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2131 NE 40th Ct 8 Unit Apartment Building £1,495,320 (£186,915/Unit) 5.57% Net Initial Yield Lighthouse Point, FL 33064
INVESTMENT HIGHLIGHTS
- 8 Updated Units East Of Us-1
- Located Minutes To Sandy Beaches And Vibrant Shopping
- All Units Are Large Updated 1 Bed 1 Bath, With Living & Dining Rooms
- Perfect For Possible Air Bnb Or Vacation Rentals
EXECUTIVE SUMMARY
WOW!!! HUGE PRICE REDUCTION!!! SELLER SAYS SELL NOW!!! CURRENT GROSS INCOME $161,208 POTENTIAL GROSS $175-200+++ Fantastic Find In The Heart Of Lighthouse Point, 8 Updated Units East Of Us-1. Surrounded By Multi-Million Dollar Residential Properties. All Units Are Large Updated 1 Bed 1 Bath, With Living & Dining Rooms. Located Minutes To Sandy Beaches And Vibrant Shopping, This Is The Money Maker You've Been Waiting For, Location! Location! Location! Perfect For Possible Air Bnb Or Vacation Rentals. All Units Have Central A/C, Hurricane Impact Windows, Doors And Updated Electric. Designated Storage For Each Tenant & Coin Laundry. Roof Is Roughly Around 14 Years. Most A/C Units Were Replaced In The Last 5-6 Years. This Property Is Turnkey And Ready To Go! See Attachment And Or Call Listing Broker For More Details. Also Call Listing Agent For A List Of Other Multi-Family Properties For Sale.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER sq ft |
|---|---|---|
| Gross Rental Income |
£121,121
|
£18.59
|
| Other Income |
£1,869
|
£0.29
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£122,990
|
£18.88
|
| Taxes |
£29,243
|
£4.49
|
| Operating Expenses |
£8,615
|
£1.32
|
| Total Expenses |
£37,858
|
£5.81
|
| Net Operating Income |
£85,132
|
£13.07
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | £121,121 |
| Annual Per sq ft | £18.59 |
| Other Income | |
|---|---|
| Annual | £1,869 |
| Annual Per sq ft | £0.29 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Effective Gross Income | |
|---|---|
| Annual | £122,990 |
| Annual Per sq ft | £18.88 |
| Taxes | |
|---|---|
| Annual | £29,243 |
| Annual Per sq ft | £4.49 |
| Operating Expenses | |
|---|---|
| Annual | £8,615 |
| Annual Per sq ft | £1.32 |
| Total Expenses | |
|---|---|
| Annual | £37,858 |
| Annual Per sq ft | £5.81 |
| Net Operating Income | |
|---|---|
| Annual | £85,132 |
| Annual Per sq ft | £13.07 |
PROPERTY FACTS
| Price | £1,495,320 | Costar Property Class | C |
| Price Per Unit | £186,915 | Total Plot Size | 0.21 ac |
| Sale Type | Investment | Property Size | 6,515 sq ft |
| Yield | 5.57% | Average Occupancy | 100% |
| No. Units | 8 | No. Floors | 2 |
| Property Type | Build-to-Rent | Year Built | 1964 |
| Property Subtype | Apartment | Parking Allocation | 1.45/1,000 sq ft |
| Apartment Style | Low-Rise | ||
| Use Class | RM-25 - Multi-family 5 - 9 units | ||
| Price | £1,495,320 |
| Price Per Unit | £186,915 |
| Sale Type | Investment |
| Yield | 5.57% |
| No. Units | 8 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Costar Property Class | C |
| Total Plot Size | 0.21 ac |
| Property Size | 6,515 sq ft |
| Average Occupancy | 100% |
| No. Floors | 2 |
| Year Built | 1964 |
| Parking Allocation | 1.45/1,000 sq ft |
| Use Class | RM-25 - Multi-family 5 - 9 units |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Storage Space
- Kitchen
- Refrigerator
- Double Pane Windows
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Storage Space
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| 1+1 | 8 | £9,992 | - |
1 1
Walk Score®
Easily Walkable (73)
PROPERTY TAXES
| Parcel Number | 48-43-17-03-0460 | Total Assessment | £1,367,597 |
| Land Assessment | £80,747 | Annual Taxes | £29,243 (£4.49/sq ft) |
| Improvements Assessment | £1,286,850 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
48-43-17-03-0460
Land Assessment
£80,747
Improvements Assessment
£1,286,850
Total Assessment
£1,367,597
Annual Taxes
£29,243 (£4.49/sq ft)
Tax Year
2025
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2131 NE 40th Ct
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