Brand New Multi-Family Property 2013 Adams St Hollywood, FL 33020

Transcription

1 Brand New MultiFamily Property 2013 Adams St Hollywood, FL Brand New Construction 6 Luxury Townhouses Great location in East Hollywood, Florida Less then 2 miles from Hollywood Beach $192,910 ProForma Net Operating Income when fully leased 6.54% ProForma Capitalization Rate Sponsored By: JOHN DEMARCO, ACP JohnDeMarco@Remax.net RE/MAX 5 STAR REALTY 4151 Hollywood Blvd Hollywood, FL (954) Each office is independently owned and operated. Each office independently owned and operated

2 REAL ESTATE INVESTMENT DETAILS 2013 Adams St Hollywood, FL Analysis Analysis Date September 2017 Property Property Property Address Year Built 2017 Brand New MultiFamily Property 2013 Adams St Hollywood, FL Purchase Information Property Type MultiFamily Purchase Price $2,950,000 Units 6 Total Rentable Sq. Ft. 9,000 Financial Information All Cash Loans Type Debt Term Amortization Rate Payment LO Costs All Cash Income & Expenses Gross Operating Income $0 Monthly GOI $0 Total Annual Expenses ($12,890) Monthly Expenses ($1,074) Contact Information John DeMarco, ACP JohnDeMarco@Remax.net P. 2 The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

3 PROPERTY DESCRIPTION 2013 Adams St Hollywood, FL John DeMarco with Re/Max 5 Star Realty is proud to represent the sale of 2013 Adams St, Hollywood Florida. This brand new completed construction project consists 6 luxury townhomes. Located in the heart of East Hollywood Florida, walking distance to the downtown Hollywood, and located less than 2 miles to world famous Hollywood Beach and Broadwalk. This project is ready to lease and operate and has just received a certificate of occupancy from the City. 100% completed project.all townhomes feature 3 bedrooms, 2 and a half bathrooms, highend appliances, granite counter tops, and luxurious finishes. Each townhouse is approximately 1,500 sf. When fully leased up after all expenses the projected net operating income will be $192,910 per year, providing an investor a 6.54% capitalization rate. Townhomes can be resold individually too, huge upside with future appreciation. Once in a lifetime opportunity to acquire a brand new multifamily townhouse project in South Florida. Call for additional information. P. 3 The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

4 PROPERTY PHOTOS 2013 Adams St Hollywood, FL Exterior Parking Kitchen Dining Area Master Bathroom Living Room P. 4 The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

5 DETAILED GENERAL EXPENSES 2013 Adams St Hollywood, FL Description Year 1 Year 2 Year 3 Year 4 Year 5 Total Expenses ($12,890) ($12,890) ($12,890) ($12,890) ($12,890) Building Insurance ($3,000) ($3,000) ($3,000) ($3,000) ($3,000) Management Fees ($3,000) ($3,000) ($3,000) ($3,000) ($3,000) Taxes Real Estate ($5,930) ($5,930) ($5,930) ($5,930) ($5,930) Trash Removal ($960) ($960) ($960) ($960) ($960) The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. P. 5

6 PRO FORMA SUMMARY 2013 Adams St Hollywood, FL INCOME Actual Per Unit Market Per Unit Gross Potential Rent $0 $0 $208,800 $34,800 Less: Vacancy $0 $0 $0 $0 Effective Gross Income $0 $0 $208,800 $34,800 OPERATING EXPENSES Actual Per Unit Market Per Unit Building Insurance $3,000 $500 $3,000 $500 Management Fees $3,000 $500 $6,000 $1,000 Taxes Real Estate $5,930 $988 $5,930 $988 Trash Removal $960 $160 $960 $160 Total Expenses ($12,890) ($2,148) ($15,890) ($2,648) Net Operating Income ($12,890) ($2,148) $192,910 $32,152 P. 6 The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

