$699,997

Property Description

Best deal in Broward. Build 26 units; can be micro units 350 sqft each to keep costs low. Total construction cost $2M+/-. Monthly rent per unit based on comps $1,500. Gross annual income $468,000. All in cost $3M+/-. $5M+ value once built based on 6%-7% cap rate. $2M in equity. Seller will finance. Opportunity zone: huge tax benefits. Seller had preliminary development meeting with city: confirmed included plans for 26 unit building are in accordance with current zoning. Could build larger 1 bedroom units. Great AirBNB potential being so close to Hard Rock & main highways. Active comps $58k-$138k per unit for land. Recently sold comps $50k-$59k per unit for land. Subject property under $27k per unit; approx 50% OFF market value. See pics. Large duplex on property producing cashflow.
Courtesy of United Realty Group Inc.

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Rob Lyszczarz