620 SW 7th St # 7, Pompano Beach FL 33060

About This Property

Amazing 7 Unit Multifamily Jewel Available! New Roof and New Impact Windows, 100% occupied with long term tenants since the owner purchased the building and updated. The unit mix consists of 3 - 2/1's , 3 - 1/1's and 1 large studio. Easy rent collection and Seller also easily self-manages the property. The Current Gross Income is $123,600. There is room to increase the rents and the Projected Gross Income will be $147,000. Annual Expenses are $29,463 which include Property Taxes:$19543, Water/Sewer:$3600, Insurance $5000, Lawn $720, Exterior Electric $600. Apartment electricity is metered separately and paid by Tenants. Current 6.5% cap, ProForma 8% cap. Seller has done all the hard work for the new Buyer! Collect Income right away with no work needed. Cash Cow!!

Property Details

Property Type

Income/MultiFamily

Status

Active

MLS #

A11914413

Building Area

4,716 SF

Lot Size

14,096 SF

Year Built

1973

Zoning

B-3

Net Operating Income

$94,137

Days on Market

147

Price

$1,450,000