7 PRO FORMA SUMMARY 2013 Adams St Hollywood, FL UNIT MIX & ANNUAL SCHEDULED INCOME Type Units Actual Total Market Total Residential 3 / 2,5 1 $0 $0 $34,800 $34,800 Residential 3 / 2,5 1 $0 $0 $34,800 $34,800 Residential 3 / 2,5 1 $0 $0 $34,800 $34,800 Residential 3 / 2,5 1 $0 $0 $34,800 $34,800 Residential 3 / 2,5 1 $0 $0 $34,800 $34,800 Residential 3 / 2,5 1 $0 $0 $34,800 $34,800 TOTALS 6 $0 $208,800 INVESTMENT SUMMARY Price: $2,950,000 Year Built: 2017 Units: 6 Price/Unit: $491,667 RSF: 9,000 Price/RSF: $ ANNUALIZED INCOME Actual Market Gross Potential Rent $0 $208,800 Less: Vacancy $0 $0 Effective Gross Income $0 $208,800 Less: Expenses ($12,890) ($15,890) Net Operating Income ($12,890) $192,910 Lot Size: 20,872 sf Floors: 1 APN: Cap Rate:.44% Market Cap Rate: 6.54% Market GRM: ANNUALIZED EXPENSES Actual Market Building Insurance $3,000 $3,000 Management Fees $3,000 $6,000 Taxes Real Estate $5,930 $5,930 Trash Removal $960 $960 Total Expenses $12,890 $15,890 Expenses Per RSF $1.43 $1.77 Expenses Per Unit $2,148 $2,648 P. 7 The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

8 2013 Adams St Hollywood, FL NE 4th St SOLD Fort Lauderdale, FL Broward County Recorded Buyer: 912 Victoria Llc Recorded Seller: Curtis Christopher C 3330 NE 190th St Aventura, FL Sale Date: 05/17/2017 Bldg Type: Class C MultiFamilyApartments Sale Price: $1,200,000 Year Built/Age: Built 1959 Age: 58 Price/SF: $ GBA: 2,864 SF Price/Unit: $600,000 # of Units: 2 PrFrma Cap Rate: Zoning: RMM25 GRM/GIM: Parcel No: Financing: Comp ID: Research Status: In Progress SE 13th St SOLD Dania Beach, FL Broward County Recorded Buyer: Property Invest W Llc Recorded Seller: Ridgely James R & Athrienna M 44 W Flagler St Miami, FL Sale Date: 06/28/2017 Bldg Type: Class C MultiFamilyApartments Sale Price: $520,000 Year Built/Age: Price/SF: $ GBA: 4,275 SF Price/Unit: $520,000 # of Units: 1 GRM/GIM: Parcel No: Financing: Comp ID: Research Status: Public Record E Bay Harbor Dr The Driftwood SOLD Bay Harbor Islands, FL Miami/Dade County Recorded Buyer: Congress Driftwood LLC Recorded Seller: Bruder Enterprises Inc th St Bay Harbor Islands, FL (305) Sale Date: 01/25/2016 Bldg Type: Class C MultiFamilyApartments Sale Price: $9,000,000 Full Value Year Built/Age: Built 1951 Age: 65 Price/SF: $ GBA: 15,656 SF Price/Unit: $562,500 # of Units: 16 PrFrma Cap Rate: Zoning: RE GRM/GIM: Parcel No: Financing: Comp ID: Research Status: Full Value P. 8 Copyrighted report licensed to Re/Max 5 Star Realty /21/2017 The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Page 1

9 2013 Adams St Hollywood, FL Hendricks Is SOLD Fort Lauderdale, FL Broward County Recorded Buyer: Fll Ventures Llc Recorded Seller: Jonathan & Helga Rabley 3 2nd Jersey City, NJ Red Fox Trl Chapin, SC (803) Sale Date: 12/27/2016 Bldg Type: Class C MultiFamilyApartments Sale Price: $1,299,000 Confirmed Year Built/Age: Built 1956 Age: 60 Price/SF: $ GBA: 1,825 SF Price/Unit: $649,500 # of Units: 2 PrFrma Cap Rate: Zoning: RMM25 GRM/GIM: Parcel No: Financing: Comp ID: Research Status: Confirmed P. 9 Copyrighted report licensed to Re/Max 5 Star Realty /21/2017 The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Page 2

10 2013 Adams St Hollywood, FL Trend Report Dollar Volume Legend: Current Survey Sold Transactions Time Interval Quarterly Number of Transactions Total Dollar Volume Total Bldg Square Feet Total Land in Acres Total Land in SF Total Units Average Price Average Number of SF Average Price Per Bldg SF Median Price Per SF Average Number of Acres Average Number of SF(Land) Average Price Per Unit Median Price Per Unit Average Number of Units Actual Cap Rate Average GRM Average GIM Report Time Frame: 1/1/2016 8/21/2017 Sold Transactions 4 $12,019,000 24, , $3,004,750 6,155 $ $ ,923 $566,667 $581,250 9 P. 10 Copyrighted report licensed to Re/Max 5 Star Realty /21/2017 The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Page 3

