All Forum Posts by: Gregory Avalone

I have an off-market deal available on the Venetian Islands in Miami, FL. Very popular area of Miami. Very hard to get a fully renovated home in this area in the $2 Million range. Will be a quick sale after renovations.

Price: $1.35 Million

Repairs: $400k ($181/sqft) for high end renovations (needs roof) Probably could do renovations for half this budget.

ARV: $2.2 - $2.35 Million

Profit Potential- $400k-$600k!!!

3 Bedroom, 2.5 bath (2,200 sqft home on 7,200 sqft lot)

Has pool

Has 2 car garage that could be converted to extra bedroom

Dry lot not directly on the water.

Serious inquiries only. Not doing an open house. Cash or hard money only.

Contact me at 305-900-7391 if you have any questions or interest.

-Greg Avalone

Contact for details.

Miami Gardens Commercial Lot (2 Folios) – 8400 sqft

Price: $165,000

Lot Size: 8,400 sqft

Fantastic vacant corner commercial lot zoned NC (Neighborhood Commercial) located directly on NW 27th Ave. in Miami Gardens area. This is a prime retail corridor, with an outstanding traffic count of 51,000 vehicles per day, and located directly down the block from a Winn Dixie anchored shopping center. Site is located just off the entrance and exit of the Palmetto Expressway, near 2 local universities. NW 27th Avenue is experiencing tremendous growth, including a 250,000 sq. ft. Marshalls-anchored shopping center with a brand-new Wawa, and is minutes from Amazon’s new 850,000 sq. ft. fulfillment center.
At $19/SF, this piece of land is an amazing opportunity.

Zoned NC (Neighborhood Commercial)
Zoning also falls into the Miami Gardens "Entertainment Overlay District"
(see attachments)

2017 Assessed Value: $168,000 ($20/SF)

Sold Comps:
19180 NW 27th Ave - $35.10/SF (28,500 SF Lot, zoned NC)

On Market Comps:
2801 NW 102nd St - $32.40/SF (40,005 Lot, Zoned RU-1)

12940 NW 27th Ave - $22.60/ SF (53,084 SF Lot, Zoned B-2)

18809 NW 27th Ave - $25.17/SF (43,700 SF Lot, Zoned NC)

Price: $130,000 CASH or Hard Money ONLY

Est. Rehab: $10k-15k

ARV: $160k-175k

Cap Rate Potential: 11%+

Est. MKT. Rent $1,700/month

Current Rent $500/month

Layout: 4 Bed, 1 Bath (1240 sqft, 8000 sqft lot )

Off Market Prime Liberty City 4/1 for sale. This home is in an excellent central Miami area that is constantly improving.

With some updating, this property will be a great rental property and bring in $1,600 -$1800/m for an 11-12% cap rate.

Property also sits on a huge 8,000 sq. ft. lot lot zoned RU-2 duplex for fantastic future upside.

Rented Comps:
754 NW 61st St $1,750 3/2
1083 NW 66th St $1,700 3/2
619 NW 69th St $1,850 4/2

Price: $85,000 CASH or Hard Money ONLY

Est. Rehab: $50k-60k

ARV: $200-220k

Layout: 4 Bed, 2 Bath (1546 sqft, 5400 sqft lot )

Off Market single family home available in Fort Lauderdale east of I-95, close to downtown. The property is CBS construction and is vacant. Tax roll shows 3/1 but the property is a large 4 bed / 2 bath and 1,546 sq ft. The property needs a complete rehab including a new roof and central ac installation. Excellent return on investment on this flip in a neighborhood where single family homes are selling quickly.

SUBJECT PROPERTY
4/2
1,546 sq ft ($55/sq ft)
5,400 sq ft lot

$85,000 Purchase Price
$60,000 Renovations
$12,000 Commission on Sale ($200,000 sales price)
$200,000 - $157,000 = $43,000 net (29% return on $145,000 investment)

COMPS (closed sales)
525 NW 15th Ter 3/2 1,106 sq ft $175,000 ($158/sq ft, 29 DOM)
1515 NW 4th St 2/1 1,056 sq ft $175,000 ($165/sq ft, 0 DOM) 

1804 NW 8th St 3/2 1,250 $190,000 ($152/sq ft, 18 DOM)
1600 NW 5th St 4/2 1,160 sq ft $150,000 ($129/sq ft, 3 DOM)
1528 NW 4th St 4/2 1,213 sq ft $219,000 *pending ($180/sq ft, 11 DOM)

Price: $250,000 CASH or Hard Money ONLY, Inspection must be done before contract.

