Hollywood Beach Multi-Family A+ location steps away from Hollywood Beach Broad-Walk Recently renovated property is in great condition 100% occupied Actual NOI is $95,500 per year yielding a strong Capitalization Rate of 6.6% One of the fastest appreciating areas in South Florida, 4 blocks away from new Margaritaville resort. Sponsored By: JOHN DEMARCO, CCIM 954-678-8733 JohnDeMarco@Remax.net Each office is independently owned and operated. ALEX BRUNO Licensed Real Estate Agent RE/MAX EXECUTIVE REALTY 1939 Hollywood Blvd Hollywood, FL 33020 (954) 862-2600 Each office independently owned and operated
REAL ESTATE INVESTMENT DETAILS Analysis Analysis Date October 2016 Property Property Property Address Hollywood Beach Multi-Family 326 Fillmore St Hollywood, FL 33019 Purchase Information Property Type MultiFamily Purchase Price $1,439,000 Units 6 Total Rentable Sq. Ft. 2,400 Financial Information All Cash Loans Type Debt Term Amortization Rate Payment LO Costs All Cash Income & Expenses Gross Operating Income $120,000 Monthly GOI $10,000 Total Annual Expenses ($24,500) Monthly Expenses ($2,042) Contact Information John DeMarco, CCIM 954-678-8733 JohnDeMarco@Remax.net Alex Bruno P. 2
EXECUTIVE SUMMARY ACQUISITION COSTS Purchase Price, Points and Closing Costs $1,439,000 Investment - Cash $0 INVESTMENT INFORMATION Purchase Price $1,439,000 Price per Unit $239,833 Price per Sq. Ft. $599.58 Income per Unit $20,000 Expenses per Unit ($4,083) INCOME, EXPENSES & CASH FLOW Gross Scheduled Income $120,000 Total Vacancy and Credits $0 Operating Expenses ($24,500) Net Operating Income $95,500 Debt Service $0 Cash Flow Before Taxes $95,500 FINANCIAL INDICATORS Debt Coverage Ratio Capitalization Rate 6.64% Gross Rent Multiplier 11.99 Gross Income / Square Feet $50.00 Gross Expenses / Square Feet ($10.21) Operating Expense Ratio 20.42% P. 3
PROPERTY DESCRIPTION Hollywood Beach Multifamily 326 Fillmore St Hollywood Alex Bruno and John DeMarco with Re/Max are proud to represent the sale of 326 Fillmore St. Located on prestigious Hollywood Beach Florida. Rare opportunity to invest in one of the fastest appreciating affluent areas of South Florida. The subject property consists of 6 leasable units, 4 studios, and 2 one bedroom units. Based on the geographical location, these units are very easy to lease and maintain high occupancy rates and income. It is currently being operated as short term rentals to maximize income and profits. All units are is great condition and This property is currently grossing $120,000 per year netting $95,500 per year. This Actual NOI provides an investor with a strong 6.6% capitalization rate. Located just 4 blocks aways from award winning Margaritaville Hotel and resort. A++ location. Excellent opprutunity to invest in one of the fastest growing areas in South Florida. Please remember to not disturb the existing tenants, all showings are by appointment only. Call listing agent for all showings and additional information. P. 4
UNIT MIX REPORT UNIT MIXES Units Type Approx. SqFt Avg. Rents Monthly Mkt Rents Monthly 1 Residential studio 350 $1,500 $1,500 $1,500 $1,500 1 Residential studio 350 $1,500 $1,500 $1,500 $1,500 1 Residential studio 350 $1,500 $1,500 $1,500 $1,500 1 Residential studio 350 $1,500 $1,500 $1,500 $1,500 1 Residential 1/2 500 $2,000 $2,000 $2,000 $2,000 1 Residential 1/2 500 $2,000 $2,000 $2,000 $2,000 6 2,400 $10,000 $10,000 UNIT MIX UNIT MIX SQUARE FEET Residential 1/2 Residential 1/2 Residential 1/2 Residential 1/2 UNIT MIX INCOME UNIT MIX MARKET INCOME Residential 1/2 Residential 1/2 Residential 1/2 Residential 1/2 P. 5
