New Off-Market Duplex in Hollywood, FL, 10+ Cap Rate

[Gregory Avalone]

Price: $252,000 CASH or Hard Money ONLY

Est. Rehab: $10k-25k

ARV: $320k+

Cap Rate Potential: 11%

Est. MKT. Rent $3,200/month

Current Rent $1850/month

Layout: 5 Bed, 5 Bath (2215 sqft, 6430 sqft lot )

Fantastic duplex in Hollywood Beach Gardens. This huge CBS duplex is off-market and currently operating as a 4plex. It will need to converted back to duplex. (Full plans included, easy to fix just removing some walls and extra kitchen)

Property will be a 3/3 and 2/2 which will bring in $3,150/M making this a potential 11.1% cap!
Other comps are selling for 8% cap in this area. Much smaller duplexes are selling for around $300k.

Currently, there are 3 units occupied bringing in $1850/M total.

There are 2 FPL Meters. The 3 tenants are month-to-month.

Comps:
504-506 Glenn Parkway -duplex -Sold $300K
415 N 60th Way - duplex - Sold $280K
6100 Buchanan St - duplex - Sold $280K
5640-5642 Grant St - Duplex - Asking $405K!!