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The Island Resort 1944 NE 5th St 5 Unit Apartment Building $2,100,000 ($420,000/Unit) 10% Cap Rate Deerfield Beach, FL 33441
INVESTMENT HIGHLIGHTS
- Just two blocks from the beach, The Island Resort is a top-rated property with hundreds of 5-star reviews.
- The property is a fourplex that rents as one home and four villas, each with full kitchens and bathrooms.
- It has operated as a short-term rental for three years and already has bookings for next season.
- Located in Ocean Vue, Broward County, it offers strong income, 8 parking spots, and future development potential.
EXECUTIVE SUMMARY
The Island Resort at Deerfield Beach is a resort style property with hundreds of 5 star reviews online. This property has been running as a short term rental property for the last three years. Only two blocks from the beach, this well established resort and amazing cash producing property is one of the most sought after spots for short stays in the area. It already has bookings for next season while still offering a lot of future opportunities for growth and increased income. Officially a fourplex, with a 2/2 that is split into a 1/1 with full kitchen and bathroom and a studio, also with full kitchen & bathroom, it rents as 1 single family home and 4 villas. The Island Resort offers many avenues for investment and future development in A+ prime location in gorgeous South East Florida.
PROPERTY FACTS
| Price | $2,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $420,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 10% | Building Size | 2,509 SF |
| No. Units | 5 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1947 |
| Property Subtype | Apartment | Parking Ratio | 3.14/1,000 SF |
| Zoning | RM-10 - Residential Multifamily | ||
| Price | $2,100,000 |
| Price Per Unit | $420,000 |
| Sale Type | Investment |
| Cap Rate | 10% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.23 AC |
| Building Size | 2,509 SF |
| No. Stories | 1 |
| Year Built | 1947 |
| Parking Ratio | 3.14/1,000 SF |
| Zoning | RM-10 - Residential Multifamily |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 5 | - | - |
Bike Score®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 48-43-05-02-1480 | Improvements Assessment | $960,180 |
| Land Assessment | $152,610 | Total Assessment | $1,112,790 |
PROPERTY TAXES
Parcel Number
48-43-05-02-1480
Land Assessment
$152,610
Improvements Assessment
$960,180
Total Assessment
$1,112,790
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The Island Resort | 1944 NE 5th St
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