8061 Southgate Blvd North Lauderdale, FL 33068
- Apartment buildings
Current Use by Public Records
- Apartment buildings
Property Details for 8061 Southgate Blvd
- Year built
- 1988
- Property type
- Apartment buildings
- Property subtype
- Small apartment buildings
Description
This exceptional investment opportunity presents a portfolio of four 2-bedroom, 2-bathroom condo units situated within the Royale Gardens community in North Lauderdale, Florida. Each unit, while officially a 2/2, is utilized as a 3/2 due to association allowances, maximizing rental income. The property boasts a strong financial performance, generating a Net Operating Income (NOI) of $68,304 annually and a gross rent roll of $109,560 per year, resulting in a 6.75% return on investment. Built in 1988, this two-story building features a total of four units, all conveniently located within the same community association, Royale Gardens, which comprises 144 units. The low monthly condo association fee of $355 includes reserves, simplifying management and reducing operational costs. The roofs were recently replaced in 2022, minimizing future maintenance expenses. The association is investor-friendly, allowing immediate renting, and the seller is open to splitting the sale to accommodate various buyer budgets, as each condo has its own separate folio. This turnkey investment offers a compelling opportunity for passive income generation with minimal management overhead. Located at 8061 Southgate Boulevard, North Lauderdale, FL 33068, this property is ideally positioned for strong rental demand. The asking price for this entire portfolio is $999,990.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- North Lauderdale
- County
- Broward
- State
- Florida
- Longitude
- -80.2356
- Latitude
- 26.2291
