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6028 Johnson Street, Hollywood, FL

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6028 Johnson Street

Hollywood, FL 33024-6051 - 441 Corridor MF Submarket

Property Type:Multi-Family Number of Units:50 Status:Existing Year Built:-
Stories:- Building Size:71,988 SF Land Area:1.65 AC (71,987 SF)
For Sale Price:$2,799,000 Price/Unit:$55,980.00 Cap Rate:8.96 % GRM:-


This is a multi-family park with a friendly atmosphere that sits on 1.6 acres of land. It accommodates 41 MH and RV pads. All 41 pads are separately metered for electric. The park pays for city water and trash and the tenant is responsible for their own electricity. The units are all tenant owned, with the exception of eight (8) units that are park owned. Great cash flow with a tremendous upside potential for additional income. More information available upon request. The seller is motivated.
The park is centrally located in the West Hollywood area of Broward County Florida. Close to several casinos, the world renown Sawgrass Mills Mall, Dade and Broward sports arenas and much more. Close to the Interstate and Florida Turnpike. Just minutes away from Hollywood beach boardwalk and the Atlantic ocean.

Sale Notes:
Royal Garden has 50 leasable pads. Located in desirable Hollywood Florida. This is a fee simple transaction with no ground leases.
Property is currently 100% occupied. There is very little maintenance with low operating expenses. This park has a manager on site and is very easy to manage and operate. The total lot size is 71,988 sq ft (1.65 acres). It is very feasible this location can be developed into a residential apartment building, or commercial project. This property has over 220 feet of street frontage on Johnson St which is a major artery.
Royal Garden is currently grossing $25,050 monthly, $300,600 annually. The expenses are $2,667 monthly, $32,009 annually. The actual net operating income is $268,716 annually. This NOI provides an investor a strong capitalization rate of 8.96% at the full asking price of $2,999,000.
Conventional financing available 65% loan value at 4.75% rate fixed for 5 years, 20 years amortization term.
Please see attached package for dull financials and additional information. Please do not disturb any of the current tenants, all showings must be done by discrete drive by only.

Re/Max 5 Star Realty
John DeMarco
(954) 361-0000

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