17 Units 2414 Johnson Street - LoopNet€¦ · $6,056 $6,748 $114,711 DSCR 1.64 DSCR 1.38 $82,915...

17 Units | 2414 Johnson Street Hollywood, FL 33020

Exclusively Listed By: Elliot ShainbergManaging PartnerDirect:[email protected] MSP Group LLC | 7480 Bird Road PH 830 Miami, FL 33155 | www.MSPGroup.com

Deme MekrasCEO, Managing PartnerDirect:[email protected]

17 Units | 2414 Johnson Street, Hollywood, FL 33020

MSP Group LLC | 7480 Bird Road PH 830 Miami, FL 33155 | www.MSPGroup.com

This is a confidential Offering Memorandum intended solely for your limited use and benefit in de-termining whether you desire to express further interest into the acquisition of the Subject Property. This Offering Memorandum contains selected information pertaining to the Property and does not purport to be a representation of state of affairs of the Owner or the Property, to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a pur-chase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition, and other factors beyond the control of the Owner or MSP Group ,LLC. Therefore, all projections, assumptions, and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approxima-tions. Additional information and an opportunity to inspect the Property will be made available to all interested and qualified prospective purchasers. Neither the Owner or MSP Group, LLC. , nor any of their respective directors, officers, affiliates or representatives are making any representation or warranty, expressed or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Offering Memorandum or use of its contents; and you are to rely solely on your own inves-tigations and inspections of the Property in evaluating a possible purchase of the real property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Offering Mem-orandum. The Owner shall have no legal commit-ment or obligation to any entity review-ing this Offering Memorandum or making an offer to purchase the Prop-erty unless and un-til written agreement(s) for the purchase of the Property have been fully executed, delivered, and approved by the Owner and any obligations therein have been satisfied or waived. By receipt of the Offering Memorandum, you agree that this Offering Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Offering Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or MSP Group, LLC. Furthermore , you agree not to use this Offering Mem-orandum or any of its con-tents in a manner detrimental to the interest of the Owner or MSP Group, LLC. In this Offering Memorandum, certain documents, including leases and other materials, are de-scribed in summary form. These summaries do not purport to be complete nor necessarily accu-rate descriptions of the full agreements referenced. Interested parties are so advised and expect-ed to review all such summaries and other documents of whatever nature independently and not to rely on `the contents of this Offering Memoran-dum in any manner.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MSP Group, LLC AGENT FOR MORE DETAILS

Confidentiality DisclaimerTable of Contents

Section 1.......................Property Description

Section 2...........................Financial Analysis

Section 3.........................Sales Comparables

Section 4..........................Rent Comparables

Section 5...........................About MSP Group



Property description

17 Units | 2414 Johnson Street, Hollywood, FL 33020 Property description

Address:City, State Zip:

County:Folio:Units:

Total Square Feet:Year Built:

Lot Size(Acres):# of Buildings:

# of Stories:Framing:

Exterior Wall:Roof Structure:Roof Covering:

HVAC:#Parking Spaces:

2414 Johnson StreetHollywood, FL 33020Broward5142-16-01-5140177,62319560.4812CBSPainted StuccoPitched and Flat WoodShingle and Built UpWall A/CAmple

2414 Johnson Street is a 17 unit multifamily property located in East Hollywood which is minutes east of I-95, 4 blocks west of US-1 and 1 block west of Dixie Highway. The property’s 17 units are comprised of three (3) 2 bedroom 1 bathroom units, six (6) 1 bedroom 1 bathroom units and eight (8) studio units all of which offer tenants and efficient use of space in a prime Hollywood location. A new roof was installed at this property within the past two years. Additionally, ten out of seventeen units have been renovated at this property with updated kitchens, bathroom and flooring.

The area has grown tremendously in the past few years with the inception in nearby Hollywood Beach of Margaritaville, Costa Hollywood Beach Resort, Circ Residences as well as other developments. Circ Residences is a newly built high-rise tower comprised of luxury rental units and hotel rooms across the street from ArtsPark at Young Circle in Downtown Hollywood. Additionally, a few minutes to the north is the proposed $800 million-dollar Dania Pointe project by Kimco boasting 800,000 SF of retail, shopping and restaurants. The units are also cen-trally located to US 1, A1A, and I-95. The new owner will benefit from an improved property with stable in place cash flow, in an area that is seeing tremendous growth and development.

PORTFOLIO OPPORTUNITY: This property may be purchased individually; however, it is part of a 90 unit portfolio, which can be purchased together as well.


17 Units | 2414 Johnson Street, Hollywood, FL 33020 neighborhood Aerial


Sheridan Street

Stirling Road

Hollywood Blvd

Hollywood

Beach

So

uth

Sta

te R

d 7

Pembroke Road

2414 Johnson Street

Integra Investments and Kimco $800mm Dania Pointe Mixed Use Development

Stiles 25-story mixed-use

project under construction

valued at $123 million

Young Circle Park

Portfolio


Sheridan Street

Stirling Road

Hollywood Blvd

So

uth

Sta

te R

d 7

Pembroke Road

1747 Funston Street

2414 Johnson Street

1823-43 Dewey Street

2414 Johnson St$1,825,000

17 units $107,353 price/unit

1823-43 Dewey St$4,950,000


1747 Funston St$695,000


Properties may be purchased separately or together.

