THE TOWNHOMES OF TANGO VILLAGE
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THE TOWNHOMES OF TANGO VILLAGE 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 Steven Paulsen Senior Advisor O: 561.725.0725 x100 [email protected] John Andrews Senior Advisor O: 561.613.1403 [email protected] Austin Littlepage Advisor O: 410.971.3207 [email protected] SVN | COMMERCIAL PARTNERS | 1800 CORPORATE BLVD. NW, SUITE 100, BOCA RATON, FL 33431 OFFERING MEMORANDUM
Transcript of THE TOWNHOMES OF TANGO VILLAGE
THE TOWNHOMES OF TANGO VILLAGE1315 NW 2ND STFORT LAUDERDALE, FL 33311
Steven PaulsenSenior AdvisorO: 561.725.0725 [email protected]
John AndrewsSenior AdvisorO: [email protected]
Austin LittlepageAdvisorO: [email protected]
SVN | COMMERCIAL PARTNERS | 1800 CORPORATE BLVD. NW, SUITE 100, BOCA RATON, FL 33431 OFFERING MEMORANDUM
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 2The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Disclaimer
The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be usedfor any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent ofthe SVN® Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.
The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person isauthorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receivingthese materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor.
Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the informationcontained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. ThisOffering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct,and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representationsor warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or madeavailable to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fullyexecuted and delivered Real Estate Purchase Agreement between it and Owner.
The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor anyof their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this OfferingBrochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property.
This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, toreject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with anyentity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the OfferingBrochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on termsacceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing andagreed to release the Owner and the SVN Advisor from any liability with respect thereto.
To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any suchcorrespondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospectivepurchaser proceeds at its own risk.
PROPERTY INFORMATION 1Property Summary & Highlights
Property Overview
Location Overview
LOCATION INFORMATION 2Regional Map
Local Map
Aerial Map
Flagler Village & Downtown
Birds Eye View
The Townhomes of Tango Village
Tango Village Community
Parcel Map
Parcel List
ADDITIONAL PHOTOS 3Exterior Community Photos
Exterior Community Photos
Interior Photos
FINANCIAL ANALYSIS 4
Financial Summary
Income & Expenses
Unit Mix Summary
SALE COMPARABLES 5Sale Comps
Sale Comps Summary
RENT COMPARABLES 6Rent Comps
Rent Comps Summary
ADVISOR BIOS 7Team Leader
Senior Advisor
Advisor
OFFERING MEMORANDUMTHE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST, FORT LAUDERDALE, FL 33311
1 PROPERTYINFORMATION
1315 NW 2nd StFort Lauderdale, FL 33311
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 4
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 5The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
CONDENSED PROPERTY HIGHLIGHTS
• Value Add Opportunity | Opportunity Zone
• 5 Minutes to Downtown Fort Lauderdale & Close Proximity to Major Economic Driver
• Dorsey Riverbend Neighborhood Is In The Path of Development
• 17 of 38 Individually Parceled Townhomes, Builder Rights and Decision Making Control
• Hurricane Impact Windows and In-Unit Washer & Dryer
• HOA Dues Cover Exterior Building Maintenance and Insurance Including Wind Coverage
• Separately Metered Water and Electricity Service
• 2007-2008 Newer Construction
• Unit Mix: (8) 3 Bedroom 2.5 Bath 2 Car Garage & (9) 2 Bedroom 2.5 Bath 1 Car Garage
• Flexibility to Sell Individually as Individual Parcels or Maintain Portfolio As Current
OFFERING SUMMARY
Sale Price: $3,900,000
Building Size: 22,731 SF
Price / SF: $171.57
NOI: $209,793
Zoning: RMM-25
Market:Miami-Fort
Lauderdale-PompanoBeach
Submarket: Fort Lauderdale
APN: 17 Individually ParceledTownhomes
Property Summary & Highlights
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 6The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
The Townhomes at Tango Village is a value add opportunity in a well located and highlydesirable neighborhood of Dorsey Riverbend and Downtown Fort Lauderdale respectively.Fort Lauderdale is known internationally as a hyper growth city attracting a high volume ofboth foreign and domestic capital investment. This portfolio of individually parceledtownhomes is in a prime position to participate in the overall upside that Fort Lauderdalehas historically provided year over year now and well into the future.
