For Sale
$11,003,000

33 Allen RdWest Park, FL 33023

26 Units, 100% Occupancy, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a portfolio of 26 single-family rental homes in desirable Broward County, Florida. Boasting 100% occupancy and a substantial Net Operating Income (NOI) of $578,500, this Class B portfolio offers a compelling 5.26% cap rate on an asking price of $11,003,000. The properties, totaling 35,502 square feet, average a price per unit of $423,192.31 and a price per square foot of $309.93. Strategically located across multiple cities within Broward County, including West Park, Hollywood, Fort Lauderdale, Miramar, and Lauderhill, these properties are situated in areas with high demand for single-family rentals. The portfolio presents a significant value-add opportunity through renovations and upgrades, promising increased rental income and substantial returns. While market risks inherent in real estate investment exist, the potential for growth and strong current performance make this a highly attractive proposition for investors seeking a stable, yet growth-oriented investment in the Florida market. The properties are zoned for residential use. Financial projections indicate a strong potential for annual returns in the 10-12% range, driven by rental income, cash flow, and property appreciation. This portfolio offers a unique blend of immediate income and long-term growth potential.

Highlights

  • 26-unit single-family rental portfolio in desirable Broward County, FL.
  • 100% occupancy with a $578,500 Net Operating Income (NOI).
  • 5.26% cap rate on an asking price of $11,003,000.
  • Significant value-add opportunity through renovations and upgrades.
  • Projected 10-12% annual return.

Property Details for 33 Allen Rd

Property type
Residential income homes
Square Feet
35,502 SF
Class
B
Units
26

Location Insight

City
West Park
County
Broward
State
Florida
Latitude
25.98297176672
Longitude
-80.201644409139
33 Allen Rd, West Park, Florida

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
33 Allen Rd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message