1747 Funston Stdistance to 2414 Johnson St

Stiles 25-story mixed-use

project under construction

valued at $123 million

Integra Investments and Kimco $800m Dania Pointe Mixed Use Development

Young Circle Park

2305 Monroe St$1,525,000


2305 Monroe Street




Aerial



E Young Circle Park



S



N



financial analysis

17 Units | 2414 Johnson Street, Hollywood, FL 33020 Unit mix

Wtd AverageRent SF Rent Rent SF Rent Rent SF PF Gr$825 - $975 $900 $975 $995 2.05%

$880 - $1,075 $984 $1,075 $1,125 4.65%

$1,000 - $1,200 $1,125 $1,200 $1,300 8.33%

$970 $2.16 $1,050 $2.34 $1,095 $2.44 4.26%

$197,801 $223,320

Current Annual

Potential Rent

Pro Forma Annual

Potential Rent

17 7,623

Current Monthly

Potential Rent

Pro Forma Monthly

Potential Rent

$16,483 $18,610

3 2 Bed 1 Bath

8 Studio

6 1 Bed 1 Bath

Current Market Pro Forma# of Units Unit Type SF Rent Range

Studio, 47%

1 Bed 1 Bath, 35%

2 Bed 1 Bath, 18%


17 Units | 2414 Johnson Street, Hollywood, FL 33020 income and expense


List PriceDown Payment: 27% $492,750 $/Unit

Loan Amount: 73% $1,332,250 $/SFInterest Rate: 4.70%

Amortization Years: 1 Year I-O Cap RateDSCR/Debt Yield 1.64 7.73% 1.38 8.61%

Leveraged ReturnTotal Return

% Per Unit Per Unit Pro Forma$12,600 $13,136 $223,320

-7.66% ($965) ($751) ($12,760)1.51% $190 $190 $3,2250.56% $71 $71 $1,2000.00% $0 $0 $00.43% $55 $55 $930

$11,950 $12,701 $215,916-4.00% ($465) ($495) ($8,422)

$11,485 $12,205 $207,493

17.50% $2,009 $2,009 $34,1584.71% $541 $541 $9,2011.73% $199 $199 $3,3847.73% $887 $887 $15,0851.04% $119 $119 $2,0252.66% $306 $306 $5,2004.00% $459 $488 $8,3003.05% $350 $350 $5,9501.37% $158 $158 $2,6801.31% $150 $150 $2,5502.18% $250 $250 $4,250

47.27% $5,429 $5,458 $92,782

$6,056 $6,748 $114,711

DSCR 1.64 DSCR 1.38 $82,9158.19% 6.45% $31,796

$20,7428.19% 10.66% $52,538

Loan Assumptions

IncomeGross Potential Rent (GPR)

Loss to LeaseLaundry Income

Late Fees

6.45%

$3,225$1,200

($16,399)$214,200Current

$239Current Pro Forma 5.64% 6.29%

Effective Gross IncomeExpenses

TaxesInsurance

Water/SewerElectric

Natural Gas

Security Deposit Forfeitures

8.19%

($7,912)$203,156

$0

$3,384$9,201

$34,158

$195,244

Other Income $930

$40,336$0

$40,336$62,616

$102,952

$1,825,000$107,353

Total Return

ManagementRepairs and Maintenance

Contract ServicesGeneral and AdministrativeReserves & Replacements

Total Expenses

Net Operating Income (NOI)

Debt ServiceLeveraged ReturnPrincipal Paydown

Trash

Gross Potential Income (GPI)Vacancy

$5,950$7,810$5,200$2,025

$15,085

$92,292

$4,250$2,550$2,680

-4.00%

44.72%

1.23%2.05%

1.29%2.87%4.00%2.51%0.98%7.27%1.63%4.43%

16.46%

0.42%

8.19% 10.66%

0.54%1.44%-5.71%

%

0.00%



sales comparables

17 Units | 2414 Johnson Street, Hollywood, FL 33020 Sales comparables

2414 Johnson Street

Sunset Cove Apartments

Park Terrace

2324-2331 Adams Street

310 S 17th Avenue

2246 Fillmore Street

1710 Thomas Street

Country Club Apartments

Van Buren Apartments

2025 Madison Street

2022 Adams Street

2020 Washington Street

219-223 S 17th Avenue

930 N 14th Court

Park Hollywood


2612 Johnson Street

S1901 Johnson Street

2308 Monroe Street

1656 Polk Street

1

3

5

6

8

9

11

2

12

13

14

10

18

177

4

13

5

6

8

9

11

2

12

13

14

10

7

4

15

16

15

16

17

18

19

19



$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

$140,000

$160,000

Price Per Unit

$112,660

Average

$0.00

$50.00

$100.00

$150.00

$200.00

$250.00

$300.00

Price Per SF

$192.50

Average



2414 Johnson Street Price: $1,825,000 Price: $670,000 Price: $1,690,000Total Units: 17 Total Units: 6 Total Units: 14Price/Unit: $107,353 Price/Unit: $111,667 Price/Unit: $120,714

Year Built: 1956 Price/SF: $239 Year Built: 1942 Price/SF: $211 Year Built: 1966 Price/SF: $155Sale Date: On Market Sale Date: 6/12/2018 Sale Date: 6/8/2018Comments: Comments: Comments:

# Avg SF # Avg SF # Avg SF8 N/A 6 529 9 N/A6 N/A 5 N/A3 N/A

Total/Average 17 7,623 6 3,174 14 10,918

915 NE 8th StreetHollywood, FL 33020 Hollywood, FL 33020 Hallandale Beach, FL 33009

1 Bed 1 Bath

1745 Jefferson Street

Unit Type1 Bed 1 Bath

Sunset Cove Apartments Park Terrace

2 Bed 1 Bath

Unit TypeStudio

2 Bed 2 Bath

Unit Type1 Bed 1 Bath

Property has undergone significant interior renovations

and exterior improvements.

