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 |
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PROPERTY TAXES
| Parcel Number | R36-223-18-2690-0200-0060 | Improvements Assessment | $308,201 (2024) |
| Land Assessment | $68,640 (2024) | Total Assessment | $422,815 (2024) |
ZONING
| Zoning Code | MF |
