Broad Street Apartments | 371 Broad St
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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
|
Financial Summary (Pro forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,250,000 | Apartment Style | Low Rise |
| Price Per Unit | $78,125 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.71 AC |
| Cap Rate | 6.76% | Building Size | 5,560 SF |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1947 |
| Property Subtype | Apartment | Parking Ratio | 2.7/1,000 SF |
| 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 | $252,846 (2023) |
| Land Assessment | $68,640 (2023) | Total Assessment | $409,212 (2023) |
PROPERTY TAXES
Parcel Number
R36-223-18-2690-0200-0060
Land Assessment
$68,640 (2023)
Improvements Assessment
$252,846 (2023)
Total Assessment
$409,212 (2023)
zoning
| Zoning Code | MF |
| MF |
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Broad Street Apartments | 371 Broad St
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