Average unit = 529 SF Average unit = 780 SF

Subject Sales Comparable 1 Sales Comparable 2



Price: $2,598,500 Price: $1,800,000 Price: $970,000Total Units: 26 Total Units: 12 Total Units: 10Price/Unit: $99,942 Price/Unit: $150,000 Price/Unit: $97,000

Year Built: 1963 Price/SF: $168 Year Built: 1932 Price/SF: $283 Year Built: 1956 Price/SF: $175Sale Date: 5/10/2018 Sale Date: 5/6/2018 Sale Date: 5/3/2018Comments: Comments: Comments:

# Avg SF # Avg SF # Avg SF2 N/A 7 N/A 1 40712 N/A 4 N/A 8 54012 N/A 1 N/A 1 815

Total/Average 26 15,512 12 6,353 10 5,542

2324-2331 Adams Street 310 S 17th Avenue 2246 Fillmore StreetHollywood, FL 33020 Hollywood, FL 33020 Hollywood, FL 33020

Unit Type Unit Type Unit TypeStudio Studio Studio

1 Bed 1 Bath 1 Bed 1 Bath 1 Bed 1 Bath2 Bed 1 Bath 3 Bed 2 Bath 2 Bed 1 Bath

Sales Comparable 3 Sales Comparable 4 Sales Comparable 5



Price: $1,385,000 Price: $3,500,000 Price: $2,500,000Total Units: 15 Total Units: 25 Total Units: 27Price/Unit: $92,333 Price/Unit: $140,000 Price/Unit: $92,593


# Avg SF # Avg SF # Avg SF15 470 25 862 13 N/A

13 N/A1 N/A

Total/Average 15 7,050 25 21,550 27 12,229

1710 Thomas Street Country Club Apartments Van Buren Apartments Hollywood, FL 33020 1515 S 14th Avenue 2222 Van Buren Street

Hollywood, FL 33020 Hollywood, FL 33020

Unit Type Unit Type Unit Type1 Bed 1 Bath N/A Studio

1 Bed 1 Bath2 Bed 1 Bath





Year Built: 1970 Price/SF: $179 Year Built: 1968/1973 Price/SF: $178 Year Built: 1926/1931 Price/SF: $206Sale Date: 2/23/2018 Sale Date: 12/15/2017 Sale Date: 12/14/2017Comments: Comments: Comments:

# Avg SF # Avg SF # Avg SF13 N/A 20 550 4 7313 N/A 12 736 8 750

Total/Average 16 11,700 32 17,554 12 7,034

2025 Madison Street 2022 Adams Street 2020 Washington StreetHollywood, FL 33020 Hollywood, FL 33020 Hollywood, FL 33020

Unit Type Unit Type Unit Type1 Bed 1 Bath 1 Bed 1 Bath 1 Bed 1 Bath2 Bed 1 Bath 1 Bed 1 Bath 1 Bed 1 Bath

Multi-property sale including 2025 Washington

Street.

Multi-property sale including 2205 Roosevelt

Street.





Year Built: 1932 Price/SF: $200 Year Built: 1965 Price/SF: $167 Year Built: 1952-1987 Price/SF: $245Sale Date: 11/3/2017 Sale Date: 10/5/2017 Sale Date: 8/31/2017Comments: Comments: Comments:

# Avg SF # Avg SF # Avg SF9 N/A 14 761 52 N/A1 N/A 34 N/A

Total/Average 10 5,997 14 10,654 86 33,440

219-223 S 17th Avenue 930 N 14th Court Park HollywoodHollywood, FL 33020 Hollywood, FL 33020 2635-2647 Lincoln Street

Hollywood, FL 33020

Unit Type Unit Type Unit Type1 Bed 1 Bath 1 Bed 1 Bath Studio2 Bed 2 Bath 1 Bed 1 Bath

Purchase price was $1,500,000, however the buyer is

investing approximately $20,000 per unit in capital

improvements that include interior renovations and

impact windows throughout.






# Avg SF # Avg SF # Avg SF12 314 12 650 4 N/A

4 N/A6 N/A

Total/Average 12 3,767 12 7,800 14 10,236

1 Bed 1 Bath2 Bed 1 Bath

Unit Type Unit Type Unit Type1 Bed 1 Bath 1 Bed 1 Bath Studio

Hollywood, FL 33020 Hollywood, FL 33020 Hollywood, FL 33020 1505 Washington Street 2612 Johnson Street 1901 Johnson Street




Price: $945,000 Price: $1,875,000 Price: $1,550,000Total Units: 8 Total Units: 16 Total Units: 14Price/Unit: $118,125 Price/Unit: $117,188 Price/Unit: $110,714


# Avg SF # Avg SF # Avg SF5 N/A 8 450 4 N/A3 N/A 8 900 4 N/A

6 N/A

Total/Average 8 6,436 16 10,575 14 10,236

2 Bed 1 Bath 1 Bed 1 Bath 1 Bed 1 Bath 2 Bed 1 Bath

Unit Type Unit Type Unit Type1 Bed 1 Bath Studio Studio

Hollywood, FL 33020 Hollywood, FL 33020 Hollywood, FL 33020 2308 Monroe Street 1656 Polk Street





