271 NW 41st Street, Oakland Park, FL

Multi-family for Sale - $450,000 - 2,608 Sq. Ft. on 0.19 acres

Century 21 KoRes Commercial

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Agent Info

NameAdam Von Romer
CompanyCentury 21 KoRes Commercial

Property Info

CIMLS #1044573
Location271 NW 41st Street
Oakland Park FL 33309
Last UpdatedApril 19th, 2019
TypeMulti-family
Price$450,000
Building2,608 Sq. Ft.
Land0.19 acres
DemographicsView data

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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



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