11 2013 Adams St Hollywood, FL Trend Report 1Q16 01/13/31/16 4Q16 10/112/31/16 2Q17 04/16/30/17 Sold Transaction Sold Transaction Sold Transaction Number of Transactions Total Dollar Volume Total Bldg Square Feet Total Land in Acres Total Land in SF Total Units Average Price Average Number of SF Average Price Per Bldg SF Median Price Per SF Average Number of Acres Average Number of SF(Land) Average Price Per Unit Median Price Per Unit Average Number of Units Actual Cap Rate Average GRM Average GIM 1 $9,000,000 15, , $9,000,000 15,656 $ $ ,651 $562,500 $562, $1,299,000 1, ,098 $1,299,000 1,825 $ $ ,098 2 $1,720,000 7, ,019 2 $860,000 3,570 $ $ ,019 $600,000 $600,000 2 P. 11 Copyrighted report licensed to Re/Max 5 Star Realty /21/2017 The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Page 4

12 LOCATION MAP 2013 Adams St Hollywood, FL P. 12 The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

13 DEMOGRAPHICS 2013 Adams St Hollywood, FL POPULATION 1 MILE 3 MILE 5 MILE Male 12,381 (51.11 %) 72,987 (47.97 %) 161,374 (47.73 %) Female 11,845 (48.89 %) 79,151 (52.03 %) 176,718 (52.27 %) Total Population 24, , ,092 AGE BREAKDOWN 1 MILE 3 MILE 5 MILE Ages 04 1,149 (4.74 %) 6,573 (4.32 %) 16,045 (4.75 %) Ages 59 1,390 (5.74 %) 8,379 (5.51 %) 20,569 (6.08 %) Ages ,244 (5.13 %) 7,821 (5.14 %) 19,349 (6.08 %) Ages ,144 (4.72 %) 7,352 (4.83 %) 18,396 (5.44 %) Ages ,213 (5.01 %) 7,357 (4.84 %) 18,175 (5.38 %) Ages ,310 (5.41 %) 7,479 (4.92 %) 18,102 (5.35 %) Ages ,497 (6.18 %) 7,878 (5.18 %) 18,714 (5.54 %) Ages ,715 (7.08 %) 8,835 (5.81 %) 20,412 (6.04 %) Ages ,919 (7.92 %) 10,102 (6.64 %) 22,712 (6.72 %) Ages ,050 (8.46 %) 11,216 (7.37 %) 24,472 (7.24 %) Ages ,029 (8.38 %) 11,252 (7.40 %) 24,167 (7.15 %) Ages ,855 (7.66 %) 10,725 (7.05 %) 22,672 (6.71 %) Ages ,579 (6.52 %) 9,777 (6.43 %) 20,409 (6.04 %) Ages ,262 (5.21 %) 8,543 (5.62 %) 17,641 (5.22 %) Ages (4.01 %) 7,364 (4.84 %) 14,983 (4.43 %) Ages (2.77 %) 6,250 (4.11 %) 12,407 (3.67 %) Ages (1.76 %) 4,956 (3.26 %) 9,679 (2.86 %) Ages (3.30 %) 10,279 (6.76 %) 19,188 (5.68 %) P. 13 The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

14 DEMOGRAPHICS 2013 Adams St Hollywood, FL HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE Median Income $37,187 $46,689 $48,565 Less than $10, ,483 12,608 $10,000 $14, ,658 9,029 $15,000 $19, ,144 9,052 $20,000 $24, ,461 8,535 $25,000 $29,999 1,373 4,780 9,277 $30,000 $34, ,778 8,400 $35,000 $39, ,722 7,725 $40,000 $44, ,867 7,732 $45,000 $49, ,200 6,715 $50,000 $59, ,097 11,875 $60,000 $74, ,427 14,148 $75,000 $99, ,831 15,131 $100,000 $124, ,178 8,986 $125,000 $149, ,315 4,642 $150,000 $199, ,046 4,405 Greater than $200, ,241 5,655 HOUSING 1 MILE 3 MILE 5 MILE Housing Units 14,565 95, ,400 Occupied Units 11,797 71, ,079 Owner Occupied Units 4,130 41,454 89,545 Renter Occupied Units 7,667 30,034 56,534 Vacant Units 2,768 23,722 43,321 RACE DEMOGRAPHICS 1 MILE 3 MILE 5 MILE Population Non Hispanic White 15, , ,628 Population Black 6,804 29,643 80,945 Population Am In/Ak Nat P. 14 The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