Est. Rehab: $10k-25k

ARV: $300k-350k

Cap Rate Potential: 9%

Est. MKT. Rent $2,700/month

Current Cap: 5.6%

Current Rent $1575/month

Layout: (1557 sqft, 6450 sqft lot )

Off Market Duplex located on North Dixie Hwy in Fort Lauderdale. The property is CBS construction and consists of 2/2 + 1/1 units on a 6,540 sq ft lot. Both tenants are month to month and paying below market rent. The property is in need of a rehab to include central air installation. With a $25k rehab you would have one of the lowest priced income properties in the area. Excellent flip opportunity in a central Fort Lauderdale neighborhood near Wilton Manors and Flagler Village.

Subject Property
DUPLEX 2/1 + 1/1 1,557 sq ft ($151/sq ft, $122k/unit)
*the next cheapest duplex in the neighborhood is asking $350,000

COMPS (closed sales)
1000 NE 14th Pl DUPLEX 2/1 + 2/1 1,248 sq ft $387,500 ($310/sq ft, $194k/door)
1404 NE 17th St DUPLEX 2/1 + 2/1 1,248 sq ft $360,000 ($288/sq ft, $180k/door)
708 NE 15th St DUPLEX 2/2 + 1/1 1,500 sq ft $300,000 ($200/sq ft, $150k/door)
630 NE 15th Ct DUPLEX 1/1 + 1/1 1,306 sq ft $339,000 ($259/sq ft, $170k/door)
827 NE 16th Ct DUPLEX 2/1 + 1/1 1,224 sq ft $285,000 *wood frame foreclosure ($232/sq ft, $142k/door)

COMPS (active listings)
1009 NE 17th Ct DUPLEX 2/2 + 1/1 1,298 sq ft $399,900 ($308/sq ft, $200k/door)
415 NE 15th St 3/2 + in law suite 1,415 sq ft $350,000
1332 NE 14th Ave 1/1 + 1/1 1,256 sq ft $199,000 (starting bid for online foreclosure auction, price will be bid up)

Off Market Fourplex in class A neighborhood. Strong comps to support pricing. Contact for details.

Price: $540,000 CASH or Hard Money ONLY, Inspections must be done prior to contract.

Est. Rehab: <$5k

Est. MKT. Rent $5,200/month

Current Rent $4,000/month

Layout: (2517 sqft, 6750 sqft lot )

Off Market multi-family available in Victoria Park, one of the most desirable neighborhoods in Fort Lauderdale. The property is CBS construction, features four true 1 bedroom units with 5 parking spaces and has private fenced patios for each unit. The property is rented under market rent to long term tenants as the owner has not raised rent in years. Each unit has new flooring and the roof was resurfaced and sealed last year. The property has been well maintained with little to no maintenance needed. Great opportunity to increase rents to market rent or renovate the units for higher end rentals. Price per door is far below any closed sales in the area.

Subject Property:
FOURPLEX (four 1/1)
2,517 sq ft
$135k/door
Market rent $1,250/unit

COMPS (closed sales)
1716 NE 7th St TRIPLEX (three 2/2) 2,761 sq ft $575,000 (25 DOM, $191k/door)
800 NE 16th Ter DUPLEX (two 1/1) 1,424 sq ft $430,000 (5 DOM, $215k/door)
644 NE 16 Ave TRIPLEX (two 1/1 + 2/2) 1,593 sq ft $490,000 (11 DOM, $163k/door)
823 NE 19th Ave TRIPLEX (three 1/1) 3,776 sq ft $460,000 (23 DOM, $153k/door)
808 NE 17th Ter TRIPLEX (2/1, 1/1 + studio) 1,754 sq ft $580,000 (142 DOM, $193k/door)

COMPS (active listings)
808-812 NE 18th Ave EIGHT UNITS (five 1/1, 2 studio, one 2/1) 5,189 sq ft $1,495,000 ($187k/door)
808 NE 17th Way DUPLEX (two 2/1) 1,900 sq ft $580,000 ($290k/door)
745 NE 17 Rd FOURPLEX (two 1/1, one studio + one 2/2) 1,963 sq ft $895,000 ($223k/door)

