Current Use by Public Records
- Apartment buildings
Property Details for 4321 19Th St
- Year built
- 1984
- Lot size
- 12.00 lot acres
- Property type
- Apartment buildings
Description
This exceptional multifamily investment opportunity presents 23 units within the Hidden Forest Condominiums in Lauderhill, Florida. Built in 1984, this complex comprises 27 two-story buildings situated on 12 acres, offering a total of 13,800 square feet of net rentable space. The property boasts a strong 95% occupancy rate, generating a current NOI of $205,308 and a pro-forma NOI of $233,716, translating to an 8.13% current cap rate and a 9.26% pro-forma cap rate. Each of the 23 units is a one-bedroom apartment, featuring a private patio or balcony, central heating and air conditioning, individual hot water heaters, and all-electric appliances including washer and dryer. Flooring consists of ceramic tile or faux wood vinyl. One reserved parking space is provided per unit, supplemented by ample guest parking. The property is zoned RM-25 and benefits from its location near major retail corridors along State Road 7, Sunrise Boulevard, and Oakland Park Boulevard, offering easy access to the Florida Turnpike, US-441, and Interstate 95. The asking price is $2,525,000, representing a price per unit of $109,783. The property's location within a thriving community of condominiums, rental communities, and single-family homes makes it an attractive investment prospect. The projected occupancy date is October 18, 2024.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lauderhill
- County
- Broward
- State
- Florida
- Longitude
- -80.207
- Latitude
- 26.1503
