1320 26th St ,Apartments for Sale

1320 26th St for Sale

Price $3,999,000.00

• Lot size 9445
• Year Build 1946
• Waterfront
• Zip 33315
• Style
• Parking Description
• Pool Yes
• Status Active

Description

The physical property consists of two buildings total of 5,507 SF, well situated on a large 15,565 SF lot. The property has 16 rooms with a total of 35 beds. The facility is fully licensed and operating and is currently 100% occupied with 35 residents with a waiting list. Experienced staff will remain after closing. The facility generated $781,630 in gross revenue in 2022, and net $350,461 a year. Projected gross revenue for 2023 is expected to go up to $940,830 with net income raising to $513,505. This income provides a strong 12.8% capitalization rate at a full asking price. This is an excellent investment opportunity in a market with very limited inventory.

Please remember not to disturb existing businesses, staff, or residents. All showings are by appointment only; call for additional information.

DEVONSHIRE 22-29 B LOT 20 BLK 1

The physical property consists of two buildings total of 5,507 SF, well situated on a large 15,565 SF lot. The property has 16 rooms with a total of 35 beds. The facility is fully licensed and operating and is currently 100% occupied with 35 residents with a waiting list. Experienced staff will remain after closing. The facility generated $781,630 in gross revenue in 2022, and net $350,461 a year. Projected gross revenue for 2023 is expected to go up to $940,830 with net income raising to $513,505. This income provides a strong 12.8% capitalization rate at a full asking price. This is an excellent investment opportunity in a market with very limited inventory.

City:Fort Lauderdale,Zoning:B-2,List A O R:A-Miami Association of REALTORS,Latitude:26.0904787,List Price:3999000,Listing Id:A11344372,Longitude:-80.1585925,Mls Status:Active,Year Built:1946,Postal Code:33315,Street Name:26th St,Coordinates:1:26.0904787,Photos Count:14,Days On Market:582,Lot Size Units:Square Feet,M I A M I R E_ Area:3490,On Market Date:2023-02-16,Parcel Number:504221110140,Property Type:Commercial Sale,Street Number:1320,Public Remarks:The physical property consists of two buildings total of 5,507 SF, well situated on a large 15,565 SF lot. The property has 16 rooms with a total of 35 beds. The facility is fully licensed and operating and is currently 100% occupied with 35 residents with a waiting list. Experienced staff will remain after closing. The facility generated $781,630 in gross revenue in 2022, and net $350,461 a year. Projected gross revenue for 2023 is expected to go up to $940,830 with net income raising to $513,505. This income provides a strong 12.8% capitalization rate at a full asking price. This is an excellent investment opportunity in a market with very limited inventory.,County Or Parish:Broward County,List Office Name:RE/MAX 5 Star Realty,Private Remarks:Please remember not to disturb existing businesses, staff, or residents. All showings are by appointment only; call for additional information.,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:2346,Property Sub Type:Income/MultiFamily,State Or Province:FL,Street Dir Prefix:SW,Tax Annual Amount:6586,Unparsed Address:1320 SW 26th St, Fort Lauderdale FL 33315,Listing Agreement:Exclusive Right To Sell,Building Area Total:5507,Building Area Units:Square Feet,Lot Size Square Feet:9445,Original List Price:3999000,Public Survey Range:50,I D X Participation Y N:1,Syndication Remarks:The physical property consists of two buildings total of 5,507 SF, well situated on a large 15,565 SF lot. The property has 16 rooms with a total of 35 beds. The facility is fully licensed and operating and is currently 100% occupied with 35 residents with a waiting list. Experienced staff will remain after closing. The facility generated $781,630 in gross revenue in 2022, and net $350,461 a year. Projected gross revenue for 2023 is expected to go up to $940,830 with net income raising to $513,505. This income provides a strong 12.8% capitalization rate at a full asking price. This is an excellent investment opportunity in a market with very limited inventory.,Listing Contract Date:2023-02-16,Originating System I D:miamire,Public Survey Section:21,Street Number Numeric:1320,Tax Legal Description:DEVONSHIRE 22-29 B LOT 20 BLK 1,Public Survey Township:50,Originating System Name:Miami Association of REALTORS?,M I A M I R E_ Internet Remarks:The physical property consists of two buildings total of 5,507 SF, well situated on a large 15,565 SF lot. The property has 16 rooms with 35 beds.,Contract Status Change Date:2023-02-16,Internet Address Display Y N:1,Internet Entire Listing Display Y N:1,