1001 Pine Dr,Other, Quadruplex, Quadruplex, Fourplex, Ocean Drive Estates

1001 Pine Dr, Pompano Beach, Florida, 33060

Price $1,800,000.00

  • Lot size 6915
  • Year Build 1972
  • Waterfront
  • Zip 33060
  • Style Other
  • Parking Description
  • Pool Yes
  • Status Active

Description

Welcome to the perfect real estate investment property... This multifamily property operates as a licensed halfway house for Rehab patients, it serves between the initial medical rehab to going back to independent life to avoid relapse This property is rented entirely to one tenant who is responsible for most property Maintenance & Expenses with the exception of major property repairs, property insurance policy and property taxes. Tenant is on a 5 year lease with 2 more years left and is absolutely interested in staying for far longer than that. This property has 8 units all 2/1's, Making $132,000 yearly($11,000 per month) has $34,747 yearly expenses, and netting $97,253. The current Cap Rate is 5.4% The halfway house License is worth over $100,000 and it is attached to the property.

OCEAN DRIVE ESTATES 8-2 B LOT 10,11 BLK 6

Less Than 1/4 Acre Lot, 1/4 To Less Than 1/2 Acre Lot, Other Lot Description

Welcome to the perfect real estate investment property... This multifamily property operates as a licensed halfway house for Rehab patients, it serves between the initial medical rehab to going back to independent life to avoid relapse This property is rented entirely to one tenant who is responsible for most property Maintenance & Expenses with the exception of major property repairs, property insurance policy and property taxes. Tenant is on a 5 year lease with 2 more years left and is absolutely interested in staying for far longer than that. This property has 8 units all 2/1's, Making $132,000 yearly($11,000 per month) has $34,747 yearly expenses, and netting $97,253. The current Cap Rate is 5.4% The halfway house License is worth over $100,000 and it is attached to the property.

City:Pompano Beach,Zoning:RESIDENTIAL,Cooling:1:Electric,Heating:1:Electric,List A O R:A-Miami Association of REALTORS,Tax Year:2020,Latitude:26.2277175,Malone Id:2034726730,Cooling Y N:1,Heating Y N:1,List Price:1800000,Listing Id:A11036648,Longitude:-80.1129782,Mls Status:Active,Year Built:1972,Living Area:6915,Postal Code:33060,Street Name:Pine Dr,Coordinates:1:26.2277175,Lot Features:1:1/4 To Less Than 1/2 Acre Lot,2:Other Lot Description,Photos Count:15,Building Name:OCEAN DRIVE ESTATES,Days On Market:2,Listing Terms:1:Conventional,Lot Size Units:Square Feet,M L S Area Major:Ocean Drive Estates,On Market Date:2021-05-02,Parcel Number:494201030920,Parking Total:12,Property Type:Residential Income,Stories Total:2,Street Number:1001,M I A M I R E_ Style:Fourplex,Public Remarks:Welcome to the perfect real estate investment property... This multifamily property operates as a licensed halfway house for Rehab patients, it serves between the initial medical rehab to going back to independent life to avoid relapse This property is rented entirely to one tenant who is responsible for most property Maintenance & Expenses with the exception of major property repairs, property insurance policy and property taxes. Tenant is on a 5 year lease with 2 more years left and is absolutely interested in staying for far longer than that. This property has 8 units all 2/1's, Making $132,000 yearly($11,000 per month) has $34,747 yearly expenses, and netting $97,253. The current Cap Rate is 5.4% The halfway house License is worth over $100,000 and it is attached to the property.,Structure Type:1:Fourplex,County Or Parish:Broward County,Expiration Date:2021-12-31,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:7430,Property Sub Type:Quadruplex,State Or Province:FL,Subdivision Name:OCEAN DRIVE ESTATES,Tax Annual Amount:22491,Total Actual Rent:132000,Unparsed Address:1001 Pine Dr, Pompano Beach FL 33060,Listing Agreement:Exclusive Right To Sell,Operating Expense:34747,Year Built Details:Resale,Building Area Total:6915,Building Area Units:Square Feet,Lot Size Square Feet:6915,M I A M I R E_ L P Amt Sq Ft:260.3037,Original List Price:1800000,Public Survey Range:49,Documents Available:1:Other Available Information,I D X Participation Y N:1,Net Operating Income:97253,Number Of Units Total:8,Syndication Remarks:Welcome to the perfect real estate investment property... This multifamily property operates as a licensed halfway house for Rehab patients, it serves between the initial medical rehab to going back to independent life to avoid relapse This property is rented entirely to one tenant who is responsible for most property Maintenance & Expenses with the exception of major property repairs, property insurance policy and property taxes. Tenant is on a 5 year lease with 2 more years left and is absolutely interested in staying for far longer than that. This property has 8 units all 2/1's, Making $132,000 yearly($11,000 per month) has $34,747 yearly expenses, and netting $97,253. The current Cap Rate is 5.4% The halfway house License is worth over $100,000 and it is attached to the property.,Listing Contract Date:2021-05-02,Originating System I D:miamire,Showing Instructions:Call Listing Agent,Street Number Numeric:1001,Tax Legal Description:OCEAN DRIVE ESTATES 8-2 B LOT 10,11 BLK 6,Public Survey Township:49,Originating System Name:Miami Association of REALTORS?,Sub Agency Compensation:3.0%,M I A M I R E_ Adjusted Area S F:6915,Contract Status Change Date:2021-05-02,Internet Address Display Y N:1,Number Of Units In Community:4,Internet Consumer Comment Y N:1,Transaction Broker Compensation:3.0%,Internet Entire Listing Display Y N:1,Transaction Broker Compensation Type:%,M I A M I R E_ R A T I O_ Current Price_ By_ S Q F T:260.3,Internet Automated Valuation Display Y N:1,

  • Price $1,800,000.00
  • Price Change: 2021-05-03
  • Lot size sq. ft.
  • Price per sq.ft.
  • Year Build 1972
  • Waterfront
  • View
  • Pool Yes
  • Style Other
  • Construction CBS Construction
  • Parking Description
  • Flooring Type Other
  • Property Type Residential Income
  • Status Active
  • Listed 2021-05-03
  • Days on Market 3
  • Furnished
  • City Pompano Beach
  • Zip 33060
  • State Florida
  • Subdivision OCEAN DRIVE ESTATES
  • Development Name OCEAN DRIVE ESTATES, Ocean Drive Estates
  • HOA Fees
  • Taxes 22491
  • Taxes Year 2020