120 NE 20 Ave

Florida, 120 NE 20 Ave, 33441

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

Map

Contact Agent


Similar Properties

$257,000

1471 NW 20th Court

Florida, 1471 NW 20th Court, 33311
  • Area:
    2,052 sq ft
$4,500,000

340 Lido Dr

Florida, 340 Lido Dr, 33301
  • Area:
    6341 sq ft
  • Beds:
    5
  • Baths:
    5
  • Garages:
    4
$3,750

1501 SOUTHEAST 2ND ST

Florida, 1501 SOUTHEAST 2ND ST, 33301
  • Area:
    2255 sq ft
  • Beds:
    3
  • Baths:
    3