Rent comparables

17 Units | 2414 Johnson Street, Hollywood, FL 33020 rent comparables

2414 Johnson Street

820 N 24th Avenue

2521 Lincoln Street

2537 Lincoln Street

2612 Johnson Street

2335 Polk Street

2700 Johnson Street

2401 Van Buren Street

2225 Van Buren Street

912-918 N 18th Court

2308 Monroe Street

2019 Jackson Street

The Galleon

Golfview Hollywood

1754 Funston Street

1740 Funston Street


820 N 19th Avenue

1823-43 Dewey Street

2305 Monroe Street

1

3

5

6

8

9

2

7

4

13

5

6

8

9

11

2

12

13

14

10

7

4

10

11

12

13

14

15

16

17

16

17

18

19

1518

19



0%10%20%30%40%50%60%70%80%90%

100%

Occupancy Rate98%

Average

0100200300400500600700800900

1,000

Average Unit Size

671

Average

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

Average Rent

$1,050

Average

$0.00

$0.50

$1.00

$1.50

$2.00

$2.50

$3.00

Average Rent Per SF

$1.62Average


17 Units | 2414 Johnson Street, Hollywood, FL 33020 Rent Sort - Asking rent

Unit Type 1 Unit Type 2Property Name Unit Type # SF Asking Rent Rent/SF Property Name Unit Type # SF Asking Rent Rent/SF2414 Johnson Street PF Studio 8 N/A $995 N/A 2019 Jackson Street 1 Bed 1 Bath 21 659 $1,250 $1.901823-43 Dewey Street Studio 47 N/A $975 N/A 2414 Johnson Street PF 1 Bed 1 Bath 6 N/A $1,125 N/A2225 Van Buren Street Studio N/A N/A $950 N/A 2247 Washington Street 1 Bed 1 Bath N/A 750 $1,100 $1.472305 Monroe Street Large Studio 9 N/A $950 N/A 2305 Monroe Street 1 Bed 1 Bath 3 N/A $1,100 N/A2414 Johnson Street Studio 8 N/A $900 N/A 2308 Monroe Street 1 Bed 1 Bath 5 N/A $1,075 N/A2305 Monroe Street Studio 2 N/A $860 N/A 2612 Johnson Street 1 Bed 1 Bath 12 650 $1,050 $1.622521 Lincoln Street Studio N/A 380 $750 $1.97 2401 Van Buren Street 1 Bed 1.5 Bath 4 720 $1,050 $1.462401 Van Buren Street Studio 1 300 $750 $2.50 2225 Van Buren Street 1 Bed 1 Bath N/A N/A $1,025 N/A

340 $891 $2.24 1754 Funston Street 1 Bed 1.5 Bath N/A 815 $1,025 $1.26820 N 24th Avenue 1 Bed 1 Bath N/A N/A $1,000 N/A

Unit Type 3 2401 Van Buren Street 1 Bed 1 Bath 16 545 $1,000 $1.83Property Name Unit Type # SF Asking Rent Rent/SF 820 N 19th Avenue 1 Bed 1 Bath 4 578 $985 $1.701740 Funston Street 2 Bed 1 Bath 1 N/A $1,400 N/A 2414 Johnson Street 1 Bed 1 Bath 6 N/A $984 N/A2308 Monroe Street 2 Bed 1 Bath 3 N/A $1,365 N/A 2537 Lincoln Street 1 Bed 1 Bath 19 702 $975 $1.392401 Van Buren Street 2 Bed 2 Bath 8 815 $1,350 $1.66 The Galleon 1 Bed 1 Bath 8 591 $975 $1.652019 Jackson Street 2 Bed 1 Bath 1 659 $1,325 $2.01 Golfview Hollywood 1 Bed 1 Bath 88 690 $975 $1.411754 Funston Street 2 Bed 2 Bath N/A 980 $1,325 $1.35 1740 Funston Street 1 Bed 1 Bath 13 600 $975 $1.632414 Johnson Street PF 2 Bed 1 Bath 3 N/A $1,300 N/A 1823-43 Dewey Street 1 Bed 1 Bath 2 N/A $900 N/A820 N 24th Avenue 2 Bed 1 Bath N/A N/A $1,300 N/A 2700 Johnson Street 1 Bed 1 Bath 17 N/A $900 N/A912-918 N 18th Court 2 Bed 2 Bath 8 960 $1,300 $1.35 2521 Lincoln Street 1 Bed 1 Bath N/A 750 $850 $1.132247 Washington Street 2 Bed 1 Bath N/A N/A $1,300 N/A 2335 Polk Street 1 Bed 1 Bath 11 605 $850 $1.401823-43 Dewey Street 2 Bed 1 Bath 2 N/A $1,300 N/A 2019 Jackson Street 1 Bed 1 Bath 1 350 $850 $2.432700 Johnson Street 2 Bed 1 Bath 2 N/A $1,250 N/A 643 $1,001 $1.592521 Lincoln Street 2 Bed 2 Bath N/A 900 $1,200 $1.332414 Johnson Street 2 Bed 1 Bath 3 N/A $1,125 N/A2521 Lincoln Street 2 Bed 1 Bath N/A 850 $1,050 $1.24

Average 861 $1,278 $1.49

Average

Average



Total Units: 17 Total Units: 10 Total Units: 34Occupancy: 100% Occupancy: 100% Occupancy: N/AYear Built: 1956 Year Built: 1975 Year Built: 1970

Comments: Comments: Comments:

Unit Type # Avg SF Rent Rent/SF Unit Type # Avg SF Rent Rent/SF Unit Type # Avg SF Rent Rent/SFStudio 8 N/A $900 N/A 1 Bed 1 Bath N/A $1,000 N/A Studio 380 $750 $1.97

1 Bed 1 Bath 6 N/A $984 N/A 2 Bed 1 Bath N/A $1,300 N/A 1 Bed 1 Bath 750 $850 $1.132 Bed 1 Bath 3 N/A $1,125 N/A 2 Bed 1 Bath 850 $1,050 $1.24

2 Bed 2 Bath 900 $1,200 $1.33

Total/Average 17 448 $970 $2.16 10 782 $1,150 $1.47 34 720 $963 $1.34

2414 Johnson Street Hollywood, FL 33020

820 N 24th Avenue Hollywood, FL 33020

2521 Lincoln StreetHollywood, FL 33020

Rent includes water. Rent includes water. Rent includes water.

Subject Rent Comparable 1 Rent Comparable 2Subject Rent Comparable 1 Rent Comparable 2


17 Units | 2414 Johnson Street, Hollywood, FL 33020 Rent comparables

Total Units: 19 Total Units: 12 Total Units: 11Occupancy: N/A Occupancy: N/A Occupancy: 95%Year Built: 1968 Year Built: 1985 Year Built: 1952


Unit Type # Avg SF Rent Rent/SF Unit Type # Avg SF Rent Rent/SF Unit Type # Avg SF Rent Rent/SF1 Bed 1 Bath 19 702 $975 $1.39 1 Bed 1 Bath 12 650 $1,050 $1.62 1 Bed 1 Bath 11 605 $850 $1.40

Total/Average 19 702 $975 $1.39 12 650 $1,050 $1.62 11 605 $850 $1.40

Hollywood, FL 33020 Hollywood, FL 33020 Hollywood, FL 330202537 Lincoln Street 2612 Johnson Street 2335 Polk Street

Rent includes water. Rent includes water. Rent includes water.

