Rustic Manors

Lauren Coloney Commercial Sales Associate

P: 954.564.4666 | laurencoloney@gmail.com

FOR MORE INFORMATION, PLEASE CONTACT:Lauren Coloney Commercial Sales Associate / P: 954.564.4666 / C: 954.604.1001 / laurencoloney@gmail.com

Niki Falck Commercial Sales Associate / P: 954.732.4058 / C: 954.732.4058 / nikifalck@gmail.com

FOR MORE INFORMATION, PLEASE CONTACT:

50 SE 12th Street , Fort Lauderdale, FL 33316

Keyes Commercial1520 E. Sunrise Blvd

Fort Lauderdale, FL 33304P: 954.564.4666

www.keyescommercial.com

This information has been secured from sources we believe to be reliable, but we make no representations nor warranties, express nor implied as to the accuracy of theinformation. References to square footage are approximate.Buyer must verify the information and bears all risks for any inaccuracies. 2

Sale Price: $3,999,000

Building Size: 10,173 SF

Lot Size: 21,130 SF

Number Of Units: 24

Price / SF: $393.10

Cap Rate: 4.28%

NOI: $171,328

Year Built: 1973

Zoning: SRAC-SAe

OFFERING SUMMARY PROPERTY OVERVIEW

24 unit apartment building on Davie Boulevard and Andrews Avenue. 23 one bed/one bathroom apartment and one two bed/one bathroom apartment. Pool andlaundry on site. All tenants on annual leases. Great potential for value addopportunity with renovations to units. Two blocks from Broward General. ZonedSRAC-Sae, has large potential for redevelopment opportunity. Please reviewattachments for photos, rent roll and expense sheet.

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Executive Summary

This information has been secured from sources we believe to be reliable, but we make no representations nor warranties, express nor implied as to the accuracy of theinformation. References to square footage are approximate.Buyer must verify the information and bears all risks for any inaccuracies. 3

LOCATION DESCRIPTION

Located only a 5 minute drive to Las Olas Boulevard, thecourthouse & Broward General Hospital.

SITE DESCRIPTION

Located between Andrews Avenue and Third Avenue on the southside of Davie Boulevard.

UTILITIES DESCRIPTION

Tenants pay electric, internet and cable. Owner pays water, sewer,trash & landscaping, minimal electric for pool & laundry facitlity aswell.

CONSTRUCTION DESCRIPTION

CBS

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Property Description

LOCATION INFORMATION

Building Name Rustic Manors

Street Address 50 SE 12th Street

City, State, Zip Fort Lauderdale, FL 33316

County Broward

Side Of The Street South

Signal Intersection No

Road Type Paved

Nearest Highway i95 & Federal Highway

Nearest Airport Fort Lauderdale - HollywoodInternational Airport

BUILDING INFORMATION

NOI $171,328.00

Cap Rate 4.28

Occupancy % 80.0%

Tenancy Multiple

Ceiling Height 8 ft

Minimum Ceiling Height 8 ft

Number Of Floors 2

Year Built 1973

Free Standing No

Number Of Buildings 1

Floor Coverings tile, carpet

This information has been secured from sources we believe to be reliable, but we make no representations nor warranties, express nor implied as to the accuracy of theinformation. References to square footage are approximate.Buyer must verify the information and bears all risks for any inaccuracies. 4

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Complete Highlights

This information has been secured from sources we believe to be reliable, but we make no representations nor warranties, express nor implied as to the accuracy of theinformation. References to square footage are approximate.Buyer must verify the information and bears all risks for any inaccuracies. 5

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Location Maps

This information has been secured from sources we believe to be reliable, but we make no representations nor warranties, express nor implied as to the accuracy of theinformation. References to square footage are approximate.Buyer must verify the information and bears all risks for any inaccuracies. 6

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Aerial Maps

This information has been secured from sources we believe to be reliable, but we make no representations nor warranties, express nor implied as to the accuracy of theinformation. References to square footage are approximate.Buyer must verify the information and bears all risks for any inaccuracies. 7

