1001 Pine Dr, Pompano Beach, FL 33060
- $1,750,000
- 6,915
- SqFt
-
- Sold Price
- $1,750,000
- List Price
- $1,800,000
- Closing Date
- Jun 08, 2021
- MLS
- A11036648
- Complex Name
- Ocean Drive Estates
- Status
- CLOSED SALE
- Type
- Multifamily
- Living Area
- 6,915
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
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Additional Information
-
- Days on Market
- 8
- Style
- Quadruplex, Fourplex
- Lot Size
- 6,915
- #Parking Spaces
- 12
- Year Built
- 1972
- Development Name
- Ocean Drive Estates
- #Stories
- 2
- Construction Type
- CBS Construction
Mortgage Calculator
Listing courtesy of Galleria International Realty. Selling Office: Galleria International Realty.