Real Estate Investment in Fort Lauderdale August 2013

Cash Flow Friday's is a blog post that focuses on available real estate investment in Fort Lauderdale.   These posts are geared towards those who are looking to purchase real estate for investment purposes.  All properties that are featured will have positive cash flow.  Any property presented will be in an area, or complex, where rental demand is high so risk of rent loss to the owner is as low as possible. It is assumed that these purchases will be cash buys.  For a detailed analysis of cash on cash returns where a portion of the transaction is financed please email or call me.  The search area for my investment clientele will span from I-95 East to the Atlantic Ocean.  We will use Oakland Park Boulevard as our Northern Border, and 595 as our Southern border.  The search area will include Wilton Manors, Coral Shores, Lake Ridge, as well as my typical coverage area in Fort Lauderdale.

Fort Lauderdale Beach Investment Property

Today's real estate investment in Fort Lauderdale is located on North Fort Lauderdale Beach.  The property location is 2131 N Ocean Blvd, unit #17.  At the time of this posting the property was listed for sale by GSIG LLC for $120,000.  The reason I like this property is it's proximity to the beach.  The building is located on A1A just north of Hugh Taylor Birch State Park, between Sunrise and Oakland Park  Boulevards.  The complex has a pool and private parking.  Per the listing there aren't restrictions in investor purchases so you can rent immediately after purchase.

Fort Lauderdale Beach real estate investment map

Rents in the area range from $1,100 to $1,200 for properties in comparable condition.  We will be conservative and use $1,100 for our income line.  So the financials look like this:

Income

  • $1,100 monthly or $13,200 yearlyFort Lauderdale Beach condo

Expenses

  • $2,400 taxes (based on $120,000 purchase price)
  • $315 monthly HOA fees, $3,780 yearly

$13,200- $6180 =$7,020 NOI

$7,020/ 120,000 = 5.85% cap rate.

The true value I see in the property is it's location and likely hood of price appreciation.  They're not building anymore beach (unless you're in Dubai)!  This is a nice property for someone looking for a real estate investment in Fort Lauderdale.

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I work as a real estate specialist in a small area of Fort Lauderdale. If you’re interested in buying or selling a home, condominium, or townhouse (townhome) in: Rio Vista, Victoria Park, Downtown Fort Lauderdale, Fort Lauderdale Beach, Harbor Beach, Lauderdale Harbors, Sailboat Bend, Tarpon River, Croissant Park, Collee Hammock, Seven Isles, Nurmi Isles, Idlewyld, or Las Olas Isles, please feel free to contact me at (786)443-7203 or through my email caseyprindle@gmail.com.  I am a Realtor that works on Saturdays to accommodate those with busy schedules.

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Written By Casey Prindle