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$2,300,000
Est. payment /mo
5,058 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,058 sqft
Price per Sqft $454
MLS Listing ID A11800225
Construction Status Resale
HOA Y/N No
Year Built 1925
Annual Tax Amount $34,557
Lot Size 10,244 Sqft
Property Sub-Type Multi Family
Property Description
1621 Van Buren St, a well-maintained 11-unit multifamily property located east of US1 in the highly desirable Hollywood Lakes neighborhood, just steps from Young Circle. The building includes ten 1-bed/1-bath units and one studio, all with separate electric meters. Spanning 5,058 sq ft on a 10,244 sq ft lot, the property has undergone recent renovations and features a new roof and dedicated parking. At the asking price, it offers a solid going-in cap rate of 6.5%, with the potential to exceed 7% through modest rent increases. Seller financing is available with just 30% down and attractive terms, making this a compelling investment opportunity in a prime redevelopment area with projected pro forma gross income exceeding $225,000.
Location
State FL
County Broward
Area 3050
Interior
Heating Window Unit, Wall Furnace
Cooling Wall/Window Unit(s)
Exterior
Roof Type Built-Up
Private Pool Yes
Building
Story 2
Sewer Public Sewer
Water Public
Level or Stories Two
Structure Type Block
Construction Status Resale
Others
Tax ID 514215023380
Acceptable Financing Cash, Conventional, Owner May Carry
Listing Terms Cash, Conventional, Owner May Carry
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11800225
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Listed by Fausto Commercial Realty Consultants Inc