200, 216-218 NW 25 st. Wilton Manors, FL

Is a 10 unit property, combined of a 2 story 8 unit building and a 2 unit building. Building was purchased in August, 2016 for $1,275,000, with a 1M$ loan for purchase.

The Property required to evict all of the tenants and to preform major renovations, including conversion of the units from 2/1 into 2/2’s with Washerand Dryer.

We have done a full “gut renovation” with leaving only the shell of the building, while replacing everything else, including impact doors and windows and replacing all of the electrical and plumbing, and added outdoor gardens for the ground floor units.

We have invested $650,000 in the work, and successfully created a high-end product for the community of Wilton Manors.

In March 2019 we have done a re-finance, and were able to receive the full initial investment back.

In November 2021 we have done an additional re-finance, and lowered the interest rate on the loan from 5.21% to 3.1%.

Property still presents us with a strong cash flow, with an estimated value is 3.5M$.