Rent Comparable 3 Rent Comparable 4 Rent Comparable 5



Total Units: 19 Total Units: 29 Total Units: 12Occupancy: 95% Occupancy: 99% Occupancy: 95%Year Built: 1968 Year Built: 1987 Year Built: 1961


Unit Type # Avg SF Rent Rent/SF Unit Type # Avg SF Rent Rent/SF Unit Type # Avg SF Rent Rent/SF1 Bed 1 Bath 17 N/A $900 N/A Studio 1 300 $750 $2.50 Studio N/A $950 N/A2 Bed 1 Bath 2 N/A $1,250 N/A 1 Bed 1 Bath 16 545 $1,000 $1.83 1 Bed 1 Bath N/A $1,025 N/A

1 Bed 1.5 Bath 4 720 $1,050 $1.46 `2 Bed 2 Bath 8 815 $1,350 $1.66

Total/Average 19 628 $937 $1.49 29 635 $1,095 $1.72 12 610 $988 $1.62

Hollywood, FL 33020 Hollywood, FL 33020 Hollywood, FL 33020 2700 Johnson Street 2401 Van Buren Street 2225 Van Buren Street

Rent includes water. Rent includes water. 1 Bed 1 Bath units rent from $875 to

$1,000. 2 Bed 2 Bath units range from $1,050 to $1,350.

Rents are from 2401 Van Buren Street and 2435 Van

Buren Street.

Tenant pays water and electricity. Below rents have been

adjusted by $50 to reflect water usage.






Unit Type # Avg SF Rent Rent/SF Unit Type # Avg SF Rent Rent/SF Unit Type # Avg SF Rent Rent/SF2 Bed 2 Bath 8 960 $1,300 $1.35 1 Bed 1 Bath 5 N/A $1,075 N/A 1 Bed 1 Bath 1 350 $850 $2.43

2 Bed 1 Bath 3 N/A $1,365 N/A 1 Bed 1 Bath 21 659 $1,250 $1.902 Bed 1 Bath 1 659 $1,325 $2.01

Total/Average 8 960 $1,300 $1.35 8 805 $1,184 $1.47 23 646 $1,236 $1.91

912-918 N 18th Court 2308 Monroe Street 2019 Jackson Street Hollywood, FL 33020 Hollywood, FL 33020 Hollywood, FL 33020

Rent includes water. Rent does not include water. Below rents have been

adjusted by $50 and $65 for 1 and 2 bedroom units to

reflect water usage.

Rent includes water. 1 Bed 1 Bath units at 659 SF range

from $1,000 to $1,250.






Unit Type # Avg SF Rent Rent/SF Unit Type # Avg SF Rent Rent/SF Unit Type # Avg SF Rent Rent/SF1 Bed 1 Bath 8 591 $975 $1.65 1 Bed 1 Bath 88 690 $975 $1.41 1 Bed 1.5 Bath N/A 815 $1,025 $1.26

2 Bed 2 Bath N/A 980 $1,325 $1.35

Total/Average 8 591 $975 $1.65 88 690 $975 $1.41 27 898 $1,163 $1.30

The Galleon Golfview Hollywood 1754 Funston Street 312 N 17th Avenue 1777 Polk Street Hollywood, FL 33020 Hollywood, FL 33020 Hollywood, FL 33020

Rent includes water. Rent includes water. Rent includes water. 100% occupancy with a waiting list.

The 2 Bed 2 Bath rent ranges from $1,275 - $1,325.




Total Units: 14 Total Units: 18 Total Units: 4Occupancy: 100% Occupancy: N/A Occupancy: 100%Year Built: 1977 Year Built: 1968 Year Built: 1955


Unit Type # Avg SF Rent Rent/SF Unit Type # Avg SF Rent Rent/SF Unit Type # Avg SF Rent Rent/SF1 Bed 1 Bath 13 600 $975 $1.63 1 Bed 1 Bath N/A 750 $1,100 $1.47 1 Bed 1 Bath 4 578 $985 $1.702 Bed 1 Bath 1 N/A $1,400 N/A 2 Bed 1 Bath N/A N/A $1,300 N/A

Total/Average 14 618 $1,005 $1.63 18 814 $1,175 $1.44 4 578 $985 $1.70

Hollywood, FL 33020 Hollywood, FL 33020 Hollywood, FL 33020 1740 Funston Street 2247 Washington Street 820 N 19th Avenue

Rent includes water. 2 Bed 1 Bath rent ranges from $1,200 - $1,300. Rent includes water.




Total Units: 51 Total Units: 14 Total Units: 100Occupancy: 95% Occupancy: 100% Occupancy: 95%Year Built: 1949-52 Year Built: 1967 Year Built:


Unit Type # Avg SF Rent Rent/SF Unit Type # Avg SF Rent Rent/SF Unit Type # Avg SF Rent Rent/SFStudio 47 N/A $975 N/A Small Studio 2 N/A $860 N/A Studio 25 400 $525 $1.31

1 Bed 1 Bath 2 N/A $900 N/A Large Studio 9 N/A $950 N/A 1 Bed 1 Bath 25 500 $625 $1.252 Bed 1 Bath 2 N/A $1,300 N/A 1 Bed 1 Bath 3 N/A $1,100 N/A 2 Bed 1 Bath 25 650 $725 $1.12

2 Bed 2 Bath 25 750 $825 $1.100 0 0 $0 #DIV/0!0 0 0 $0 #DIV/0!0 0 0 $0 #DIV/0!0 0 0 $0 #DIV/0!0 0 0 $0 #DIV/0!0 0 0 $0 #DIV/0!0 0 0 $0 #DIV/0!0 0 0 $0 #DIV/0!0 0 0 $0 #DIV/0!

