Broad Street Apartments 371 Broad St

16 Unit Apartment Building $1,250,000 ($78,125/Unit) 6.76% Cap Rate Masaryktown, FL 34604

INVESTMENT HIGHLIGHTS

  • Only multifamily community located in southern Hernando County community of Masaryktown
  • Highly visible location on US-41, a primary north-south route with 16,100 vehicles per day
  • 2.6 Miles to Publix Super Market at Shoppes at Avalon
  • Concrete block construction
  • Walkable location with several restaurants and Dollar General in immediate proximity
  • 15 minutes to Downtown Brooksville, the county seat of Hernando County

EXECUTIVE SUMMARY

16-unit multifamily community in Brooksville, Florida’s Masaryktown community (Greater Tampa Bay Area). More than $100,000 in recent capital improvements, including newly renovated units, systems upgrades and fresh paint. All units recently renovated with new vinyl plank flooring, countertops and appliances. 23.24% increase in Effective Gross Income achievable by end of Year Two. $103,299 average household income within a two-mile radius.

FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access

ANNUAL ANNUAL PER SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes - -
Operating Expenses - -
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

PROPERTY FACTS

Price $1,250,000
Price Per Unit $78,125
Sale Type Investment
Cap Rate 6.76%
No. Units 16
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.71 AC
Building Size 5,560 SF
No. Stories 2
Year Built 1947
Parking Ratio 2.7/1,000 SF

UNIT AMENITIES

  • Heating
  • Kitchen
  • Tub/Shower

SITE AMENITIES

  • Maintenance on site

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
Studios 14 - 300
1+1 1 - 500
2+2 1 - 900

PROPERTY TAXES

ZONING

Zoning Code MF
  • Listing ID: 33058669

  • Date on Market: 9/4/2024

  • Last Updated:

  • Address: 371 Broad St, Masaryktown, FL 34604