Affectionately called "Venice of America", Fort Lauderdale is home to the largest collectionof yachts in the world. Economic drivers include major tech companies, professionalservices companies, Port Everglades, world class tourism, yacht servicing & manufacturing,massive redevelopment, art districts, and a lively, walkable retail and restaurant scene withworld class dining options.
The portfolio contains 17 of a total 38 townhomes in the community. The owner of theportfolio enjoys decision making powers via the builder rights that convey to newownership without a sunset provision. With a construction date of 2007-2008, the asset isa rare find and opportunity for a new owner looking to place capital in a market that is justnow beginning to see massive redevelopment plans. Each townhome is individuallymetered for both water and electric. The interior of the units are all in good shape withrecent renovations in many of the units.
There is significant upside in value creation through market rent stabilization andOpportunity Zone benefits. Pro Forma rents are well in line with other individually ownedtownhome style units. The Townhomes at Tango Village provides maximum flexibility tonew ownership through an inherent ability to stabilize and possible disposition strategiesof individual townhome parcels.
This unique property is not replicated anywhere else in the Fort Lauderdale market, withtownhomes ranging in the half million dollar price point just blocks away. The Townhomesat Tango Village provide exceptional value to the investor looking to place capital in alandlord friendly South Florida market.
PROPERTY OVERVIEW
Property Overview
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 7The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
The Townhomes at Tango Village Portfolio opportunity is located in Fort Lauderdale and part ofthe Historic Dorsey Riverbend community as a qualified Opportunity Zone. A world class touristdestination and yachting capital of the world, affectionately named "Venice of America", FortLauderdale is home to one of the hottest residential construction markets across the country. Askyline littered with cranes and concrete, The Town-homes at Tango Village sits in the path ofdevelopment coming west from Flagler Village through the Sistrunk Redevelopment.
Just blocks in any direction from the site, Virgin Train Station, mixed use development, multifamilyand hospitality ventures are the talk of the town with The Townhomes at Tango Village Portfoliobeing well positioned to reap the benefits of capital flow to the area. Zoned RMM-25, ResidentialMultifamily Mid Rise/Medium High Density District. The CRA in the overall area has been veryactive with grants to developers that is helping to move the progress along to bring local andforeign capital to the area.
The Townhomes at Tango Village is well located to abundant public transportation options and isin close proximity to the economic drivers that a Downtown Fort Lauderdale area provides.Downtown Fort Lauderdale has quickly reshaped it's image to one flourishing in not just theprofessional services industries and corporate headquarters, but also now known as a burgeoningtech hub for many startups moving to the area for quality of life for senior management and staff.Microsoft, Citrix, Magic Leap, Chewy, and Ultimate Software are just a few of the Fortune 500Companies that have footprints in Broward County and Fort Lauderdale respectively.
Just minutes from the subject property via Broward Blvd the gateway to downtown, the FortLauderdale skyline has seen billions of dollars of investment and is flourishing in tourism, luxuryhigh rise multifamily and condominiums, and a lively retail and restaurant hot spot. FortLauderdale's urban population has grown by 30% through massive redevelopment of Las Olas,Victoria Park and Flagler Village. Next on that list will be the Sistrunk and Dorsey Riverbend areaswhere The Townhomes of Tango Village is perfectly situated.
LOCATION OVERVIEW
Location Overview
2 LOCATIONINFORMATION
1315 NW 2nd StFort Lauderdale, FL 33311
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 8
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 9The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Regional Map
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 10The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Local Map
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 11The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Aerial Map
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 12The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Flagler Village & Downtown
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 13The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Birds Eye View
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 14The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
The Townhomes Of Tango Village
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 15The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Tango Village Community
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 16The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Parcel Map
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 17The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Parcel List
3 ADDITIONALPHOTOS
1315 NW 2nd StFort Lauderdale, FL 33311
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 18
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 19The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
May not represent exact units included in the sale.
