LIGHTHOUSE POINT AREA DUPLEX, EAST OF FEDERAL WITH 10%-15% INSTANT EQUITY
2060 NE 24th Ave
Pompano Beach, FL
Duplex east of Federal. Unit one is 2 bedrooms, 1 bath, central air, newer ac, newer appliances and is currently rented. Great tenant that maintains the lawn and grounds, paying below market rent $850.
Unit two is originally a 2 bedroom, 2 bath apartment. It was redesigned as a 1/1 and an efficiency. Easy to convert back to a 2/2.
Unit 2 has washer and drier inside the unit and there is also an additional utility with washer and drier for tenants.
Property is in really good shape, almost rent ready, living room in one unit needs flooring as it has broken tiles.
Next door building sold for $300k in May. The 1 Bedroom/ 1 bath unit rented for $1200 and the 2/1 unit is for rent asking $1400.
9.5% or better CAP RATE based on current rental market rates. Only light cosmetic work needed to make one unit rent ready and huge instant equity. This deal will not last.