3700 Northeast 21st Street, Lauderdale Lakes, FL 33311.
Asking Only: $659,900
- Bedrooms: 2 in one unit, 1 in the other unit.
- Bathrooms: 2 in one unit, 1 in the other unit.
- Build Type: CBS House
- Living Area Sq Ft.: 1,100
- Year Built: 1979
- Ideal Investment Strategy: Buy & Hold
* Terms of contract must be:
- 10% escrow deposit.
- 0 inspection period.
- Assignable contract, buyer must pay ALL closing cost.
- Must close with title company on original contract.
- Do NOT disturb occupants!!
* Info in this email is deemed reliable but is not guaranteed. Buyer should conduct their own due diligence to confirm any information listed above.
WHAT WE LOVE ABOUT THIS DEAL
Unique opportunity to purchase 9 units in SAME building Sunset Hills Condo in Lauderhill. Some Updated units w/updated kitchens including granite tops, and stainless steel appliances, and updated bathrooms. Units have Spacious floor plan, central A/C, & screened in Balconies.
SMART MONEY TIPS:
Some units need very light rehab under $6-8k in light updating, some don’t need any work at all. 2/2 Units currently rented for average over $1250 a month. 1/1 Rents average over $1050 a month. HOA for the 2/2’s is $409 a month + $113.59 in special assessments. HOA for the 1/1’s is $309.00 + 82.50 special assessment. Special assessment is only due for the next 3 years. Building is centrally located in between 1-95 & Turnpike easy access to both. Near Lauderhill Mall with many shopping options. Comps in same building for 2/2’s are up to $100k. Comps for 1/1 in same building up to $89k. Rental comps for 2/2 up to $1400 a month. Rental comps for 1/1 up to $1,150 a month. Over 9% Cap Rate potential.
LOCATION, PICTURES, COMPS
SMART MONEY INVESTOR TIP: The main reason to use other people’s money for real estate investing is because as a new investor your access to cash is limited. Finding private funding sources is a great way to build your portfolio and your own cash reserves for future investment opportunities. Watch Kevin Jimeno explain how this works.
MORE SMART-MONEY FACTS
- $950-1,300 MONTH PER UNIT RENTAL AVERAGE – A common rule a savvy real estate investor follows is to pay no more than 100X the monthly rent as the purchase price. LEARN MORE: Why Rental Average is important
- FINANCING – PRE-APPROVED – Approved at 70% of the AVR through Collective Lending Group, a direct lender for real estate investors. SMART MONEY TIP: Why use other people’s money
- GREAT POTENTIAL ARV – Knowing a property’s ARV helps fix and flip investors to work backward and determine how much you should be willing to offer for a property. LEARN MORE: Calculating the ARV of an investment
- NO RENTAL RESTRICTIONS – Some condo associations don’t let you rent a unit out for 1 year. This isn’t good if you’re trying to buy a condo as a rental cash. In this case, it’s ideal for rent and hold buyers because you can remodel and punt someone in ASAP.
- RELIABLE CBS CONSTRUCTION – In general, CBS (concrete block structure) homes are viewed as more desirable in the state of Florida because frame homes are more susceptible to termite damage and CBS homes are more able to handle the Florida storms.
READY TO MAKE AN OFFER?
CALL YOUR BROKER TODAY!
WE USE A FIRST-COME, FIRST-SERVE POLICY. THE FIRST REAL ESTATE INVESTOR TO SIGN A CONTRACT AND OFFER A DEPOSIT IS THE ONE TO SECURE THE PROPERTY. NO BIDDING PRICES HERE!
Disclaimer: House is being sold as-is, and buyer is to pay all closing costs. Buyer is not relying on any representations, whether written or oral, regarding the properties above. Price based on a cash or hard money offer and is net to seller. All offers on properties require a $3000 to $5000 non-refundable earnest deposit and have an average 7 day close of escrow. Buyers to do their own independent due diligence. Best Inv Group Inc, and its employees make no guarantees concerning property condition, value, characteristics or financial benefits. Best Inv Group Inc have a business relationship with various title agencies. Equal Opportunity Housing. One or more members, directors or employees of Best Inv Group Inc are licensed real estate agents in the state of Florida. There is no agency, expressed or implied, between Buyer and Best Inv Group Inc or any of its members, directors or employees.