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The Villas at 5th Street 707-715 SW 5th St 12 Unit Apartment Building $2,220,000 ($185,000/Unit) 6.08% Cap Rate Dania Beach, FL 33004
INVESTMENT HIGHLIGHTS
- 12-Units, All 2-Beds on 16,050 sf Lot in Dania Beach priced @ $185,000 Per Unit
- Value Add Opportunity with Average In-Place Rent of Only $1,694 Per Month
- Easy Access to Federal and Dixie Highways, Stirling Road and Interstate 95
- 1960 Single-Story CBS Construction, New Roofs in 2021, Most Units Renovated
- Interiors Renovated w/New Kitchens, Baths, Stainless Appliances, New Flooring
- 11.46% Population Growth Since 2010 and 510,000+ Residents Within 5 Miles
EXECUTIVE SUMMARY
The Villas at 5th Street consist of three (3) single-story buildings which were constructed in 1960 of concrete block and painted stucco with shingle roofs and the property is situated on 16,050 square feet of land, according to the Broward County Property Appraiser. The property is comprised of twelve (12) two-bedroom/one-bathroom apartments totaling 7,197 square feet. Nearly all units have been renovated by current ownership and feature either vinyl wood-plank or ceramic tile flooring, with new kitchens and bathrooms, stainless steel appliances and window/wall air conditioning units. There are 14 parking spaces.
The Villas at 5th Street are located west of Dixie Highway, south of Stirling Road and north of Sheridan Street, proximate to Interstate 95 and Federal Highway (US-1). Dania Beach is a thriving coastal community known for its mix of small-town charm and urban convenience, offering residents easy access to employment centers, beaches, and entertainment destinations.
The Villas at 5th Street are located west of Dixie Highway, south of Stirling Road and north of Sheridan Street, proximate to Interstate 95 and Federal Highway (US-1). Dania Beach is a thriving coastal community known for its mix of small-town charm and urban convenience, offering residents easy access to employment centers, beaches, and entertainment destinations.
PROPERTY FACTS
| Price | $2,220,000 | Building Class | C |
| Price Per Unit | $185,000 | Lot Size | 0.37 AC |
| Sale Type | Investment | Building Size | 8,756 SF |
| Cap Rate | 6.08% | No. Stories | 1 |
| Gross Rent Multiplier | 9 | Year Built | 1960 |
| No. Units | 12 | Parking Ratio | 1.59/1,000 SF |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | NBHD-RES | ||
| Price | $2,220,000 |
| Price Per Unit | $185,000 |
| Sale Type | Investment |
| Cap Rate | 6.08% |
| Gross Rent Multiplier | 9 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.37 AC |
| Building Size | 8,756 SF |
| No. Stories | 1 |
| Year Built | 1960 |
| Parking Ratio | 1.59/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | NBHD-RES |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 12 | - | 600 |
1 1
PROPERTY TAXES
| Parcel Number | 51-42-03-34-0960 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,877,640 |
PROPERTY TAXES
Parcel Number
51-42-03-34-0960
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,877,640
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The Villas at 5th Street | 707-715 SW 5th St
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