15 FLORIDA S HOLLYWOOD BEACH AND DOWNTOWN BUSINESS AND REDEVELOPMENT OPPORTUNITIES CAPITAL IMPROVEMENT PLAN

16 WHY MOVE YOUR BUSINESS TO HOLLYWOOD? Close to international airport and seaport Centrally located in 3.5 million population No personal income tax Turnpike Port Everglades Diverse labor force and talent pool Waterfront executive housing Abundant workforce housing Colleges and universities close by Arts and culture hub Business friendly government Golf courses, beaches, kayaking, fishing TriRail 1 A1A Fort LauderdaleHollywood International Airport ATLANTIC OCEAN Year round warm weather and sunshine Unmatched quality of life N

17 HOLLYWOOD BYTHENUMBERS 3.2 million annual visitors 5,150 hotel rooms: exceeds national average for hotel occupancies Fort LauderdaleHollywood International Airport 25 million passengers annually One of the fastest growing airports in the U.S. Port Everglades 4 million cruise passengers annually #2 cruise port in the world Strategic Locations in Florida 10 minutes to Fort LauderdaleHollywood International Airport 30 minutes to Miami 15 minutes to Fort Lauderdale Conveniently located between I95 and US1 corridors The City of Hollywood encompasses 27 square miles along the Atlantic Ocean between Miami and Fort Lauderdale. The Fort LauderdaleHollywood International Airport lies along the City s northern limits. Port Everglades, one of the busiest cruise ports in the world, lies primarily within Hollywood s boundaries. Together, these facilities provide international access. In addition, I95, US1, Florida s Turnpike, TriRail, Amtrak and public transportation provide easy and convenient accessibility from Hollywood to the rest of the country. For information about CRA grants and incentives, visit HollywoodCRA.org. 1

18 DOWNTOWN HOLLYWOOD REDEVELOPMENT Existing Development Scheduled Development Landmarks Redevelopment Opportunity Public Parking Garage H3 247 Luxury Condominiums development FEC RAILWAY Hollywood Station Condominium 211 Units Courtyards of Hollywood Station 43 Townhomes 21ST AVE Retail/Office/ Residential Barry University Graduate School of Biomedical Sciences City of Hollywood Transit Oriented Development Proposed Residential Development Lofts at Hollywood Station 93 Condos 20TH AVE FILLMORE ST TAYLOR ST POLK ST TYLER ST Anniversary Park HARRISON ST VAN BUREN ST JACKSON ST 19TH AVE Hollywood HOLLYWOOD Blvd Historic BLVD. District Cinema Paradiso Hollywood Arthouse cinema JED Development 134 Residential units 11,000 sq. ft. commercial space Radius 311 Residential units 40,000 sq. ft. commercial space N YO UN G C IRC LE S Y O U N G Young Circle Commons 229 Residential units 24,916 sq. ft. retail Regent Park 253 Units Redevelopment Opportunity US1 US1 C IR C LE E C IRC LE YO UN G Proposed Mixeduse Development Redevelopment Opportunity Hollywood Circle 397 Residential units 104 room boutique hotel 58,646 sq. ft. retail space incl. 48,000 sq. ft. Publix Proposed Mixeduse Development Art & Culture Center of Hollywood Downtown Hollywood has much to offer with new and planned construction of ClassA office space, cowork shared work space options, mixeduse opportunities, flexible zoning and the charm of a traditional downtown. Wide brick paved sidewalks and convenient northsouth and eastwest corridors make Downtown Hollywood an easy and ideal area to navigate by foot, bicycle, vehicle or public transportation. Home to the Hollywood Art & Culture Center, Cinema Paradiso Hollywood arthouse cinema, the ArtsPark at Young Circle and dozens of international restaurants and cafés, galleries and unique shops, Downtown Hollywood is a distinctive business, cultural and entertainment market and an exciting place to live, work and play. The ArtsPark at Young Circle in Downtown Hollywood is an award winning tenacre circular park, designed with active spaces that stimulate, meditate and entertain. Live music events attract thousands of attendees. 2

19 JED DEVELOPMENT 134 Residential Units YOUNG CIRCLE COMMONS 229 Residential Units HOLLYWOOD CIRCLE 397 Residential Units 3

