This property has ten 1 bed/ 1 bath and two studios. It is located in front of a school and in a main street for easy visibility.All units are rented with good tenants that would like to stay. This is a turn-key opportunity with management in place if you’d like to keep it. Each tenant pays FPL and water. Value add opportunity because 1/1s on Section 8 for 2019 are renting for $1,147 and Studios for $951. Click the link for the videos to see how good of a shape the units are in. If you take into consideration that most properties in South Florida are selling for OVER $100k/unit then you understand the opportunity here. Lastly, since this property is in an Opportunity Zone it means if you keep it long term and follow the rules for opportunity zones then you might be able to make TAX FREE gains when you resell.
Potential Gross Rent: $13,372/month or $160,464/Year
Annual Expenses: 1) Light and Common Areas: $840 2)Waste: $4,560 3)Cleaning/Landscaping : $3,000 4)RE Taxes: $11,490