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Pembroke Rd Apartments 6124 Pembroke Rd 10 Unit Apartment Building $1,400,000 ($140,000/Unit) 6.74% Cap Rate Miramar, FL 33023
INVESTMENT HIGHLIGHTS
- 8-Unit Multifamily Property – Consists of 2 one-bedroom/one-bath apartments and 6 studio units
- Significant Value-Add Upside – 7 of 8 tenants on month-to-month leases allowing immediate rent growth or renovations
- Seller Financing Available – Attractive terms provide flexible acquisition options and enhanced returns
- Prime High-Traffic Location – Situated on Pembroke Road just off US-441 in a high-demand rental corridor
- Operational & Capital Improvements – Updated mini-split A/Cs, several renovated units, on-site coin laundry, and storage garage
EXECUTIVE SUMMARY
Exceptional value-add multifamily opportunity at 6124 Pembroke Road, Miramar, FL 33023. This 8-unit property includes two 1BD/1BA apartments and six studio units, offering a versatile mix in a high-demand rental corridor. Seven of the eight tenants are on month-to-month leases, allowing immediate upside through rent adjustments or renovations. The property produces $140,520 in current annual gross income, translating to an impressive near-7% going-in cap rate from day one—without raising rents. Ideally located on highly trafficked Pembroke Road, just off 441, the asset is extremely easy to rent and centrally positioned close to major highways and essentials. Additional highlights include updated mini-split A/Cs, several renovated interiors, an on-site coin laundry room, and a large garage for storage with potential to convert into a 9th unit. Seller financing is available with very attractive terms.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$150,600
|
$41.04
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$150,600
|
$41.04
|
| Taxes |
$25,200
|
$6.87
|
| Operating Expenses |
$23,000
|
$6.27
|
| Total Expenses |
$48,200
|
$13.13
|
| Net Operating Income |
$102,400
|
$27.90
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $150,600 |
| Annual Per SF | $41.04 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $150,600 |
| Annual Per SF | $41.04 |
| Taxes | |
|---|---|
| Annual | $25,200 |
| Annual Per SF | $6.87 |
| Operating Expenses | |
|---|---|
| Annual | $23,000 |
| Annual Per SF | $6.27 |
| Total Expenses | |
|---|---|
| Annual | $48,200 |
| Annual Per SF | $13.13 |
| Net Operating Income | |
|---|---|
| Annual | $102,400 |
| Annual Per SF | $27.90 |
PROPERTY FACTS
| Price | $1,400,000 | Apartment Style | Low-Rise |
| Price Per Unit | $140,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 6.74% | Building Size | 3,670 SF |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | ||
| Zoning | B-2 | ||
| Price | $1,400,000 |
| Price Per Unit | $140,000 |
| Sale Type | Investment |
| Cap Rate | 6.74% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 3,670 SF |
| No. Stories | 1 |
| Year Built | 1957 |
| Zoning | B-2 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 8 | $1,500 | - |
| 1+1 | 2 | $1,700 | - |
1 1
Walk Score®
Very Walkable (74)
PROPERTY TAXES
| Parcel Number | 51-41-24-16-0270 | Total Assessment | $840,670 |
| Land Assessment | $0 | Annual Taxes | $25,200 ($6.87/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
51-41-24-16-0270
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$840,670
Annual Taxes
$25,200 ($6.87/SF)
Tax Year
2025
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Pembroke Rd Apartments | 6124 Pembroke Rd
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