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Posted: Monday, July 31, 2017 4:46 PM

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CORAL SPRINGS, FLORIDA $745,000


4 units, legal; 4145 sq f; built 1987y
Building in a very good shape.
4- 3bdrm/2bath apartments with leases:
1650
1595
1575
1450-the tenant has been there for 12 years

Total monthly: $6270

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5 meters. Each apartment has individual meter, tenants pay their FPL and one meter for property in general for lighting, laundry room, etc
The landlord has a contract with Advanced Cable and provides cable to tenants. The cost is approximately $300 per month, includes HBO and other Premier channels.
Units are in good shape and usually get renovated or freshened up at the time tenants are living. . One of the tenants is section 8. His rent will increase to $1625.
Closing no earlier than mid August.
The owner have invested in repairs and up keeping of the building as well as landscaping in order to comply with all new regulations.Building just passed City inspections.

Leases:
11630-$1650
11632-$1450
11634-$1595
11636-$1575
Total: $6270 or $75240 a year

Expenses:
Lawn care: $1200
FPL: approx. $800
Water: $5000
Trash is included with taxes
Cable: $3600
________________________________________
Total $10600
$64640.00
Taxes: $8196.37
NOI $ 56443.7

• Location: Florida, Florida Keys

• Post ID: 60902088 keys
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