This opportunity combines the traditional option of renovations and repositioning with underlying development appeal as it was built on land that is entitled to some of the best zoning allowances in all of South Florida. There are multiple lenses to look through regarding this property, including the VHN Business Model for maximum income. With access from three paved roads, the property also provides the rare ingress/egress necessary for substantial multifamily development to match neighboring buildings under construction or in some planning stage.
The property is centrally located between Miami and Fort Lauderdale and is currently zoned FH-2, Medium Density Mixed Use. The property sits inside the Regional Activity Center which has eliminated the antiquated development standard of units per acre allowing for maximum flexibility as it relates to design.
The property is situated on contiguous parcels with land totaling .46 acres and contains ample existing green space and is neighboring a golf course with easy access. To maximize revenue, the property will be renovated to double the number of units and transform the complex into a mini luxury resort for members of the VHN Business Model.
INVESTMENT ESSENTIALS
Investment Required: $15,000,000
Renovation, Furnishing & Outfitting: Included
Profit: $31,800,000
Annual Income (members): $1,404,000
Annual Expense: $500,000
Annual Profit: $904,000
PROPERTY FACTS
Purchase Price: $15,000,000
Lot Size: 0.46 AC
No. Units Current: 18 / After Renovation: 36
No. Stories 3
PROPERTY VALUE IN 5-YEARS
$35,000,000
LEAD (REGISTERED LEAD GENERATORS)
Commission: $500,000
Details
- Adults: 1
- Categories: Investment Properties, USA - Miami - Florida