#DIV/0!Total/Average 51 354 $985 $2.78 14 458 $969 $2.12 100 575 $675 $1.17

1823-43 Dewey Street 2305 Monroe Street Property Name/AdrdressHollywood, FL 33020 Hollywood, FL 33020 Address

City, State , Zip

Rent includes water. Rent includes water. This is where to make the comments





about msp group

MSP Group LLC | 7480 Bird Road, PH 830, Miami, FL 33155 | www.MSPGroup.com| Follow Us

About MSP Group

Integrity | Service | ResultsTo date, the duo of Deme Mekras and Elliot Shainberg have closed nearly $700,000,000 and more than 10,000 units in their careers. Deme and Elliot each began their professional careers in different parts of the country and in different industries, but both began in sales. They learned that hard work and tenacity lead to results. While Deme was selling telecommunications services to small businesses in Miami, Elliot sold payroll solutions to small and medium sized businesses in New York City. Both recent college gradu-ates, they spent their days pounding the phones, beating the pavement and literally knocking on doors.

After proving themselves in competitive markets, they turned their attention to real estate, which quickly became their passion. When they each entered the real estate business, neither knew the other existed, but both were hun-gry to learn and develop. This ambition and thirst for knowledge lead them to entry level positions at Marcus & Millichap, one of the world’s largest commercial brokerage houses. Elliot started with Marcus & Millichap in New York and Deme in Ft. Lauderdale. Shortly after marrying his wife, a South Florida native, Elliot moved to South Florida and joined the Ft. Lauderdale office. Deme and Elliot spent the next 10 years at the firm, earning numer-

ous sales awards, receiving several promotions and helped found the Miami office prior to their departure in 2012.

In late 2012, Deme was recruited at the partner level to join Franklin Street, based in Tampa. Deme agreed to open the firm’s Miami office and did so by bringing his team of 4 professionals over with him. Over the next two years, Deme and Elliot established the firm’s brand in the South Florida multifamily sales arena by closing more than $150,000,000 in deals. Despite their suc-cess at Franklin Street, the time had come for them to spread their wings and launch their own enterprise. In 2015, Deme and Elliot founded MSP Group and were off to the races.

They set out to make MSP Group the most trusted brand in South Florida commercial real estate. To accomplish their mission, they needed a plat-form that would allow them to truly serve their clients, free from conflicting corporate agendas and toxic work environments. Having left all of the in-fighting, office politics and bureaucracy behind, Deme and Elliot were free to focus on what they do best…Delivering best-in-class results for their clients!

MSP Group LLC is South Florida’s Premier Commercial Real Estate Brokerage House.


Team Biographies

Deme is the visionary and Chief Executive Officer at MSP Group. He is an expert in the multifamily arena and has closed nearly 10,000 units in his career as well as numerous commercial proper-ties and developable land. A dedicated specialist, Deme has a firm command over all aspects of the multifamily business and enjoys a stellar reputation in the market.

A Miami native, Deme grew up in the areas of Coral Gables and Coconut Grove. He attended Ransom Everglades middle and high schools before graduating from Coral Gables Senior High. He then attended Southern Methodist University (SMU) where he earned his Bachelors in Business Administration, majoring in Organiza-tional Behavior and Business Policy with a double minor in Span-ish and Latin American Studies. Deme is fluent in Spanish which vastly enhances his relationship with his Latin American clientele.

After finishing at SMU in Dallas, Deme returned home to Miami to begin his professional career. He gained valuable experience in a variety of industries ranging from aviation to telecom. During his time as a salesperson in the telecom industry, Deme’s determina-tion and tenacity made him a consistent performer. His last sales position in the tech world was at MCI/Worldcom. Fortunately, he had earned his salespersons license in 2001 and closed his first commercial real estate transaction just as the dot com crash was unfolding.

Having closed the telecom chapter of his career, Deme pursued his calling in the real estate business. After a brief stint at CBRE, he joined the ranks at Marcus & Millichap in Ft. Lauderdale, where he earned the esteemed Rookie of the Year award in 2003. Later he became a founding member of the firm’s Miami office which opened in 2005. Prior to his departure from Marcus & Millichap in 2012, Deme was recognized by the firm numerous times for his performance, including receiving the prestigious National Sales Achievement Award multiple times and earning the title of Vice President of Investment Sales.

He was pulled away from Marcus & Millichap in late 2012 after being recruited at the partner level to join Franklin Street. Deme brought his entire team with him and opened Franklin Street’s Mi-ami office. Over the next 2 years, they put the previously un-recog-nized brand on the map in South Florida by closing $150,000,000 in deals under the Franklin Street flag.

An entrepreneur at heart, going out on his own was a natural evolution for Deme. In March of 2015, Deme and co-founder, Elliot Shainberg, launched MSP Group. Through their hard work and an unwavering commitment to their founding principles, the company surpassed $100,000,000 in sales and closed over 900 units in the first full calendar year; and the rest is history…in the making!

Southern Methodist University• BBA in Organizational Behavior and Business Policy, 1998• Double Minor Spanish and Latin American Studies• Licensed Real Estate Broker - Florida

• Surpassed $600 Million in Closed Deals• Nearly 10,000 units Closed• Power Leader - South Florida Business Journal, 2014• Sales Achievement Award - Franklin Street, 2014• Company Sales Plaque—Marcus & Millichap, 2005,2006, 2012• Seven-Figure Club—Marcus & Millichap, 2009-2012

Deme Mekras - CEO, Managing Partner

Education Sales Achievements / Awards

Deme MekrasCEO, Managing Partner

(786) 208-2684 – Mobile(786) 671-0149 – Direct

[email protected]


Team Biographies

Elliot is a Co-Founder and Managing Partner of MSP Group. He has been in the multifamily business in South FL since late 2003 and has closed on the sale of nearly 7,000 multifamily and frac-tured condominium units in his career. Dedicat-ed to maximum performance for their clients, Elliot and his business partner Deme Mekras, have built a reputation on putting their Clients’ need first and foremost while being aggressive and creative deal makers. A Los Angeles, California native, Elliot also spent time living in the New York City area prior to moving to South Florida with his wife in 2003. He attended Yeshiva University in New York City where he earned his Bachelor degree, majoring in Political Science.

