6028 Johnson St

Hollywood, 6028 Johnson St, 33024

Quick Summary

Property ID
PR1454154284
Price
$3,700,000
Area:
71,988 sq ft

Property Description

No. Spaces: 50
Price/Space: $74,000 /Space
Property Type: Multifamily
Property Sub-type: Mobile Home/RV Community
Property Use Type: Investment
Commission Split: 5%
Cap Rate: 7.30%
No. Stories: 1
Tax ID/APN: 514113040080
Status: Active

Royal Garden has 50 leasable pads. Located in desirable Hollywood, Florida. This is a fee simple transaction with no ground leases. All tenants are on a month to month lease for buyer’s convenience. There are currently 41 tenants. There is very little maintenance with low operating expenses. This park has a manager on site and is very easy to manage and operate. The total lot size is 71,988 sq ft (1.65 acres). It is very feasible this location can be developed into a residential apartment building, or commercial project. This property has over 220 feet of street frontage on Johnson St which is a major artery. Royal Garden is currently grossing $25,050 monthly, $300,600 annually. The expenses are $2,667 monthly, $32,009 annually. The actual net operating income is $268,716 annually. This NOI provides an investor a strong capitalization rate of 7.3% at the full asking price of $3,700,000. Please see attached package for dull financials and additional information. Please do not disturb any of the current tenants, all showings must be done by discrete drive by only.

Location Description:
West of 441 on Johnson Street

Financial Summary / Actual
Net Operating Income / $240,500

Property Features

  • 50 leasable pads. large lot over 1.65 acres. 220 foot frontage on major artery
  • Actual net operating income is $240 000
  • Future development potential
  • Low expenses. very easy to manage. manager on site
  • Solid Capitalization rate of 6.5%

Map

Contact Agent


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