1320 SW 26th St, Fort Lauderdale FL 33315,Fort Lauderdale,Broward County,Commercial Sale

$3,999,000

Overview

Income/MultiFamily
Property Type

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.

Address

Open on Google Maps

Address: 26th St
City: Fort Lauderdale
State/county: Broward County
Zip/Postal Code: 33315

Details

Updated on October 18, 2023 at 9:39 am

Price $3,999,000
Year Built 1946
Property Type Income/MultiFamily
Property Status Commercial Sale

Additional details

StreetDirPrefix SW
PublicSurveyRange 50
ListAgentKey d22b15ba13cea08e1681e06c011396fd
TaxLegalDescription DEVONSHIRE 22-29 B LOT 20 BLK 1
OnMarketDate 2023-02-16
ListAgentEmail John@deMarcogroup.net
ContractStatusChangeDate 2023-02-16
MajorChangeTimestamp 2023-02-16T21:28:59.017Z
PhotosCount 14
SubAgencyCompensation 2%
StatusChangeTimestamp 2023-02-16T21:28:59.017Z
PriceChangeTimestamp 2023-02-16T20:41:08.190Z
ListingKeyNumeric 378981742
MajorChangeType New
ListingContractDate 2023-02-16
ListAOR A-Miami Association of REALTORS
TaxAnnualAmount 6586
ListOfficeName RE/MAX 5 Star Realty
OriginatingSystemKey miamire
BusinessType Apartments
DualVariableCompensationYN no
PhotosChangeTimestamp 2023-02-16T21:32:15.885Z
OriginatingSystemName Miami Association of REALTORS®
ListOfficePhone 954-361-0000
MlsStatus Active
StreetNumber 1320
ListingKey 44b36999637b4c269de092ec6cb6b9ae
StateOrProvince FL
ListOfficeKey e1fcd57733fa179966a1b70145399144
BridgeModificationTimestamp 2023-10-17T14:01:17.900Z
ListAgentFullName John DeMarco
ListAgentOfficePhone 954-361-0000
ParcelNumber 504221110140
OtherExpense 0
IDXParticipationYN yes
InternetAddressDisplayYN yes
ListAgentMlsId 3134747
ModificationTimestamp 2023-10-17T14:00:14.047Z
OriginatingSystemID miamire
DaysOnMarket 243
BuyerAgencyCompensationType %
ListOfficeMlsId DBRG01
ListAgentDirectPhone 954-453-1000
StreetNumberNumeric 1320
PostalCodePlus4 2346
NumberOfUnitsInCommunity 0
ExpirationDate 2024-02-29
SyndicationRemarks 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.
ListAgentStateLicense 3134747
PublicSurveyTownship 50
ListOfficeFax 954-361-0070
ListingAgreement Exclusive Right To Sell
PublicSurveySection 21
ListingId A11344372
SpecialListingConditions Sale
OriginalListPrice 3999000
BuildingAreaUnits Square Feet
InternetEntireListingDisplayYN yes
BuyerAgencyCompensation 2%
InternetAutomatedValuationDisplayYN no
OriginalEntryTimestamp 2023-02-16T21:28:59.017Z
SourceSystemKey 378981742
LotSizeSquareFeet 9445
InternetConsumerCommentYN no
BuildingAreaTotal 5507