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620 7th Street
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PRICED AT ONLY: $1,450,000

Address: 620 7th Street, Pompano Beach, FL 33060

Description

Amazing 7 Unit Multifamily Jewel Available! New Roof and New Impact Windows, 100% occupied with long term tenants since the owner purchased the building and updated. The unit mix consists of 3 2/1's , 3 1/1's and 1 large studio. Easy rent collection and Seller also easily self manages the property. The Current Gross Income is $123,600. There is room to increase the rents and the Projected Gross Income will be $147,000. Annual Expenses are $29,463 which include Property Taxes:$19543, Water/Sewer:$3600, Insurance $5000, Lawn $720, Exterior Electric $600. Apartment electricity is metered separately and paid by Tenants. Current 6.5% cap, ProForma 8% cap. Seller has done all the hard work for the new Buyer! Collect Income right away with no work needed. Cash Cow!!

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  • MLS#: F10521604 ( Residential Income )
  • Street Address: 620 7th Street
  • Viewed: 17
  • Price: $1,450,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1973
  • Bldg sqft: 0
  • Days On Market: 167

Description

Amazing 7 Unit Multifamily Jewel Available! New Roof and New Impact Windows, 100% occupied with long term tenants since the owner purchased the building and updated. The unit mix consists of 3 2/1's , 3 1/1's and 1 large studio. Easy rent collection and Seller also easily self manages the property. The Current Gross Income is $123,600. There is room to increase the rents and the Projected Gross Income will be $147,000. Annual Expenses are $29,463 which include Property Taxes:$19543, Water/Sewer:$3600, Insurance $5000, Lawn $720, Exterior Electric $600. Apartment electricity is metered separately and paid by Tenants. Current 6.5% cap, ProForma 8% cap. Seller has done all the hard work for the new Buyer! Collect Income right away with no work needed. Cash Cow!!
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Features
Building and Construction
  • Exterior Features: Balcony
  • Flooring: Ceramic Tile, Tile
  • Roof: Concrete
Utilities
  • Cooling: Other
  • Heating: Separate Meters, Other
  • Sewer: Public Sewer
  • Utilities: Cable Available
Finance and Tax Information
  • Home Owners Association Fee Includes: Hot Water, Sewer, Trash, Water
  • Tax Year: 2024
Other Features
  • Legal Description: FAIRVIEW AMENDED PLAT 10-25 B LOT 12, 13 BLK 15, TOG WITH POR OF ALLEY VACATED PER OR 4703/835
  • Parcel Number: 494202031150
  • Views: 17
  • Zoning Code: B-3
Nearby Subdivisions
Amended Of Sumters Add   American Townsites Co Sub No 1   Avondale 6-29 B   Blanche Ely   Boulevard Park Isles Sec   Brentwood Park 18-11 B   Campbell & Saxon Add 1-12   Center Court Condo   Crestview   Cypress Cove 43-24 B   Cypress Harbor   Cypress Harbor 1st Sec   Cypress Harbor 2nd Sec   Cypress Harbor 4th Sec   Cypress Harbor 4th Sec 50   Cypress Harbor 5th Sec   Cypress Harbor 5th Sec 50   Cypress Isles Estates First Ad   Cypress Isles Estates/cypress    Cypress Lake Estates   Cypress Lake Estates 52-3   Cypress Lake Sec 2 43-47   East Haven 21-39 B   Eco 201   Fairview Amd 10-25 B   Garden Isles   Garden Isles Sec 2   Garden Isles Sec 2 49-6 B   Garden Isles Sec 5   Garden Isles Sec One   Hinson Add   Hinson Add 2-7 Pb   Hinson Add 2-7 Pb Lots 18 To 2   Hunters Manor   Kendall Green Sec   Kendall Green Sec B 44-18   Kendall Green Sec C   Lafayette Homesites   Liberty Park Estates Sec   Lyons Park   Lyons Park 33-28 B   Lyons Park First Add   Lyons Park First Add 40-2   Major-rolle Add To Pompan   Monticello Park Amd   Monticello Park Amended P   Norwood 39-21 B   Norwood Sec B 40-6 B   Ocean Drive Estates   Ocean Drive Estates 8-2 B   Ocean Way Park   Old Pompano   Palm Tree   Park Place At Pompano Con   Perry & Wells Sub Corr   Pine Tree Park 2 71-30 B   Pinecrest Acres-resub Of Porti   Pinehurst   Pinehurst 5-13 B   Pinehurst 513 B   Pinewood Heights 23-23 B   Pompano Bch Commy   Pompano Isles   Pompano Terrace   Scott Park   Scotts Park   Scotts Park First Add 23-   Smoaks Add To Pompano   Snug Harbor   Snug Harbor Sec One   Snug Harbor Sec Three 42-   Snug Harbor Sec Two 39-38   Triangle Add To Pompano   Vera Villas 1st Sec   Village Townhouse-pompano   Virginian Apartments   Waterview Apartments   Waterview Estates 46-26 B   Waterview Lodge Co-op   Waverly Place Amd   Westfield Sec B Resub Por  
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