Exterior Community Photos
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 20The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
May not represent exact units included in the sale.
Exterior Community Photos
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 21The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Interior Photos
4 FINANCIALANALYSIS
1315 NW 2nd StFort Lauderdale, FL 33311
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 22
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 23The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
70% Loan to Value 5+5 Year Term Quoted at 3.75%. Features 30 Year Amortization with Recourse. 1.25% Debt Coverage Ration (DCR) Cleared at 1.38.National Debt Quote, information available upon request.
INVESTMENT OVERVIEW CURRENT PRO FORMA
Price $3,900,000 $3,900,000Price per Unit $229,411 $229,411GRM 11.3 10.4CAP Rate 5.4% 6.1%Cash-on-Cash Return (yr 1) 4.96 % 7.45 %Total Return (yr 1) $108,275 $137,331Debt Coverage Ratio 1.38 1.57
OPERATING DATA CURRENT PRO FORMA
Total Scheduled Income $345,300 $376,200Vacancy Cost $10,359 $11,286Gross Income $334,941 $364,914Operating Expenses $125,147 $126,064Net Operating Income $209,793 $238,849Pre-Tax Cash Flow $58,076 $87,132
FINANCING DATA CURRENT PRO FORMA
Down Payment $1,170,000 $1,170,000Loan Amount (70% LTV) $2,730,000 $2,730,000Debt Service $151,717 $151,717Debt Service Monthly $12,643 $12,643Principal Reduction (yr 1) $50,198 $50,198
Financial Summary
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 24The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
INCOME SUMMARY CURRENT PER SF PRO FORMA PER SF
Rental Income $345,300 $15.19 $376,200 $16.55
Total Income $345,300 $15.19 $376,200 $16.55
EXPENSE SUMMARY CURRENT PER SF PRO FORMA PER SF
Property Management (3%) $10,030 $0.44 $10,947 $0.48Real Estate Taxes $54,618 $2.40 $54,618 $2.40Liability Insurance $6,099 $0.27 $6,099 $0.27HOA Fees $45,900 $2.02 $45,900 $2.02Repairs & Maintenance ($300 per unit / per year) $5,100 $0.22 $5,100 $0.22Reserves for Replacements ($200 per unit / per year) $3,400 $0.15 $3,400 $0.15
Gross Expenses $125,147 $5.51 $126,064 $5.55
Net Operating Income $209,793 $9.23 $238,849 $10.51
Income & Expenses
UNIT TYPE COUNT % TOTAL SIZE (SF) MIN. RENT MAX RENT RENT/SF MARKET RENT MARKET RENT/SF
3/2.5 8 47.1 1,450 $1,750 $1,775 $1.22 $1,950 $1.34
2/2.5 9 52.9 1,234 $1,600 $1,650 $1.34 $1,750 $1.42
Totals/Averages 17 100% 22,706 $28,400.00 $29,050.00 $1.28 $31,350 $1.38
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 25The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Unit Mix Summary
5 SALECOMPARABLES
1315 NW 2nd StFort Lauderdale, FL 33311
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 26
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$345,000Sale Price: 2003Year Built:1,742 SFBuilding SF: $198.05Price PSF:1No. Units: $345,000Price / Unit:06/08/2020Closed:
UNIT TYPE # UNITS % OF SIZE SF
2/2.5 1 100 1,742
TOTAL/AVG 1 100% 1,742
Gated community. One car garage. Three (3) storytownhome, tile and wood floors throughout. Communitypool.
430 NE 2ND AVE FORTLAUDERDALE, FL 33301430 NE 2nd AveFort Lauderdale, FL 33301
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$308,000Sale Price: 2003Year Built:1,312 SFBuilding SF: $234.76Price PSF:1No. Units: $308,000Price / Unit:04/01/2020Closed:
UNIT TYPE # UNITS % OF SIZE SF
2/2.5 1 100 1,312
TOTAL/AVG 1 100% 1,312
Gated community. One car garage. Hurricane impactwindows, granite countertops and stainless appliances inkitchen.
