271 NW 41st Street, Oakland Park, FL
Multi-family for Sale - $450,000 - 2,608 Sq. Ft. on 0.19 acres
Property Info
CIMLS# | 1044573 |
Location 271 NW 41st Street Oakland Park FL 33309 | |
Updated | April 19th, 2019 |
Type | Multi-family |
Price | $450,000 |
Building | 2,608 Sq. Ft. |
Land | 0.19 acres |
Property Description
Oakland Park 4-plex with more than $20,000 in recent capital improvements offered at a 7% CAP rate. Just off Andrews and just south of Commercial, just off 95. The property is solid concrete block and stucco construction, and the roof was replaced at the end of 2017 and the entire electrical service with a new weather head, service entrance, distribution panel, and meter cans was also completed replaced earlier this year. Two of the units were renovated in 2010 and two could use upgrades if desired. Two units have been occupied by the same family for 20 years. One of those tenants serves as an onsite property manager who collects rents, handles maintenance and mows the lawn. Rents range from $800/month to $925/month and can be increased across the board. This is an ideal starter property for a first-time investor, easy to understand, maintain, manage and finance.
Financials
Effective Gross Income......................................$41,460
Operating Expenses ..........................................$10,246
Net Operating Income........................................$31,214