4340 Sea Grape Dr, Lauderdale By The Sea, FL 33308

Property Details

10 Units  I 8 Units 1Bedroom/1Bath I 2 Units 2 Bedrooms/2 Baths I Lot 12502 Sq Feet I 10 Meters I  Build in 1972

 

GREAT INVESTMENT OPPORTUNITY! 10 charming suites at Lauderdale Villas ,Just miniscule steps to the beautiful Atlantic Ocean and its shimmering waters and miles of pristine beaches, close to Commercial Boulevard with its dozens of restaurants, shops and galleries. How Far? Lauderdale Villas is only 20 minutes from the Ft. Lauderdale airport.  Feel like exploring? Visit Downtown Fort Lauderdale, Las Olas Blvd., Broward Center for the Performing Arts or the Riverwalk Arts and Entertainment Center.

 

 

REAL ESTATE TERMS AND CONDITIONS

REAL ESTATE DEPOSIT REQUIREMENTS: 

The total deposit to equal 10% of the Total Contract Price must be made to the escrow agent.

REAL ESTATE CLOSING:

Balance of the purchase price is due at closing which shall be on or before 45 days following the Auction.

REAL ESTATE CONDITIONS:

A 6% Buyer’s Premium will be added to the final bid and included in the contract price.  The property will be sold in “AS-IS” condition.  All information was derived from sources believed correct, but is not guaranteed.  All property dimensions are only approximations.  Buyers shall rely entirely on their own information, judgment and inspection of the property and records.  All announcements made from the Auction block will take precedence over any previously printed material or any other statements made.  The Auctioneer represents the Seller in this Real Estate transaction.  Seller shall provide a copy of prior Title Insurance Policy or a Title Insurance Commitment. Seller will deliver property at closing “free and clear of liens and encumbrances”. 

Buyer will pay all closing costs.

BROKER PARTICIPATION:

3%

Escrow Deposit               

10%- If you are the Wining Bidder, an Earnest Money Deposit of 10% of the total Purchase Price is required.

Financing Information       

Financing Available -GET PRE-APPROVED HERE.

 

Building

Type2 Star Low-Rise Apartments

Units10

Stories1

Year Built1969

ClassC

GBA5,138 SF

Typical Floor 5,138 SF

# of Buildings 2

Market Segment Vacation

Rent Type Market

Construction Reinforced Concrete

Parking13 Surface Spaces are available; 1.3 per Unit

Taxes $4,325.40/Unit (2017)

Opex $7,613.90/Unit (2017)

Total Expenses $11,939.30/Unit (2017)

Walk Score^®Very Walkable (73)

Transit Score^®Some Transit (32)

Land

Land Acres0.30 AC

Bldg FAR0.39

Land SF13,068 SF

ZoningRM-25, Lauderdale

Parcel49-43-18-05-0370

Amenities

Unit Amenities

• Air Conditioning
• Balcony
• Cable Ready
• Ceiling Fans
• High Speed Internet Access
• Kitchen
• Microwave
• Oven
• Range
• Refrigerator
• Tile Floors
• Views
• Wi-Fi
• Yard

Site Amenities

• Furnished Units Available
• Laundry Facilities
• Pool
• Tennis Court
• Walking/Biking Trails

Assessment

2016 Assessment

Improvements

Land

Total Value

 $1,648,800

 $250,920

 $1,899,720

 $164,880/Unit

 $25,092/Unit

 $189,972/Unit

 83% of last sale

Market Conditions

Current

YOY Change

Vacancy Rates

Submarket 1-3 Star

5.9%

1.7%

Market Overall

5.4%

0.5%

Asking Rents Per Unit

Submarket 1-3 Star

$1,161

1.7%

Market Overall

$1,402

4.7%

Concessions

Submarket 1-3 Star

0.6%

0.1%

Market Overall

0.9%

0.2%

Under Construction Units

Market Overall

8,697

18.5%

Submarket Sales Activity

Current

Prev Year

12 Mo. Sales Volume (Mil.)

$3.2

$3.0

12 Mo. Price Per Unit

$197,500

$185,343

 

Sale Contacts

Mirela Feliciano

Broker, CEO

(305) 456-4802 (p)

(786) 281-6472 (m)

This email address is being protected from spambots. You need JavaScript enabled to view it.

Miami Global Realty, Inc.

1680 NE 125th St

Miami, FL 33181

(305) 456-4802 (p)

(305) 456-4576 (f)

Income & Expenses

Revenue	2017	Per Unit
Gross Income	$265,186	$26,519
Other Income	-	-
Vacancy	-	-
Effective Gross Income	$265,186	$26,519
Expenses
Operating Expenses	$76,139	$7,614
Taxes	43,254	4,325
Total Expenses	$119,393	$11,939
Net Operating Income	$145,793	$14,579
Capital Expenditures	-	-
Debt Service	-	-
Cash Flow	$145,793	$14,579

Demographics

	1 Mi	3 Mi
Population	12,870	96,321
Households	7,296	48,045
Average Age	54.70	47.10
Median HH Income	$66,768	$59,287
Daytime Employees	7,614	68,346
Population Growth '17-'22	7.3%	7.1%
Household Growth '17-'22	6.7%	6.6%

Traffic

Collection Street	Cross Street	Traffic Vol	Year	Distance
Commercial Blvd	E Trade Winds Ave W	36,989	2015	0.10 mi
N Ocean Dr	Datura Ave S	19,521	2015	0.12 mi
N Ocean Dr	Datura Ave S	23,000	2009	0.12 mi
N Ocean Dr	el Prado Ave S	19,366	2015	0.18 mi
el Mar Dr	Hibiscus Ave S	1,960	2015	0.23 mi

Made with TrafficMetrix® Products.

 

 

 

See Auction Participation Terms and Property Documents attached for more information.

 

Documents

Income and Expenses << Click here
Home Disclosure Report << Click here