Great rental property or flip. Minutes from Las Olas.
3/1 in front and 1/1 in back. No work needed. This one is for the investor who is comfortable mitigating city liens.
All violations have been rectified but the lien remains at 590K. We have spoke to city and they seem to be very reasonable to work with an investor. Were told they would like to cover there admin fees. 3/1’s in area sell for up to 260K without the guest house in rear. Potential rents are 1700 and 800 per month.
If liens can be reduced to 20K you would have a 13% cap rate and 60K+ equity in the property. Must be able to close quickly. Buyer pays buyer and sellers closing costs. Vacant easy to show.