Fourplex For Sale, In Hollywood, FL, Turnkey Rental at 8% Cap

[Gregory Avalone]

Price: $359,000

Est. Rehab: $20-30k

ARV: $450k+

Actual Rent: $3515/month

Est. Rent $4400/month

Cap Rate: 10%+

Layout: 3/1, 2/1, 1/1, + Efficiency

Legal four unit, 2 story building located 1/2 mile from Sheridan Street in Hollywood. The building is 2,922 sq ft on a 1/4 acre lot. Property consists of a 3/1, 2/1, 1/1, and an efficiency. Laundry on site with 4 separate meters. Currently 8% cap rate with no improvements. Excellent value add opportunity to make cosmetic improvements and increase rents to market rent in an area of Hollywood with high rental demand.

*only 2,000+ sq ft income property in the area selling for under $118k/door

COMPS (closed sales)
2212 Johnson St quadplex (6 beds / 4 baths total) 3,387 sq ft, $460,000 12/8/16 ($115k/door)
2208 Garfield St triplex (5 beds / 3 baths total) 2,871 sq ft, $414,000 6/29/17 ($138k/door)
1859 Lincoln St quadplex (8 beds / 8 baths total) 3,838 sq ft, $530,000 1/17/17 ($132k/door)
2507 Cleveland St triplex (6 beds / 4 baths) 3,096 sq ft, $444,000 5/12/17 ($148k/door)
1316 N 19th Ave duplex (4 beds / 2 baths total) 1,875 sq ft, $315,000 5/5/17 ($175k/door)

COMPS (active listings)
1928 McKinley St quadplex (7 beds / 5 baths total) 3,432 sq ft $565,000
1710 N 17th Ave quadplex (6 beds / 4 baths total) 2,817 sq ft $649,000
1708 N 16th Ave quadplex (6 beds / 4 baths total) 2,945 sq ft $565,000
2133 Coolidge St quadplex (4 beds /4 baths total) 1,428 sq ft $389,900
2114 McKinley St triplex (3 beds / 3 baths total) 1,444 sq ft $350,000

Contact me for details

Greg Avalone

305-900-7391