120 N. 62 Avenue

Alabama, 120 N. 62 Avenue, 33023

Property Description

No. Units: 6
Lot Size: 11,500 SF
Price/Unit: $69,166.67 /Unit
Property Type: Multifamily
Property Use Type: Investment
Commission Split: 3%
Cap Rate: 7%
No. Stories: 1
Year Built: 1979
Tax ID/APN: 514113120420
Status: Active

Just collect the cash! 6 unit, All Efficiencies, Class C building in booming rental area of Hollywood. Currently being run as a motel but zoned Multi Family (RM-18). With weekly and monthly rentals, this property generates a steady 9% CAP rate! No evictions or headaches; just cash! Keep current management in place or manage on your own for additional cash flow.

Location Description:
Located just North of Hollywood Blvd, West of the Florida Turnpike. Conveniently located near transportation, schools and places of worship.

Financial Summary / Actual
Scheduled Gross Income / $61,200
Operating Expenses / $31,560
Net Operating Income / $29,640

Unit Mix Information
Description / No. Units / Avg. Mo. Rent / Sq. Ft.
Efficiency Apartments with Full Kitchens / 6 / $850 / 300

Property Features

  • 9% CAP rate with no headache
  • All units with individual meters
  • Currently run as motel and month to month rentals
  • Great opportunity to invest at low price point
  • No evictions no headaches just cash!
  • Only $54 766 per unit!

Map

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