INCOME SUMMARY

Gross Income -

EXPENSE SUMMARY

Taxes 2018 $46,972Insurnace $16,000Pool Maintenance $2,100Water $14,400Trash $7,200Building Electric $1,800

Gross Expenses $88,472

Net Operating Income $171,328

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Income & Expenses

This information has been secured from sources we believe to be reliable, but we make no representations nor warranties, express nor implied as to the accuracy of theinformation. References to square footage are approximate.Buyer must verify the information and bears all risks for any inaccuracies. 8

UNIT

NUMBER

UNIT

BED

UNIT

BATH

CURRENT

RENT

SECURITY

DEPOSIT

1 1 1 $1,200 $500

2 1 1 $1,000 $500

3 1 1 $1,100 $500

4 1 1

5 1 1

6 1 1 $1,000 $500

7 1 1 $1,100 $500

8 1 1 $1,050 $500

9 1 1 $1,100 $500

10 1 1 $1,100 $500

11 1 1 $1,100 $500

12 1 1

13 1 1 $1,000 $500

14 1 1 $1,100 $500

15 1 1 $1,000 $500

16 1 1 $1,100 $500

17 2 1 $1,400 $500

18 1 1 $1,100 $500

19 1 1 $1,100 $500

20 1 1 $1,100 $500

21 1 1

22 1 1 $1,000 $500

23 1 1 $1,000 $500

24 1 1 $1,000 $500

Totals/Averages $21,650 $10,000

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Rent Roll

This information has been secured from sources we believe to be reliable, but we make no representations nor warranties, express nor implied as to the accuracy of theinformation. References to square footage are approximate.Buyer must verify the information and bears all risks for any inaccuracies. 9

UNIT TYPE COUNT % TOTAL

1 bedroom 23 95.8

2 bedroom 1 4.2

Totals/Averages 24 100%

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Unit Mix Summary

This information has been secured from sources we believe to be reliable, but we make no representations nor warranties, express nor implied as to the accuracy of theinformation. References to square footage are approximate.Buyer must verify the information and bears all risks for any inaccuracies. 10

1

2

SUBJECT PROPERTY PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS

Rustic Manors50 SE 12th StreetFort Lauderdale, FL 33316

$3,999,00010,173SF

$393.10 $166,625 4.28% - 24

SALE COMPS PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS CLOSE

1605 E Broward BoulevardFort Lauderdale, FL33301

$930,000 3,546 SF $262.27 $155,000 - - 611/02/2018

909 SE 14th CourtFort Lauderdale, FL33316

$1,712,666 7,737 SF $221.36 $155,696 - - 1108/09/2019

PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS CLOSE

Totals/Averages $1,321,333 5,642 SF $234.20 $155,450 - - 8.5

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Sale Comps Summary

This information has been secured from sources we believe to be reliable, but we make no representations nor warranties, express nor implied as to the accuracy of theinformation. References to square footage are approximate.Buyer must verify the information and bears all risks for any inaccuracies. 11

50 SE 12th Street | Fort Lauderdale, FL 33316SUBJECT PROPERTY

1Fort Lauderdale, FL33301

1605 E BROWARD BOULEVARD 2Fort Lauderdale, FL33316

909 SE 14TH COURT

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Sale Comps Map

This information has been secured from sources we believe to be reliable, but we make no representations nor warranties, express nor implied as to the accuracy of theinformation. References to square footage are approximate.Buyer must verify the information and bears all risks for any inaccuracies. 12

POPULATION 1 MILE 3 MILES 5 MILES

Total population 13,650 103,589 250,864

Median age 40.4 38.5 39.2

Median age (Male) 40.3 38.2 38.7

Median age (Female) 40.4 38.5 39.1

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES

Total households 6,502 44,583 103,410

# of persons per HH 2.1 2.3 2.4

Average HH income $88,005 $78,533 $69,071

Average house value $358,397 $449,146 $351,259

* Demographic data derived from 2010 US Census

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Demographics Map & Report