201 SW 9TH AVE FORTLAUDERDALE, FL 33316201 SW 9th AveFort Lauderdale, FL 33316
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$195,000Sale Price: 2008Year Built:1,225 SFBuilding SF: $159.18Price PSF:1No. Units: $195,000Price / Unit:03/10/2020Closed:
UNIT TYPE # UNITS % OF SIZE SF
2/2.5 1 100 1,225
TOTAL/AVG 1 100% 1,225
Laminate floors, new shaker cabinets in kitchen, stainlesssteel appliances.
1320 NW 3RD ST FORTLAUDERDALE, FL 333111320 NW 3rd StFort Lauderdale, FL 33311
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THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 27The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Sale Comps
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$350,000Sale Price: 2003Year Built:1,573 SFBuilding SF: $222.50Price PSF:1No. Units: $350,000Price / Unit:05/28/2020Closed:
UNIT TYPE # UNITS % OF SIZE SF
3/2.5 1 100 1,573
TOTAL/AVG 1 100% 1,573
Granite countertops, stainless steel appliances, open kitchen,fenced backyard, detached one car garage.
707 NW 1ST AVE FORTLAUDERDALE FL 33311707 NW 1st AveFort Lauderdale, FL 33311
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$320,000Sale Price: 2002Year Built:1,560 SFBuilding SF: $205.13Price PSF:1No. Units: $320,000Price / Unit:12/01/2019Closed:
UNIT TYPE # UNITS % OF SIZE SF
3/2.5 1 100 1,419
TOTAL/AVG 1 100% 1,419
Gated community, one car garage. Granite countertops,stainless steel appliances, tile and laminate throughout.whirlpool tub, newer a/c, hurricane shutters.
706 SW 4TH AVE FORTLAUDERDALE, FL 33315706 SW 4th AveFort Lauderdale, FL 33315
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$303,000Sale Price: 2000Year Built:1,394 SFBuilding SF: $217.36Price PSF:1No. Units: $303,000Price / Unit:08/15/2019Closed:
UNIT TYPE # UNITS % OF SIZE SF
3/2 1 100 1,394
TOTAL/AVG 1 100% 1,394
Gated community. Laminate flooring, builder grade flat-piececabinets with granite counters in kitchen, white appliances.Paved and fenced patio. Community pool.
396 CITY VIEW DRIVE FORTLAUDERDALE, FL 33311396 City View DrFort Lauderdale, FL 33311
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THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 28The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Sale Comps
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 29The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
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SUBJECT PROPERTY PRICE BLDG SF PRICE/SF PRICE/UNIT # OF UNITS
The Townhomes of Tango Village1315 NW 2nd StFort Lauderdale, FL 33311
$3,900,000 22,731 SF $171.57 $229,412 17
SALE COMPS PRICE BLDG SF PRICE/SF PRICE/UNIT # OF UNITS CLOSE
430 NE 2nd Ave Fort Lauderdale, FL 33301430 NE 2nd AveFort Lauderdale, FL 33301
$345,000 1,742 SF $198.05 $345,000 1 06/08/2020
201 SW 9th Ave Fort Lauderdale, FL 33316201 SW 9th AveFort Lauderdale, FL 33316
$308,000 1,312 SF $234.76 $308,000 1 04/01/2020
1320 NW 3rd St Fort Lauderdale, FL 333111320 NW 3rd StFort Lauderdale, FL 33311
$195,000 1,225 SF $159.18 $195,000 1 03/10/2020
707 NW 1st Ave Fort Lauderdale FL 33311707 NW 1st AveFort Lauderdale, FL 33311
$350,000 1,573 SF $222.50 $350,000 1 05/28/2020
706 SW 4th Ave Fort Lauderdale, FL 33315706 SW 4th AveFort Lauderdale, FL 33315
$320,000 1,560 SF $205.13 $320,000 1 12/01/2019
396 City View Drive Fort Lauderdale, FL 33311396 City View DrFort Lauderdale, FL 33311
$303,000 1,394 SF $217.36 $303,000 1 08/15/2019
PRICE BLDG SF PRICE/SF PRICE/UNIT # OF UNITS CLOSE
Totals/Averages $303,500 1,468 SF $206.74 $303,500 1
Sale Comps Summary
6 RENTCOMPARABLES
1315 NW 2nd StFort Lauderdale, FL 33311
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 30
