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Andrews 2520 N Andrews Ave 26 Unit Apartment Building $6,720,000 ($258,462/Unit) 5.07% Cap Rate Wilton Manors, FL 33311
INVESTMENT HIGHLIGHTS
- 5-Story Building Constructed in 1975 located at 26th Street & Andrews Avenue in Wilton Manors
- Units Average 1,039 Square Feet with Central A/C, Fenced-in Patios (First Floor) and Balconies
- Common Area Amenities Include Elevator, Tropical Pool, On-Site Laundry and Ample Parking
- Unit Mix: (1) Studio, (1) 1-Bedroom, (10) 2-Bedroom Townhomes and (14) 2-Bedroom Apartments
- Roof is a Concrete Deck and was Replaced by Seller in 2023, Parking Lot was done in 2025
- Walking Distance to Wilton Drive and Five Points with many Shops, Restaurants, Art Galleries
EXECUTIVE SUMMARY
RAM Andrews Apartments were constructed in 1975 of concrete block and painted stucco with a flat concrete roof. The property consists of (1) studio apartment, (1) one-bedroom/one-bathroom apartment, (1) two-bedroom/one-and-a-half-bathroom townhouse, (14) two-bedroom/two-bathroom apartments and (9) two-bedroom/two-bathroom townhome units. The studio and one-bedroom apartment were previously a two-bedroom/two-bathroom apartment and are non-conforming, as is unit 2520-A. The building spans 25,985 rentable square feet and is situated on a 31,239-square-foot lot, according to the Broward County Property Appraiser. Units feature small backyards or private balconies, central air conditioning, electric appliances and individual hot water heaters.
*The roof was replaced by current ownership in 2023.
*The roof was replaced by current ownership in 2023.
PROPERTY FACTS
| Price | $6,720,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $258,462 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.72 AC |
| Cap Rate | 5.07% | Building Size | 29,996 SF |
| Gross Rent Multiplier | 10.76 | Average Occupancy | 88% |
| No. Units | 26 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1975 |
| Property Subtype | Apartment | ||
| Zoning | RM-16 - Residental/Multfamily | ||
| Price | $6,720,000 |
| Price Per Unit | $258,462 |
| Sale Type | Investment |
| Cap Rate | 5.07% |
| Gross Rent Multiplier | 10.76 |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.72 AC |
| Building Size | 29,996 SF |
| Average Occupancy | 88% |
| No. Stories | 5 |
| Year Built | 1975 |
| Zoning | RM-16 - Residental/Multfamily |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Ceiling Fans
- Refrigerator
- Oven
- Range
- Walk-In Closets
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Security System
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | $900.00 | 300 |
| 1+1 | 1 | $1,450 | 645 |
| 2+1.5 | 1 | $1,875 | 780 |
| 2+2 | 23 | $1,935 | 1,053 - 1,058 |
Walk Score®
Very Walkable (83)
PROPERTY TAXES
| Parcel Number | 49-42-27-04-0550 | Improvements Assessment | $4,707,500 |
| Land Assessment | $249,910 | Total Assessment | $5,453,150 |
PROPERTY TAXES
Parcel Number
49-42-27-04-0550
Land Assessment
$249,910
Improvements Assessment
$4,707,500
Total Assessment
$5,453,150
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Andrews | 2520 N Andrews Ave
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