Prior to getting into the real estate business Elliot received multi-ple sales achievement awards selling payroll related services for Compupay in Midtown Manhattan from 1999 to 2002. In 2003 and while still in New York, he entered the real estate industry and gained valuable experience in property management and then multifamily investment sales for Marcus and Millichap. Elliot transferred to the firm’s Ft. Lauderdale office in 2003, where he focused on multifamily sales in Dade and Broward counties. Later he became a founding member of the firm’s Miami office which opened in 2005 and was the firm’s top selling multifamily agent in their Miami office during the economic downturn of 2009, again proving his mettle.

He was pulled away from Marcus & Millichap in late 2012 after be-ing recruited with Deme Mekras to join Franklin Street. Elliot and Deme put the previously unrecognized brand on the map in South Florida by closing $150,000,000 in deals under the Franklin Street flag between January 2013 and March of 2015.

With 12 years of experience under his belt from large and mid-size commercial real estate firms the next logical step for Elliot’s career was to co-found MSP Group, which he did in 2015. Since opening MSP Group, Elliot and Deme have flourished and repeatedly take business from national and global competitors by cherishing their client relationships and leveraging their deep market knowledge. Their work ethic and commitment to their clients is punctuated by the more than $100,000,000 and 900 units in closed deals achieved in the first full calendar year since MSP Group launched in 2015. The future is bright at MSP Group as the firm continues to build on its core principals of success!

Yeshiva University• BA in Political Science• Licensed Real Estate Salesperson - Florida

• Surpassed $370 Million in career closings• Nearly 7,000 Units Closed• Sales Achievement Award - Franklin Street, 2014• #1 Agent Marcus & Millichap Miami Office—2009

Education Sales Achievements / Awards

Elliot ShainbergManaging Partner

(917) 992-6189 – Mobile(786) 671-0151 – Direct

[email protected]

Elliot Shainberg - Managing Partner


Team Biographies

In addition to being a founding member of MSP Group, Sam was instrumental in developing MSP Group’s proprietary financial mod-els, proposal templates and marketing materials. As MSP Group has progressed out of the start-up phase, Sam is an integral part of the MSP Group sales team, focusing on multifamily properties between 10 and 50 units in South Florida.

While Sam was born in Durham, North Carolina, he returned to his family roots, moving to Miami just before Hurricane Andrew in 1992. Both of Sam’s parents being Miami natives and strong family ties brought them back to Miami. Sam grew up in the South Miami area, attending Kenwood K-8 Center and later graduated from Florida Christian School.

He then went on to study at Florida International University (FIU) where he earned a Bachelors of Business Administration, majoring in Finance. Sam completed his post graduate studies at FIU and obtained a Master of Science in Finance; earning a 3.8 grade point average while shouldering a full time work load as a Senior Analyst at Franklin Street.

Prior to Franklin Street, Sam began his real estate career with a brief stint at Marcus & Millichap, assisting MSP Group CEO, Deme Mekras in all business functions. Sam logged a combined 3 years at Marcus & Millichap and Franklin Street, where he gained valu-able experience, underwriting close to $500,000,000 of multifamily properties and helping to fa-cilitate the teams’ pipeline of closings. Sam’s integrity, knowledge of finance, mastery of Microsoft Excel and rigorous work ethic make him an invaluable asset to MSP Group.

Florida International University• Master Science of Finance, 2014• BBA in Finance, 2013• Licensed Real Estate Salesperson - Florida

Education

Sam MekrasInvestment Associate

(786) 417-3709 – Mobile(786) 671-0154 – Direct

[email protected]

Sam Mekras - Investment Associate


Our Team

Deme MekrasCEO, Managing Partner

Cristy FranyieTransaction and Marketing Coordinator

Sam MekrasInvestment Associate

Elliot ShainbergManaging Partner

Eddie BustamanteFinancial Analyst


Our Advantage

Integrity | Service | Results Sales Volume

Specialization | Expert Analysis

The three pillars of INTEGRITY | SERVICE | RESULTS are the foundation on which MSP Group was born and the philosophy that every member of our team is committed to. MSP Group’s success is obviously not due to our size, but rather an unwavering commitment to our mantra that “the Client’s agenda is the ONLY agenda.”

MSP Group founders, Deme Mekras and Elliot Shainberg, share their deep experience, market knowledge and industry relationships with their clients. Over the last 14 years, they have closed more than $700,000,000 and 10,000 units in multifamily sales.

MSP Group Clients benefit from expert valuations because we are multifamily specialists. We are acutely aware of market trends, submarket nuances and most importantly, current buyer demand. Our extensive network of active buy-ers, deep relationships with local, regional and national lenders all contribute to our ability to get even the toughest of deals closed.

$700

,000

,000

10,0

00

$ Volume Closed # of Units Sold


Lender Network

Unlike Our Competitors Msp Group’s Wide Ranging Investor Pool

We pride ourselves on demonstrating genuine care about our Clients’ individ-ual circumstances and objectives. Whether you are a private investor or a billion dollar fund manager, MSP has the knowledge and experience to ser-vice your business. Because our approach is a holistic one, we understand that “sell now” isn’t always the best answer (when’s the last time you heard a broker say that!?!?).

MSP Group maintains relationships with many local, regional, and national lenders that play a critical role in the liquidity of the apartment market.

How We Get Maximum Results

Over the last 15 years MSP Group founders, Deme Mekras and Elliot Shain-berg, have closed more than $650,000,000 and 9,800 units in multifamily sales. MSP Group’s unmatched work ethic and experience consistently de-livers best-in-class results to our Clients. Tailoring eachmarketing campaign to the subject Property and specific Client needs, we cast as wide of a net as possible to ensure market exposure that spans the globe and leaves no stone unturned.

25% 56%

19%

Out of State Local

International


Global Reach

The client’s agendaIs the only agenda

MSP Group maintains relationships with many local, regional, and national lenders that play a critical role in the liquidity of the apartment market.

Client’s Agenda

We broadly expose our listings to the market and often proactively market to the outside brokerage community. Many of our competitors keep their inventory in house and don’t expose it to the broader market. Some of them will tell you they “cooperate”, but what they don’t tell you is that they make cooperating brokers jump through hoops and divulge personal information about their Buyer before releasing information about the opportunity. This tactic helps our competitors keep more Seller-paid commissions in the pockets of the listing broker, but this is at the expense of the very Client they are supposed to be serving! At MSP Group, the Client’s agenda is the ONLY Agenda!