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2000Year Built: 1,394 SFBldg Size:1No. Units: 1,394 SFAvg. Size:$2,500Avg. Rent: 100%Occupancy:$1.79Avg. Rent/SF:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
3/2 1 100 1,394 $2,500 $1.79
TOTAL/AVG 1 100% 1,394 $2,500 $1.79
No Garage, corner unit. Updated, granite countertops,stainless steel appliances, built-in closets, tile downstairs,laminate upstairs, washer/dryer in unit. Panel Shutters,fenced paver deck in back.Closed : 10/1/2019
233 CITY VIEW DR FORTLAUDERDALE FL 33311233 City View DrFort Lauderdale, FL 33311
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2006Year Built: 1,591 SFBldg Size:1No. Units: 1,591 SFAvg. Size:$2,250Avg. Rent: 100%Occupancy:$1.41Avg. Rent/SF:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
3/2.5 1 100 1,591 $2,250 $1.41
TOTAL/AVG 1 100% 1,591 $2,250 $1.41
Gated community, two (2) car garage, community pool. Tilethroughout, granite countertops, 42" cabinets, stainless steelappliances, balcony, fenced yard, washer/dryer in unit.Closed: 8/20/2019
521 SW 18TH AVE #47 FORTLAUDERDALE, FL 33312521 SW 18th Ave #47Fort Lauderdale, FL 33312
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2000Year Built: 1,394 SFBldg Size:1No. Units: 1,394 SFAvg. Size:$2,150Avg. Rent: 100%Occupancy:$1.54Avg. Rent/SF:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
3/2 1 100 1,394 $2,150 $1.54
TOTAL/AVG 1 100% 1,394 $2,150 $1.54
Shaker Cabinets, Granite countertops, fenced patio, cornerunit.Closed: 7/1/2020
254 CITY VIEW DRIVE FORTLAUDERDALE, FL 33311254 City View DriveFort Lauderdale, FL 33311
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THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 31The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Rent Comps
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2008Year Built: 1,266 SFBldg Size:4No. Units: 1,266 SFAvg. Size:$1,900Avg. Rent: 100%Occupancy:$1.50Avg. Rent/SF:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
3/2 4 100 1,266 $1,900 $1.50
TOTAL/AVG 4 100% 1,266 $1,900 $1.50
Carport, small gated community, four (4) individually parceledtownhomes. Impact windows, granite countertops, woodcabinets, tile floors downstairs, laminate upstairs, washer/dryer in unit. Closed 5/20/2020
820 NW 2ND AVENUE 2FORT LAUDERDALE FL 33311820 NW 2nd Ave Unit 2Fort Lauderdale, FL 33311
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2005Year Built: 1,474 SFBldg Size:1No. Units: 1,474 SFAvg. Size:$1,850Avg. Rent: 100%Occupancy:$1.26Avg. Rent/SF:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
3/2.5 1 100 1,474 $1,850 $1.26
TOTAL/AVG 1 100% 1,474 $1,850 $1.26
No garage. Clean, granite countertops, laminate flooringthroughout. Stainless steel appliances, washer/dryer in unit.Paved, fenced patio in rear.Closed: 9/1/2019
747 NW 2ND AVE FORTLAUDERDALE FL 33311747 NW 2nd AveFort Lauderdale, FL 33311
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2003Year Built: 1,102 SFBldg Size:1No. Units: 1,102 SFAvg. Size:$1,700Avg. Rent: 100%Occupancy:$1.54Avg. Rent/SF:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
2/2.5 1 100 1,102 $1,700 $1.54
TOTAL/AVG 1 100% 1,102 $1,700 $1.54
Larger lot size, no garage. Updated kitchen, laminatecounters, stainless steel appliances, laminate floors. Washer/dryer inside unit.Closed : 3/4/2020
636 NW 2ND AVE FORTLAUDERDALE, FL 33311636 NW 2nd AveFort Lauderdale, FL 33311
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THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 32The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Rent Comps
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SUBJECT PROPERTY RENT/SF AVAILABLE SF BLDG SF # OF UNITS OCCUPANCY %
The Townhomes of Tango Village1315 NW 2nd StFort Lauderdale, FL 33311
$1.28 0 SF 22,731 SF 17 100.0%
RENT COMPS RENT/SF AVAILABLE SF BLDG SF # OF UNITS OCCUPANCY %