20 HOLLYWOOD BEACH REDEVELOPMENT SHERIDAN ST. Villas of Positano 62 units Sunset Harbor 10 fourstory townhomes Marriott Hollywood Beach 229 Rooms Margaritaville Resort 349 Rooms 1,056space Parking Garage LEED Silver Resort Positano units Sky Harbor 8unit luxury condos Nevada St. Parking Garage Stardust Mixeduse Parking Pavilion Hollywood Beach, voted one of the top beach destinations in the U.S. by TripAdvisor, is known for its worldfamous Broadwalk, which stretches 2.5 miles along the white sand. Guests from around the world stay in its luxury hotels and charming boutique inns. Hollywood Beach offers numerous retail, residential and commercial development opportunities. HOLLYWOOD BLVD. Luxuria of Hollywood 8unit luxury condos Diplomat Resort & Spa 1,000 Rooms HALLANDALE BEACH BLVD. INTRACOASTAL WATERWAY Costa Hollywood 307 units 30,000+ sq. ft. retail Sage Beach 24 Beachfront condos ATLANTIC OCEAN MARGARITAVILLE HOLLYWOOD BEACH RESORT MELIA COSTA HOLLYWOOD 304 Residential Units 4

21 DOWNTOWN HOLLYWOOD CAPITAL IMPROVEMENT PLAN The following capital improvements reflect the projected growth needs of the CRA District to maintain its stature as a world class destination and to provide comfortable conditions for its residents and businesses, ensuring that development is consistent with the community s plans and vision. Before After Festoon Lighting Festoon Lighting (String) across Hollywood Boulevard Festoon Lighting (Curtain) at 21st and Young Circle (optional) Before After New Clay Pavers Remove existing concrete banding in key areas Install new clay pavers throughout Provide midblock expansion / improvements Provide paver crosswalks Provides most longevity for color/appearance 5

22 DOWNTOWN HOLLYWOOD CAPITAL IMPROVEMENT PLAN Tyler Street Reconfiguration Options Option A: Twoway with median Option B: Twoway with east bound bike lane 6

23 Wayfinding Signage Wayfinding signage to assist in the easy identification of businesses, parks and special events Neighborhood Lighting Improvements to neighborhood lighting for pedestrian and vehicular safety Eight streets located north and south of Hollywood Boulevard Gateway Markers Enhancement of entrances to the Downtown core through integrated design elements 7

24 HOLLYWOOD BEACH CAPITAL IMPROVEMENT PLAN Marine Turtle Lighting Retrofit existing Broadwalk light fixtures to be compliant with marine turtle lighting ordinance Retrofit noncompliant cobra head fixtures on E/W side streets not yet converted to new lighting Nevada Street Garage New 7 level public parking garage Approximately 316 parking spaces 3500 SF retail space 8 Lifeguard Towers Replacement of life guard stations: 14 towers and 6 first aid stations within CRA district Johnson Street Hub Relocating mast arm Gateway features Wayfinding signage Landscape enhancements Lift station beautification Stamped asphalt crosswalk Streetscape Phase III: Oklahoma to New Mexico Streets Phase IV: Harrison Street to Magnolia Terrace Hardscape & streetend plazas with parking Marine turtle friendly street lighting Landscaping and irrigation Overhead conversion Public restroom(s)

25 Hollywood Boulevard Bridge Replacing existing ramps with Ttype intersection Maintain existing bascule support N/S A1A remains in current configuration Removal of NB East loop ramp Dune Fencing From Sherman Street to Azalea Terrace Dune fencing behind Summit Condo Hollywood Beach Hotel Oklahoma, Hayes, and Sherman Streets Replacement of existing wooden fence with new post and rope Leveling sand that extends outside the dunes State Road A1A Hollywood Blvd. to Sheridan Street Undergrounding of overhead utilities Streetscape beautification Safer ADA Sidewalks Enhanced landscaping and trees Sharrow Lane Four and fivelane configuration A1A Linear Park Small dog park Public day docks Public Art Enhanced bus stop Shaded seating and walkway Lift station architectural enhancement and landscape Broadwalk Enhancements Solar LED pavers Phosphorescent paint symbols on Broadwalk Concrete pole replacement 9

26 1948 Harrison Street, Hollywood, Florida HOLLYWOOD COMMUNITY REDEVELOPMENT AGENCY Board Members Peter Bober Executive Director Jorge Camejo Patricia Asseff Kevin D. Biederman Richard S. Blattner Traci L. Callari Peter D. Hernandez Linda Sherwood General Counsel Jeffrey P. Sheffel