22444-INCOME PROPERTY PORTFOLIO
Dania, FL
Multi-family for Sale - $1,000,000
Property Info
CIMLS# | 1016718 |
Location 22444-INCOME PROPERTY PORTFOLIO Dania FL 33312 | |
Updated | December 4th, 2018 |
Type | Multi-family |
Price | $1,000,000 |
Property Description
6-unit apartment portfolio, consisting of two neighboring properties. One of the properties is a duplex and the current rents are $1300 and $1250 monthly for each unit. Rent on one of the units is going up in May 2019 from $1250 to $1350. New central A /C units were installed in 2018 on both apartments, which previously had window air-conditioners. This should increase the property value and possible rental value, thus providing upside potential. The other property is a 4-Plex, and the current rents are low but can be raised to $1,350, which provides for upside potential. It is situated adjacent a 7.5-acre development site, where 36 brand new townhouses are being built. Once complete, it should increase the value of the property. All the units at both properties are 2 bedrooms and 1 bathroom. The roof for both properties were replaced on 2010 and the buildings are well maintained and always 100% occupied. A handyman lives in 4-plex premises and receives discounted rent in exchange for property repairs. The estimated repairs shown on the operating statement are much higher that actual repair costs, due to the live-in handyman, who performs almost all repairs for both properties. Owner pays for water approximately $270 per month. Tenants pay their electric--separate meters. Properties can also be sold separately. The asking price for the 4 units is $650,000 and $350,000 for the 2 units. For additional information contact Joseph "Joey" Dipietro at 954-342-6343.