Actual Yearly Rent Totals = $255,060 Many units will be due a 5% rent increase this year. Cash purchase and quick close preferred but will entertain conventional financed purchase at asking price.
Available on 04.03.2021
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The sale of these properties may be contingent upon a successful close by the Buyer under Contract with the Current Owner. Seller may not be the owner of record of the property at the applicable court jurisdiction; however, the Seller holds equitable interest in the property along with the owner of record and such interest is documented through an executed Purchase and Sale Agreement