Description
Rare opportunity to build 26 unit apartment complex in Miramar right off 441 and Miramar Pkwy. Hot rental area. Opportunity zone. Huge tax benefits. Seller had preliminary meeting with city: included plans for 26 unit building are in accordance with current zoning. Permits have not been pulled. Use these plans, customize them, or design your own. Active comps in Broward:$58k-$138k per unit for land. Recently sold comps in Broward:$50k-$59k per unit for land. Subject property is under $30k per unit; over 40% OFF the low end of market value. New 1 bed apts in Broward County rent:$2.1k-$4k. See pics. Potential for over 15% cap rate conservatively (depending on building cost). Large duplex on the property currently rented: cashflow while pulling pemits, etc. Seller will finance.
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0BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
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2,600SQFT
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$300$/SQFT
School Ratings & Info
Description
Rare opportunity to build 26 unit apartment complex in Miramar right off 441 and Miramar Pkwy. Hot rental area. Opportunity zone. Huge tax benefits. Seller had preliminary meeting with city: included plans for 26 unit building are in accordance with current zoning. Permits have not been pulled. Use these plans, customize them, or design your own. Active comps in Broward:$58k-$138k per unit for land. Recently sold comps in Broward:$50k-$59k per unit for land. Subject property is under $30k per unit; over 40% OFF the low end of market value. New 1 bed apts in Broward County rent:$2.1k-$4k. See pics. Potential for over 15% cap rate conservatively (depending on building cost). Large duplex on the property currently rented: cashflow while pulling pemits, etc. Seller will finance.
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