multifamily opportunity - loopnet...fort lauderdale, fl multifamily opportunity 608 sw 16th ave,...

F O R T L A U D E R D A L E , F L

MULTIFAMILY OPPORTUNITY

608 SW 16TH AVE, FORT LAUDERDALE, FL 33312 808 NW 19TH STREET, FORT LAUDERDALE, FL 33311

EXECUTIVE SUMMARY

TR IPLE Net (NNN)8.00% Net Cap

$ 2 , 2 6 2 , 7 5 0 . 0 0The two folio are sold as a lot it can not be sold separately

2 properties located in Fort Lauderdale, both leased with an absolute NNN and the same terms to a very strong tenant: A Nationwide Drug Rehabilitation Company.

Property Summary

First Property Address: 608 SW 16th ave, Fort Lauderdale, FL 33312

“608 SW 16th ave“ is a multi-family in Fort Lauderdale. This gated 4 unit building was completely gutted and renovated (in-cluding impact windows) in 2016, each unit is a 3 beds / 2 bath with an average of 1,200 sqft on 4,855 sqft total under air and sits near the Riverside Park neighborhood in Fort Lauderdale.

UNITS 4

YEAR BUILT 1970

GROSS LEASABLE AREA (GLA) 4,855 SQ.FT

LOT SIZE 7,000 SQ.FT

EXECUTIVE SUMMARY | MULTIFAMILY OPPORTUNITY , FORT LAUDERDALE, FL | www.kakonbrothers.com | [email protected] | phone: 786-210-99712

Property Summary

Second Property Address: 808 NW 19th street, Fort Lauderdale, FL 33311

“808 NW 19th street“ is a multi-family in Fort Lauderdale. It is a fully renovated 8 studios building (each studio has it’s own bathroom and kitchen) + a front house with 2 beds/2 bath. With an average of 6,252 sqft total under air.

UNITS 10

YEAR BUILT 1970


LOT SIZE 9,466 SQ. FT


First Property lease summaryAddress: 608 SW 16th ave, Fort Lauderdale, FL 33312

PRICE $1,092,300.00

CAP RATE 8%

NOI $87,384.00


PRICE / RENTABLE SQ.FT / MONTH $1.49


YEAR BUILT 1970

RENT ROLL ANNUAL RENT MONTHLY RENT CAP RATE

$181,020.00 $181,020.00 $15,085.00 8%

ANNUALIZED DATA

Second Property lease summaryAddress: 808 NW 19th street, Fort Lauderdale, FL 33311

PRICE $1,170,450.00

CAP RATE 8%

NOI $93,636.00


PRICE / RENTABLE SQ.FT / MONTH $1.24


YEAR BUILT 1970

LEASE TYPE ROOF AND STRUCTURE

LEASE GUARANTOR

ORIGINAL LEASE TERM ANNUAL INCREASE RENT COMMENCEMENT

DATELEASE EXPIRATION DATE

REMAINING LEASE TERM

Triple Net Lease / Residential

Tenant Responsible

Tenants / Company 5 Years 2% September 1st 2017 August 2022 3 Years

LEASE HIGHLIGHTS


Investment Highlights

• All the units are fully furnished• 100% Occupied• The tenant is responsible for maintenance (manager on site daily)• Landscape including Roof structure, • Foundation, load bearing walls, • Downpouts & gutters, common areas, ceiling doors, roof + ceiling leaks• Insurance and RE taxes for both properties

Renovation Includes• New Electrical

• New Floors

• New AC

• New Kitchens

• New Bathrooms

• News Doors


PHOTO GALLERY All units come with updated interiors including all

stainless steel appliances, granite countertops and

modern cabinetry.

All units are bright and sunny and feature

modern tile flooring throughout.


PHOTO GALLERY 608 SW 16TH AVE, FORT L AUDERDALE, FL 33312


PHOTO GALLERY 808 NW 19TH STREET, FORT L AUDERDALE, FL 33311


Location Overview ATLANTIC

OCEAN


www.kakonbrothers.com

[email protected]

786-210-9971

multifamily opportunity - loopnet...fort lauderdale, fl multifamily opportunity 608 sw 16th ave,...

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