Rental Comps (closed rentals)
816 NE 18th Ave #3 1/1 $1,250/mo
822 NE 18TH AVE Unit #3 1/1 $1,250/mo
823 NE 18TH AVE Unit #2 1/1 $1,200/mo
825 NE 18TH AVE Unit #8 1/1 $1,250/mo

Price: $105,000 CASH or Hard Money ONLY

Est. Rehab: $10k-15k

Cap Rate Potential: 13%

Est. MKT. Rent $1700/month

Layout: 3 Bed, 2 Bath (1000 sqft, 5100 sqft lot )

Great opportunity for a rental property with huge income potential.

This home has new tile floor, new bathrooms, newer windows, new kitchen and Central AC. Last owner started doing a full renovation. Everything is new and home needs only some finishing updates, including sheet rock on the ceiling and light roof work. Amazing opportunity to step in and finish the job, giving you a fully renovated home for pennies on the dollar.
Would be an excellent rental property in a high demand area, with rental rates of $1600-$1700 a month, bringing in a 13%+ cap rate!

Rental Comps:
1731 NW 26th Ave - 3/2 825 sqft - $1,750/M
2790 NW 14th Ct - 3/2 1,075 sqft - $1,700/M
2731 NW 16th Ct - 3/2 1,200 sqft - $1,550/M
1229 NW 24th Ave - 3/2 953 sqft - $1500/M

Open permit - 17-01017
Possible open violation.

Price: $159,000 CASH or Hard Money ONLY, 0 inspection days, must be done before contract.

Est. Rehab: $10-$20k

ARV: $200k

Cap Rate Potential: 10%+

Est. MKT. Rent: $2000/month

Current Rent: $1000/month

Layout: (1056 sqft, 8495 sqft lot)

Fantastic off-market CBS Duplex sitting on a large corner lot in the heart of Miami, just west of Miami Shores

Two 1/1 units rented under market with month to month tenants. Market rent is $900-$1,000 yielding over 10% cap rate.

Separate FPL and Water. The FPL meters and electricity were just recently upgraded!

Sold Comps:
801 NW 105th St - Sold $190K
1090 NW 112th St - Sold $223K

Active:

1167 NW 112th St - $215K

Contact for details.

Price: $850,000 CASH or Hard Money ONLY

Cap Rate Potential: 10%

Est. MKT. Rent $8,800/month

Current Cap: 8%

Current Rent $7550/month

Layout: (6000 sqft, 14,400 sqft lot)

Amazing property consisting of 4 duplex structures, each one is 2/1 and a 2/1 1500 sq ft each, total of 8 units on 14,400 sq ft lot.. There are 8 water meters, 8 electrical meters; tenants pay water and electric. The property is located in East Boynton Beach on the corner of Martin Luther King Junior Blvd. and N Seacrest Blvd. few streets away from the new $118 Million Boynton Downtown - final approval announced on March 13, 2018. This project will bring up the property value tremendously. All 8 units are occupied, annual income is $90,600 current cap rate is 8%.

All 8 units are occupied with leases. Tenants pay water and electric. 

Price: $200,000 CASH or Hard Money ONLY

Est. Rehab: $20k-40k

ARV: $300k-$320k

Cap Rate Potential: 12-13%

Est. MKT. Rent $3,600/month

Current Rent $2400/month

Layout: 6 bed, 4 bath (1914 sqft, 5156 sqft lot)

Fantastic off Market Triplex in Pompano Beach, featuring 2(2/1) + 1 (2/2)
Property is CBS with 3 separate legal meters. Market rent is $1,200 per unit giving you $3,600 a month rental income.

2 units are rented collecting $1,200 each month. 3rd unit has fire damage and needs rehab.
Incredible flip opportunity or rental property with 12% - 13% CAP RATE after repairs.

Comps:

121 SW 15TH ST $299,000 - 1,890 Sq Ft Triplex – (1) 2/2 + (2) 1/1 – 12 days on Market – no updates

2130 NW 15th AVE $195,000 1,458 Sq. Ft Duplex – (2) 2/1 – 98k per door – 14 days on market