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$ 3,999,000
Est. payment | /mo
5,507 SqFt
$ 3,999,000
Est. payment | /mo
5,507 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,507 sqft
Price per Sqft $726
MLS Listing ID A11344372
HOA Y/N No
Year Built 1946
Annual Tax Amount $6,586
Lot Size 9,445 Sqft
Property Description
The physical property consists of two buildings total of 5,507 SF, well situated on a large 15,565 SF lot. The property has 16 rooms with a total of 35 beds. The facility is fully licensed and operating and is currently 100% occupied with 35 residents with a waiting list. Experienced staff will remain after closing. The facility generated $781,630 in gross revenue in 2022, and net $350,461 a year. Projected gross revenue for 2023 is expected to go up to $940,830 with net income raising to $513,505. This income provides a strong 12.8% capitalization rate at a full asking price. This is an excellent investment opportunity in a market with very limited inventory.
Location
State FL
County Broward
Area 3490
Others
Tax ID 504221110140
Listed by RE/MAX 5 Star Realty
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