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Great Villa in the Heart of Pembroke Pines



$154,900

SOLD

1501 NW 94th Ave

Pembroke Pines, FL

  • Great 2/2 villa in the heart of Pembroke Pines. Can be converted in a 3/2.
  • Older kitchen, bathrooms good. Old Spanish tile, has porch that has a view of a nice lake.
  • This is currently being rented under market value with a section 8 tenant. Total monthly is $1235 and section 8 pays approximately $750. Definitely need to raise rent.
  • Hoa & Section allow the new buyer to inherit the tenants. No restrictions that we are aware of.
  • Rental Comps http://matrix.southfloridamls.com/DE.asp?k=1071744XC04N&p=DE-5823329-712
  • Raise to $1500 a month. Taxes of $3000 a year. Purchase Price $159900.
  • 30% in expenses your looking at a CAP RATE of: 7.8% WITHOUT DOING ANYTHING TO PROPERTY!! (Gross Rent) $18,000 - $5400 (expenses) = $12,600 (net NOI) / $159900 = 7.8%
  • OTHER OPTION IS TO FLIP. I would recommend converting into a 3/2 and sell over 200k!
  • SALES COMPS: http://matrix.southfloridamls.com/DE.asp?k=1071744XC04N&p=DE-5824344-165

Documents

 
No Documents for this Property


  • Sale Comps $185K - $215K
  • Rental Comps $1,700 - $1,900
  • Property Type Residential
  • Location Pembroke Pines, FL
  • Size 1080 sq. ft.
  • Bedrooms 2
  • Bathrooms 2
  • TAV 122.6K
  • Annual Taxes $1,994
  • Year Built 1980

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