233 City View Dr Fort Lauderdale FL 33311233 City View DrFort Lauderdale, FL 33311
$1.79 1,394 SF 1,394 SF 1 100%
521 SW 18th Ave #47 Fort Lauderdale, FL 33312521 SW 18th Ave #47Fort Lauderdale, FL 33312
$1.41 1,591 SF 1,591 SF 1 100%
254 City View Drive Fort Lauderdale, FL 33311254 City View DriveFort Lauderdale, FL 33311
$1.54 1,394 SF 1,394 SF 1 100%
820 NW 2nd Avenue 2 Fort Lauderdale FL 33311820 NW 2nd Ave Unit 2Fort Lauderdale, FL 33311
$1.50 5,064 SF 1,266 SF 4 100%
747 NW 2nd Ave Fort Lauderdale FL 33311747 NW 2nd AveFort Lauderdale, FL 33311
$1.26 1,474 SF 1,474 SF 1 100%
636 NW 2nd Ave Fort Lauderdale, FL 33311636 NW 2nd AveFort Lauderdale, FL 33311
$1.54 1,102 SF 1,102 SF 1 100%
RENT/SF AVAILABLE SF BLDG SF # OF UNITS OCCUPANCY %
Totals/Averages $1.51 2,003 SF 1,370 SF 1.5 100%
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 33The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Rent Comps Summary
7 ADVISOR BIOS1315 NW 2nd St
Fort Lauderdale, FL 33311
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 34
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 35The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
STEVEN PAULSEN
Senior Advisor
[email protected]: 561.725.0725 x100 | Cell: 561.929.4098
PROFESSIONAL BACKGROUNDSteven Paulsen is a Team Leader and Senior Advisor of Investment Sales for SVN Lotus. Seventeen years of real estate sales and management, Mr. Paulsen is well-positionedto provide exemplary advisory services to his clients' in the South Florida market. Steven Paulsen at his core believes in the power of absolute collaboration with all brokersand buyers. The SVN International Platform perfectly aligns with how he and his team approach Investment Sales commercial real estate. With maximum exposure comesmaximum demand. This allows for Mr. Paulsen and Team to drive both price and term in an already competitive marketplace.
Steven Paulsen is a Florida native with a deep passion for his craft. A career that began in 2003 as a Real Estate agent with a local broker in Coconut Creek, he progressed tobecome a licensed Broker a year later. Mr. Paulsen is proud to have opened his own real estate office where he served as broker and leader of an award-winning team ofseventeen other productive agents.
Steven has found great joy in community activism including past relationships with Big Brothers and Big Sisters of Broward County. Always the activist, he has served aspresident of multiple condominium association boards and land associations. Serving in positions of leadership is a passion that has served himself and those around himwell and Mr. Paulsen continues to seek board positions in the real estate space.
Steven Paulsen spends his spare time as a loving father engaging in local school functions and learning events. During his personal time with family and friends, he findsgreat joy in experiencing the lifestyle South Florida provides, namely boating activities. A lover of the water through fishing and leisure activities. There is a good chance thatif you cannot reach him by phone on a Sunday, he is at the sandbar or tied to a buoy off South Florida's picaresque coast.
Always an innate leader capable of great things, it is the goal of Steven Paulsen to bring an exceptional value proposition to his clients while leveraging the national platformof SVN to always put client interests above his own. Best practices and fostering a systematic approach to the acquisition and disposition of commercial real estate assetsare key strengths to his overall approach to maximizing client outcomes.
SVN core covenants align perfectly with him, "Above all else put your clients’ interests above your own". Steven Paulsen’s favorite quote is, “Do not put off tomorrow whatcan be done today”.
