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2131 NE 40th Ct 8 Unit Apartment Building $2,000,000 ($250,000/Unit) 5.57% Cap Rate Lighthouse Point, FL 33064
INVESTMENT HIGHLIGHTS
- 8 Updated Units East Of Us-1
- Located Minutes To Sandy Beaches And Vibrant Shopping
- All Units Are Large Updated 1 Bed 1 Bath, With Living & Dining Rooms
- Perfect For Possible Air Bnb Or Vacation Rentals
EXECUTIVE SUMMARY
WOW!!! HUGE PRICE REDUCTION!!! SELLER SAYS SELL NOW!!! CURRENT GROSS INCOME $161,208 POTENTIAL GROSS $175-200+++ Fantastic Find In The Heart Of Lighthouse Point, 8 Updated Units East Of Us-1. Surrounded By Multi-Million Dollar Residential Properties. All Units Are Large Updated 1 Bed 1 Bath, With Living & Dining Rooms. Located Minutes To Sandy Beaches And Vibrant Shopping, This Is The Money Maker You've Been Waiting For, Location! Location! Location! Perfect For Possible Air Bnb Or Vacation Rentals. All Units Have Central A/C, Hurricane Impact Windows, Doors And Updated Electric. Designated Storage For Each Tenant & Coin Laundry. Roof Is Roughly Around 14 Years. Most A/C Units Were Replaced In The Last 5-6 Years. This Property Is Turnkey And Ready To Go! See Attachment And Or Call Listing Broker For More Details. Also Call Listing Agent For A List Of Other Multi-Family Properties For Sale.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$162,000
|
$24.87
|
| Other Income |
$2,500
|
$0.38
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$164,500
|
$25.25
|
| Taxes |
$39,113
|
$6.00
|
| Operating Expenses |
$11,522
|
$1.77
|
| Total Expenses |
$50,635
|
$7.77
|
| Net Operating Income |
$113,865
|
$17.48
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $162,000 |
| Annual Per SF | $24.87 |
| Other Income | |
|---|---|
| Annual | $2,500 |
| Annual Per SF | $0.38 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $164,500 |
| Annual Per SF | $25.25 |
| Taxes | |
|---|---|
| Annual | $39,113 |
| Annual Per SF | $6.00 |
| Operating Expenses | |
|---|---|
| Annual | $11,522 |
| Annual Per SF | $1.77 |
| Total Expenses | |
|---|---|
| Annual | $50,635 |
| Annual Per SF | $7.77 |
| Net Operating Income | |
|---|---|
| Annual | $113,865 |
| Annual Per SF | $17.48 |
PROPERTY FACTS
| Price | $2,000,000 | Building Class | C |
| Price Per Unit | $250,000 | Lot Size | 0.21 AC |
| Sale Type | Investment | Building Size | 6,515 SF |
| Cap Rate | 5.57% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 1.45/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM-25 - Multi-family 5 - 9 units | ||
| Price | $2,000,000 |
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| Cap Rate | 5.57% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 6,515 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 1.45/1,000 SF |
| Zoning | RM-25 - Multi-family 5 - 9 units |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Storage Space
- Kitchen
- Refrigerator
- Double Pane Windows
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Storage Space
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $13,364 | - |
1 1
Walk Score®
Very Walkable (73)
PROPERTY TAXES
| Parcel Number | 48-43-17-03-0460 | Total Assessment | $1,829,170 |
| Land Assessment | $108,000 | Annual Taxes | $39,113 ($6.00/SF) |
| Improvements Assessment | $1,721,170 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
48-43-17-03-0460
Land Assessment
$108,000
Improvements Assessment
$1,721,170
Total Assessment
$1,829,170
Annual Taxes
$39,113 ($6.00/SF)
Tax Year
2025
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2131 NE 40th Ct
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