DEMOGRAPHICS POPULATION 1 MILE 3 MILE 5 MILE Male 2,791 (49.83 %) 41,416 (48.65 %) 94,135 (48.00 %) Female 101,960 (50.17 %) 101,960 (51.35 %) 101,960 (52.00 %) Total Population 5,601 85,129 196,095 AGE BREAKDOWN 1 MILE 3 MILE 5 MILE Ages 0-4 153 (2.73 %) 3,212 (3.77 %) 8,397 (4.28 %) Ages 5-9 239 (4.27 %) 4,058 (4.77 %) 10,777 (5.50 %) Ages 10-14 273 (4.87 %) 3,711 (4.36 %) 10,137 (5.50 %) Ages 15-19 252 (4.50 %) 3,393 (3.99 %) 9,561 (4.88 %) Ages 20-24 215 (3.84 %) 3,417 (4.01 %) 9,420 (4.80 %) Ages 25-29 175 (3.12 %) 3,593 (4.22 %) 9,441 (4.81 %) Ages 30-34 166 (2.96 %) 4,095 (4.81 %) 10,063 (5.13 %) Ages 35-39 215 (3.84 %) 4,952 (5.82 %) 11,394 (5.81 %) Ages 40-44 313 (5.59 %) 5,851 (6.87 %) 13,053 (6.66 %) Ages 45-49 418 (7.46 %) 6,577 (7.73 %) 14,365 (7.33 %) Ages 50-54 468 (8.36 %) 6,605 (7.76 %) 14,354 (7.32 %) Ages 55-59 476 (8.50 %) 6,321 (7.43 %) 13,717 (7.00 %) Ages 60-64 470 (8.39 %) 5,781 (6.79 %) 12,603 (6.43 %) Ages 65-69 431 (7.70 %) 5,187 (6.09 %) 11,155 (5.69 %) Ages 70-74 377 (6.73 %) 4,570 (5.37 %) 9,685 (4.94 %) Ages 75-79 312 (5.57 %) 3,959 (4.65 %) 8,298 (4.23 %) Ages 80-84 226 (4.03 %) 3,189 (3.75 %) 6,579 (3.36 %) Ages 85+ 422 (7.53 %) 6,658 (7.82 %) 13,096 (6.68 %) P. 6
DEMOGRAPHICS HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE Median Income $68,125 $44,037 $51,239 Less than $10,000 132 3,730 7,763 $10,000 -$14,999 118 3,054 5,393 $15,000 - $19,999 158 3,396 5,882 $20,000 -$24,999 126 2,516 5,227 $25,000 - $29,999 110 3,095 5,705 $30,000 - $34,999 72 2,486 4,631 $35,000 - $39,999 20 2,374 4,454 $40,000 - $44,999 184 2,548 4,825 $45,000 - $49,999 44 1,856 3,844 $50,000 - $59,999 212 3,164 6,857 $60,000 - $74,999 231 3,750 7,966 $75,000 - $99,999 326 3,961 9,631 $100,000 - $124,999 285 2,389 5,854 $125,000 - $149,999 123 1,092 3,503 $150,000 - $199,999 308 1,233 3,211 Greater than $200,000 277 1,347 4,173 HOUSING 1 MILE 3 MILE 5 MILE Housing Units 4,149 60,915 123,770 Occupied Units 2,836 43,095 90,981 Owner Occupied Units 2,207 22,831 53,719 Renter Occupied Units 629 20,264 37,262 Vacant Units 1,313 17,820 32,789 RACE DEMOGRAPHICS 1 MILE 3 MILE 5 MILE Population Non Hispanic White 5,508 66,761 152,409 Population Black 39 13,386 32,793 Population Am In/Ak Nat 35 47 P. 7
SALES COMPARABLES 8% Cap Rate 16.0 Gross Rent Multiplier 7% 14.0 6% 12.0 5% 10.0 4% 8.0 3% 6.0 2% 4.0 1% 2.0 Subject Subject $536,000 Price per Unit $696 Price per Sq. Ft. $469,000 $402,000 Avg. $423,133 $609 $522 Avg. $624.21 $335,000 $435 $268,000 $348 $201,000 $261 $134,000 $174 $67,000 $87 Subject 1 2 3 Subject 1 2 3 P. 8
SALES COMPARABLES S Hollywood Beach Multi-Family 326 Fillmore St Hollywood, FL 33019 Sale Price $1,439,000 Units 6 Price/Unit $239,833 Price/SqFt $599.58 Cap Rate 6.64% Year Built GRM 11.99 # Units Unit Type 1 Residential studio 1 Residential studio 1 Residential studio 1 Residential studio 1 Residential 1/2 1 Residential 1/2 1 Sale Date 8/4/2016 315 Grant St 315 Grant St Hollywood, FL 33019 Sale Price $958,800 Units 2 Price/Unit $479,400 Price/SqFt $655.81 Cap Rate Year Built GRM # Units Unit Type 2 Sale Date 4/29/2016 315 Arthur 315 Arthur St Hollywood, FL 33019 Sale Price $3,850,000 Units 15 Price/Unit $256,667 Price/SqFt $521.47 Cap Rate Year Built GRM # Units Unit Type P. 9
SALES COMPARABLES 3 Sale Date 7/1/2016 2740 N Surf 2740 N Surf Rd Hollywood, FL 33019 Sale Price $1,600,000 Units 3 Price/Unit $533,333 Price/SqFt $695.35 Cap Rate Year Built GRM # Units Unit Type P. 10
SALES COMPARABLES S 326 Fillmore St Hollywood, FL, 33019 $1,439,000 1 315 Grant St Hollywood, FL, 33019 $958,800 2 315 Arthur St Hollywood, FL, 33019 $3,850,000 3 2740 N Surf Rd Hollywood, FL, 33019 $1,600,000 P. 11
PROPERTY PHOTOS 89628-PP-1.jpg 89628-PP-2.jpg 89628-PP-3.jpg 89628-PP-4.jpg 89628-PP-5.jpg 89628-PP-6.jpg P. 12
MAPS AND AERIALS Property Location and should be personally verified through personal inspection by and/or with the appropriate professionals. P. 13
LOCATION MAP P. 14
CUMULATIVE WEALTH ANALYSIS $480,000 $432,000 $384,000 $336,000 $288,000 $240,000 $192,000 $144,000 $96,000 $48,000 Year 1 2 3 4 5 Legend Equity (loan reduction) Equity (appreciation) CASH FLOW (a/t) and should be personally verified through personal inspection by and/or with the appropriate professionals. P. 15
OPERATING INCOME ANALYSIS $130,000 $117,000 $104,000 $91,000 $78,000 $65,000 $52,000 $39,000 $26,000 $13,000 Year 1 2 3 4 5 Legend GROSS OPERATING INCOME NET OPERATING INCOME NET CASH FLOW (b/t) and should be personally verified through personal inspection by and/or with the appropriate professionals. P. 16