MEMBERSHIPSMultifamily Product CouncilDBQHS Board Director - Affordable Housing
Team Leader
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 36The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
JOHN ANDREWS
Senior Advisor
[email protected]: 561.613.1403 | Cell: 561.613.1403
PROFESSIONAL BACKGROUNDAs a true Boca Raton native, John spent much of his younger years in or on the water. Most summers were spent in Islamorada, where he and his two brothers learned to fish and dive forlobster as young as 6 years old. His love for the water continues to this day, mostly expressed through spearfishing on the local reefs, or freediving out in 1,000 feet of crystal clear GulfStream water chasing mahi mahi. In this fast paced world John finds his peace and clarity 80’ under the ocean’s surface on one breath of air.
Seasoned in marketing and business development, John has a strong belief in the concept of Kaizen in both professional and personal environments. This belief serves John well as aSenior Advisor at SVN; where he specializes in identifying value-add opportunities for clients in commercial real estate. Truly listening to clients needs and goals, his objective is to providehis clients with the very best commercial real estate advice possible.
Being deeply involved in the market and so aligned with the values built in to the Core Covenants of SVN, John constantly strives to bring immense value to his clients, community andcolleagues through collaboration, hard work, and strategic asset management.
If John's not talking CRE, he's probably spending time with his family, trying to get some friends together for a fishing trip, planning for the next 70 mile per hour boat he wants to buy, orsomething having to do with Ohio State Buckeyes football. Half of the Andrew's family is from Columbus, and John was born and raised to bleed scarlet and gray. Go Bucks!
John's wife and young son are the true source of his drive and inspiration. Though it seems like a pretty common source of inspiration to most, it’s all that John needs. John's family fuels hisdesire to live a wonderful and fulfilled life. He loves spending time together with them and their dogs at home, the beach, or on the boat.
EDUCATIONFlorida Atlantic UniversityBachelor's of Business Administration - Management, Marketing
MEMBERSHIPS
National Council of Multifamily Properties - SVNRealtors Commercial Alliance
Senior Advisor
THE TOWNHOMES OF TANGO VILLAGE | 1315 NW 2ND ST FORT LAUDERDALE, FL 33311 SVN | Commercial Partners | Page 37The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
FL #3427888
AUSTIN LITTLEPAGE
Advisor
[email protected]: 410.971.3207 | Cell: 410.971.3207
PROFESSIONAL BACKGROUNDAustin Littlepage is an Investment Sales Advisor for SVN Lotus and SVN International respectively. Mr. Littlepage is well connected with Private Equity real estate owners upand down the east coast. Highly collaborative, Austin excels at connecting dots that others may not see. The SVN Platform and Core Covenants align perfectly with his ownparticularly, “always looking out for the clients’ best interest”. Working within the company culture of absolute collaboration has served his clients’ well and openedopportunities that otherwise might not be available.
As well, Austin has an innate passion for watching the local community grow through smart and responsible development. Seeing a community re-gentrify has been aguiding force behind the thirst for his own professional development. Taking a long view approach to his budding career brings a certain excitement that he cherishes as hebuilds on his early success.
Always the entrepreneur, Austin Littlepage has invested greatly in sharpening his skills to bring exceptional value to his clients’ portfolio goals. Ongoing communication withproduct specialists across the SVN platform has been the experience needed to continue his professional growth. Leveraging the available resources is paramount to hisbusiness. Real Estate ownership is a family legacy that Austin plans to continue.
Mr. Littlepage grew up in a coastal community outside of Baltimore, Maryland. His appreciation for Florida and the beautiful natural resources found here will provide himfurther love for his new hometown. Hobbies include all the water activities, South Florida food scene, as well as being a passionate Baltimore Ravens fan.
EDUCATION
Lynn University- Bachelors degree in Communications and Social Media Marketing
MEMBERSHIPS
Miami Beach Chamber of Commerce
Advisor
All SVN® Offices Independently Owned & Operated | 2020 All Right Reserved
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561.725.0725 x100svncp.com
