120 NE 20 Ave

Deerfield Beach, 120 NE 20 Ave, 33441

Quick Summary

Property ID
PR1104287153
Price
$3,100,000
Area:
11,360 sq ft

Property Description

No. Rooms: 22
Lot Size: 29,837 SF
Price/Room: $140,909.09 /Room
Property Type: Hotel & Motel
Property Sub-type: Economy/Limited Service
Additional Sub-types: Mid/High-Rise
Property Use Type: Investment
Cap Rate: 8.57%
No. Stories: 3
Year Built: 1967
Status: Active

Package of 22 condo units (11 units completely renovated) in a 38 unit building. Condo is being operated as a resort 1/2 block of award-winning Deerfield Beach.

Location Description:
On the corner of A1A (Ocean Blvd) and NE 1 street. Northeast corner. 1/2 block to beach and in the middle of the famous S curve entertainment district.

Financial Summary / Proforma
Scheduled Gross Income / $425,000
Effective Gross Income / $404,130
Operating Expenses / $150,800
Net Operating Income / $253,330

Debt & Equity Information
Debt Type / Proposed
Loan Amount / $1,000,000
Interest Rate / 6%
Amortized Over / 5
Due In / 5

Unit Mix Information
Description / No. Units / Avg. Mo. Rent
1/1 renovated / 9 / $2,166
1/1 non renovated / 10 / $1,958
2/2 renovated / 1/ $3,541
2/1 renovated / 1 / $2,500
studio / 1 / $1,050

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