- 340,000 sq ft
No. Units: 42
Lot Size: 2 AC
Price/Unit: $488,571.43 /Unit
Property Type: Multifamily
Property Sub-type: Mid/High-Rise
Property Use Type: Investment
Commission Split: 2%
Cap Rate: 8%
Prime location, beach-side, high-rise condominium built in 2006, has off-market bulk sale offer of 42 assorted apartments totaling over 60,000 square feet. Mix of 23 units: 1 bedroom 1.5 bath and 19 units 2 bedroom 2 bath. Most of the units are completely remodeled and fully furnished with high-end designer furniture. Full service building includes valet, pool service, deeded beach access, concierge, security, library, billiard room, party room, meeting room, business center,
children playroom, dog walking area and a top-of-the-line gym. Do not pass this rare opportunity to purchase bulk and control the Association.
This condo is located in the second fastest value growing areas in Broward county – Hollywood Beach. Restaurants, casinos, parks, shopping and entertainment – all in a very close proximity, most in walking distance.
Financial Summary / Actual
Net Operating Income / $1.641,600