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4549 Bougainvilla Dr
Lauderdale By The Sea, FL 33308 Lauderdale-by-the-Sea

$1,649,000

Apartments For Sale  •  3,023 Sq Ft

Property Details

  • Property Type Apartments
  • Total Building Size 3,023 Sq Ft
  • Lot Size 0.14 ac
  • Building Class C
  • Year Built 1949
  • Cap Rate 5.74 %
  • Zoning RM-25
32 Transit Score
71 Walk Score

Description

9-UNIT HOTEL/MULTI-FAMILY HAS GONE THROUGH A MAJOR RENOVATION. 7 OF THE 9 UNITS HAVE BEEN GUTTED AND UPDATED WITH MODERN FINISHES; MARBLE FLOORS, MODERN KITCHENS WITH QUARTZ COUNTER TOPS, NEW BATHROOMS, RECESSED LIGHTING, SPLIT A/C UNITS, UPDATED ELECTRIC AND PLUMBING. THE ENTIRE BUILDING HAS IMPACT WINDOWS AND DOORS. HOTEL LICENSE COMES WITH THE PURCHASE. DAILY VACATION RENTALS ARE ALLOWED. DIRECTLY ONE BLOCK FROM THE SANDY BEACHES, RESTAURANTS, GROCERY STORES AND ENTERTAINMENT. 100% RENTED AT ALL TIMES. HIGHEST AND BEST USE IS AS A VACATION RENTAL, WHICH OFFERS A 9-10% CAP.

Highlights

2-Blocks To The Sandy Beaches
1-Block To Restaurants, Shopping and Groceries
New Impact Windows and Doors Throughout
7 Of The 9 Units Are Completely Updated
Grandfathered Hotel/Motel License Included In Sale
Vacation Rentals Allowed

Property Flyers

Financial Summary (Actual)

Net Operating Income: $97,300 (2019)
Cap Rate: 5.74 %
Total Expenses: $22,400

Amenities

  • Air Conditioning
  • Courtyard
  • Laundry Facilities
  • Microwave
  • Heating
  • Ceiling Fans
  • Tile Floors
  • Kitchen
  • High Speed Internet Access
  • Refrigerator
  • Oven
  • Stainless Steel Appliances
  • Range
  • Tub/Shower
  • Built-In Bookshelves
  • Deck
  • Garden
  • Handrails
  • Island Kitchen
  • Lawn
  • Patio
  • Window Coverings

Public Transportation

Commuter RailDriveWalkDistance
Cypress Creek Commuter Rail (Tri-County Commuter) 11 min - 4.5 mi
Pompano Beach Commuter Rail (Tri-County Commuter) 20 min - 9.7 mi
AirportDriveWalkDistance
Fort Lauderdale–Hollywood International Airport 26 min - 14.3 mi

Parking Details

Parking Available: No
Reserved: No
Type: Covered
Included in Rent: Yes
Ron Platt 786-281-1965 Keller Williams Eagle Realty
Ron Platt 786-281-1965 Keller Williams Eagle Realty