$1,750,000
$1,800,000
2.8%For more information regarding the value of a property, please contact us for a free consultation.
1001 Pine Dr #1-8 Pompano Beach, FL 33060
6,915 SqFt
Key Details
Sold Price $1,750,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,915 sqft
Price per Sqft $253
MLS Listing ID A11036465
Sold Date 06/08/21
HOA Y/N No
Year Built 1972
Annual Tax Amount $22,491
Tax Year 2020
Contingent No Contingencies
Lot Size 10,724 Sqft
Acres 0.2462
Property Sub-Type Multi Family
Property Description
Welcome to the perfect real estate investment property... This property is rented entirely to one tenant who is responsible for most property Maintenance & Expenses with the exception of major property repairs, property insurance policy and property taxes.
Tenant has a halfway house business for Rehab patients, (NOT INCLUDED) It serves between the initial medical rehab and going back to independent life to avoid relapse.
Tenant is on a 5-year lease with 2 more years left and is absolutely interested in staying for far longer than that.
This property has 8 units all 2/1's, Making $132,000 Yearly ($11,000 per month) has $34,747 Yearly Expenses, and Netting $97,253.
The current Cap Rate is 5.4%
The halfway house License is worth over $100,000 and it is attached to the property
Location
State FL
County Broward County
Area 3341
Interior
Heating Central
Cooling Central Air
Flooring Other
Exterior
Roof Type Tile
Private Pool Yes
Building
Sewer Public Sewer
Water Public
Structure Type Block
Others
Tax ID 494201030920
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash
Read Less
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Galleria International Realty