720 Harris Terrace, Fort Lauderdale, FL 33311, USA Available

  • $505,000
  • 10,877 sqft

8 UNITS 3 FOLIOS ALL CONNECTED. TOTAL OF 10, 877 SQ FT ZONED RM-10 All tenants are paid up to date and no one has section 8 or any other voucher programs. See below the most recent and accurate rent roll and expenses on the property. Current rent roll: Unit 1 – 725 Unit 2 – 700 Unit 3 – 700 Unit 4 – 725 Unit 5 – 950 Unit 6 – 825 Unit 7 – Vacant Unit 8 – 700 Total GOI – $63,900 Expenses: Cable / WIFI – 280 Trash – 87 FPL – 500 Water – 200 Taxes – 11,000 Insurance (Estimate) – 4,000 GOE – 27,804 NOI – $36,096 Cap @ 7.2% Plus value in separating FPL meters (contractor quote for 30k also includes hurricane impact windows), renting unit 7, and reducing cable bill to just wifi. Expenses would be reduced to 19,404, the income would increase to 72,600, and NOI at 53,196 Pro Forma cap 10.6%

Price:
$505,000
Address:
720 Harris Terrace
Fort Lauderdale, FL 33311
Square Feet:
10,877
Terms:
Assignment of Contract
Property Type:
Commercial
Year Built:
1966
Const. Type:
CBS

Additional Features

THIS PROPERTY IS AN OFF MARKET MULTIFAMILY!

Call (954) 998-3366 for more details

Property Location