Client’s Testimonials

Both Deme and Elliot are extremely diligent and professional and

know how to get deals closed.

Freddy SayeghFreshwater Group LLC

Their tenacity and commitment to their

client...

David S. AllenRealty Financial Partners

We wanted to thank you for your guidance, patience

and proffesionalism in getting the deal done.

Andrew GordonStratford Management

A testament to your determined,

professional effort for which I am grateful.

Gary A. Tave, P.E.Managing Member

Deme and his staff went far above and

beyond the call of duty.

Howard E. Kurzweil, ESQ

I could not imagine a better person to

deal with than Deme Mekras.

Carlos ToscaPalmCorp Development

They promised us more value and they delivered. Our experience working with the MSP Group has

been exceptional.Sebastian Barbagallo

B&L Management Group

Deme is a rarity on the South Florida Real

Estate scene.

Elizabeth SargentSouth Florida Living

READ LETTER

READ LETTER

READ LETTER

READ LETTER

READ LETTER

READ LETTER

READ LETTER

READ LETTER


Available Deals

Hollywood Portfolio

Eureka Development Site Miami

2414 Johnson Street Hollywood

1823-43 Dewey Street Hollywood

Allapattah Development Site Miami

2305 Monroe Street Hollywood

Units:90

Units:178

Units:17

Units:51

Units:102

Units:14

Year Built:Multiple

Year Built:TBD

Year Built:1956

Year Built:1949-52

Year Built:TBD

Year Built:1966

Price per Unit:$99,944






Price:$8,995,000

Price:$4,250,000

Price:$1,825,000

Price:$4,950,000

Price:$2,850,000

Price:$1,525,000


Available Deals

435 SW 9th Ave Homestead 1747 Funston Street Hollywood

190 NW 68th Terrace Miami

Units:16

Units:8

Units:4

Year Built:1955-56

Year Built:1952

Year Built:1926




Price:$1,350,000

Price:$695,000

Price:$425,000


Closed Deals

Avesta Portfolio Florida

Palm Terrace Hollywood

Hialeah Portfolio Hialeah

Sunset Palms Davie

Southwood Miami

Palm Gardens Wilton Manors

Units:2,199

Units:192

Units:161

Units:318

Units:144

Units:163

Year Built:Multiple

Year Built:1968

Year Built:1958-1968

Year Built:1975

Year Built:1979

Year Built:1969







Price:$81,363,000

Price:$19,550,000

Price:$14,100,000

Price:$38,500,000

Price:$14,185,000

Price:$14,100,000

CLOSED

CLOSED

CLOSED

CLOSED

CLOSED

CLOSED

*Partial list of closed deals


Closed Deals

Miller Lake Miami

Kimberly North Lauderdale

Grand Island II & III North Miami Beach

Vizcaya Villas Tamarac

Noden Miami

Monserratt Miami

Units:78

Units:100

Units:110

Units:129

Units:94

Units:120

Year Built:1970

Year Built:1960

Year Built:1959-69

Year Built:1990

Year Built:1968-70

Year Built:2000







Price:$12,450,000

Price:$11,900,000

Price:$11,000,000

Price:$12,350,000

Price:$11,400,000

Price:$10,410,000

CLOSED

CLOSED

CLOSED

CLOSED

CLOSED

CLOSED



Closed Deals

1105 W 76th Street Hialeah

Sovereign Bank Portfolio Florida

Intermex Miami

Windward Lakes Pompano Beach

Sabal Pointe Condos Palm Springs

Autumn Chase Condos Largo

Units:76

Units:367

SF:25,420

Units:104

Units:117

Units:124

Year Built:1968

Year Built:Multiple

Year Built:1994

Year Built:1992

Year Built:1973

Year Built:1975



Price per SF:$294




Price:$10,400,000

Price:$9,000,000

Price:$7,474,000

Price:$9,600,000

Price:$8,190,000

Price:$7,431,956

CLOSED

CLOSED

CLOSED

CLOSED

CLOSED

CLOSED



Closed Deals

Shady Oaks St. Petersburg

Miami D Miami Gardens

Amanda Palms Hialeah

78 Unit Portfolio Miami Springs

Jaclyn Hialeah

Continental Springs Miami Springs

Units:189

Units:112

Units:67

Units:78

Units:72

Units:55

Year Built:1972

Year Built:1972

Year Built:1988

Year Built:Multiple

Year Built:1970

Year Built:1966







Price:$7,100,000

Price:$6,050,000

Price:$5,300,000

Price:$6,300,000

Price:$6,050,000

Price:$5,300,000

CLOSED

CLOSED

CLOSED

CLOSED

CLOSED

CLOSED



Closed Deals

Del Rio Miami

Crespi Waterfront Miami Beach

Summertree Green Tampa

Greenview Tamarac Tamarac

Galaxy Miami

Southwood Miami

Units:77

Units:24

Units:90

Units:129

Units:48

Units:74

Year Built:1963

Year Built:1969

Year Built:1983

Year Built:1990

Year Built:1972

Year Built:1966







Price:$4,620,000

Price:$4,300,000

Price:$3,850,000

Price:$4,515,000

Price:$4,000,000

Price:$3,039,550

CLOSED

CLOSED

CLOSED

CLOSED

CLOSED

CLOSED


/ MSPGroup

P +1 (786) 671-0155MSP Group LLC | 7480 Bird Road, PH 830, Miami, FL 33155 | www.MSPGroup.com

E [email protected]| F +1 (786) 364-1577 |

17 Units 2414 Johnson Street - LoopNet€¦ · $6,056 $6,748 $114,711 DSCR 1.64 DSCR 1.38 $82,915...

Documents

Transcript of 17 Units 2414 Johnson Street - LoopNet€¦ · $6,056 $6,748 $114,711 DSCR 1.64 DSCR 1.38 $82,915...