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430-440 NW 40th Ct Oakland Park, FL 33309
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Key Details
Sold Price $975,000
Property Type Multi-Family
Sub Type Income/Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID H10737830
Sold Date 01/31/20
HOA Y/N No
Total Fin. Sqft 14585
Year Built 1968
Annual Tax Amount $12,986
Lot Size 0.335 Acres
Property Description
Second Price Adjustgment created a competitively priced opportunity. The subject property contains 8 (2/1) apts and has a significant value add component. property consists of two fourplexes on a single lot. Rents are approximately 25% undervalued according to third-party evidence as illustrated in a rent survey. Each unit is approximately 800 ft.² with central A/C. The property supports a stabilized ROI of 11% based on list price with the taxes stepped up to reflect the asking price. Current PGI $97,440. Stabilized Gross Income $129,600**********Download the offer memorandum form the attachments in MLS**********
Location
State FL
County Broward County
Area Ft Ldale Nw(3390-3400;3460;3540-3560;3720;3810)
Interior
Heating Central Electric
Cooling Central Building A/C
Exterior
Water Access N
Roof Type Comp Shingle Roof
Private Pool No
Building
Story 1.0000
Foundation Concrete Block With Brick
Sewer Public Sanitation
Water Public Water
Others
Pets Allowed No
Ownership Corporation
Acceptable Financing Cash, Conventional/Refinance
Listing Terms Cash, Conventional/Refinance
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Bought with Mayfair Real Estate LLC
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Panagiotis Peter Sarantidis
Licensed Real Estate Sales Professional | License ID: 3332095