FOR SALE Brookfield Residential Portfolio...Alfredo Riascos Broker / Principal...

Brookfield Residential Portfolio

F O R S A L E

2800 NW 56th Ave

Lauderhill, FL 33313

TABLE OF CONTENTS

Non-Endorsement & Disclaimer NoticeProcuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing,or withdrawal without notice and to any special conditions imposed by our principal.

All property showings are by appointment only.

3. Property Description

4. Property Highlights

5. Location Overview

6. Context Map

7. Property Images

14. Sale Comparables

15. Pro-forma Financials

17. Rent Roll

18. About Us

Mateo Romero Senior Associate [email protected]. 954.805.7078

O. 305.507.7098www.gridlineproperties.com

Alfredo Riascos Broker / [email protected]. 786.325.5647

Brookfield Residential PortfolioFOR SALE

2800 NW 56th Lauderhill, FL

PROPERTY DESCRIPTION

The Brookfield Portfolio provides investors with a rare opportunity to acquire 23 residential units in the 200-unit Brookfield Condominium in Lauderhill.

The Brookfield Condominium is a 6 building, 4 stories, and 200-unit residential complex originally constructed in 1980. The complex offers well maintained common areas, ample parking, a community pool, and a gym.

The fully rented Portfolio consists of 13 one-bedroom / one-bathroom, 1 two-bedroom / one-bathroom, 7 two-bedroom / two-bathroom, and 2 three-bedroom / two-bathroom units that feature central A/C units, electric appliances, tile flooring, and renovated bathrooms. The portfolio is located in a historically high demand area and benefits from an active Home Owners Association. This provides for a low-maintenance opportunity that will allow an investor the ability to generate a constant and growing cash flow with minimal involvement.

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4

PROPERTY HIGHLIGHTS






Address

Type

Year built

Stories

Total Units

1bed/1bath

2bed/1bath

2bed/2bath

3bed/2bath

Parking

Amenities

Occupancy

Utilities:

Mechanical:

Fire Safety

Asking Price

Cap. Rate

2800 NW 56 Street, Lauderhill Florida

Residential

1980

4

23

13

1

7

2

Assigned

Pool and Gym

100%

Water - Paid by HOA

Electric - Paid By tenant.

HVAC - Central units

Smoke detector

$2,450,000

6.81%

LOCATION OVERVIEW

The Brookfield Portfolio is located between Sunrise Blvd and Oakland Park just east of Florida’s Turnpike. These thoroughfares benefit the property with ease of access to shopping, dining & Entertainment, medical, and employment centers. The Surrounding neighborhood is primarily residential with multifamily, condominium, and single-family homes with an average income of $39,000. NW 56 AVE

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CONTEXT MAP 6

PROPERTY IMAGES 7

8SALE COMPARABLES

Address

Units

Date Sold

Year Built

Sale Price

Price / Unit

6121 NW 11 Street

27

30/10/19

1975

$3,564,000.00

$132,000.00

1761 NW 46 Ave

168

27/05/20

1970

$21,350,000.00

$127,083.33

4301 NW 10 Ct

230

27/05/20

1969

$32,150,000.00

$139,782.61

6701 W Oakland Park Blvd

302

27/02/20

1986

$58,000,000.00

$192,052.98






9PRO-FORMA FINANCIALS

Acquisition Price

Legal & Closing Costs (1,5%)

Total Acquisition Costs

Unit Count

Price / Unit

Currentl Gross Income

Annual Rent Growth

Annual Operating Expense Growth

Gross Income

Effective Gross Income

$2.450.000

$36.750

$2.486.750

23

106.522

$300.888

2,5%

2,0%

Y3

$316,120.46

$316,120.46

Y4

$324,023.47

$324,023.47

Y5

$332,124.05

$332,124.05

Y6

$340,427.15

$340,427.15

Y1

$300,888.00

$300,888.00

Close Y2

$308,410.20

$308,410.20 2800 NW 56 Ave, Lauderhill

Annual Property Operating Data






Property Taxes

Insurance

HOA Fees

Management

Misc. Maintenance

Gross Annual Expenses

Net Operating Income

Y3

$44,982.00

$8,973.45

$73,483.80

$114.44

$6,120.00

$133,673.69

$182,446.76

Y4

$45,881.64

$9,152.92

$73,483.80

$116.73

$6,242.40

$134,877.49

$189,145.97

Y5

$46,799.27

$9,335.98

$73,483.80

$119.07

$6,367.25

$136,105.37

$196,018.69

Y6

$47,735.26

$9,522.70

$73,483.80

$121.45

$6,494.59

$137,357.80

$203,069.36

Y1

$44,400.00

$8,625.00

$73,483.80

$110.00

$5,000.00

$131,618.80

$169,269.20

(1.8% of acquisition price)

Automated System - Owner can transfer to buyer

Y2

$44,100.00

$8,797.50

$73,483.80

$112.20

$6,000.00

$132,493.50

$175,916.70

Estimated Operating Expenses

Close

10PRO-FORMA FINANCIALS

Cashflows

CAP RATE

IRR

Equity Multiple

Net Gain/Loss

Duration

Return On Equity

IRR

Equity Multiple

Net Gain

Duration

ROE

Value (total Cost)

LTV

Principal

Equity

Term

Payment per terms

Rate

Debt Service

Cash flows

DCSR

Cash on Cash

Return

Y3

$182,447

7.34%

Y3

($110,258.25)

$72,188.51

1.65

9.68%

Y4

$189,146

7.61%

Y4

($110,258.25)

$78,887.72

1.72

10.57%

Y5 + Exit

$3,580,507.98

143.98

Y5 + Exit

($110,258.25)

$1,953,997.89

1.78

261.92%

Exit

$3,384,489

Exit

$3,384,489

$ / Unit

$147,151.71

$/PSF

$147,151.71

Y1

$169,269.20

6.81%

Y1

($110,258.25)

$59,010.95

1.54

7.91%

Close

($2,486,750.00)

12.86%

1.73x

$1,810,537

5 years

72.81%

26.93%

2.989x

$1,483,718.51

5 Years

199%

$2,486,750.00

70%

$1,740,725.00

$746,025.00

25

12

4.00%

Close

($746,025.00)

Y2

$175,917

7.07%

Y2

($110,258.25)

$65,658.45

1.60

8.80%

Unlevered Investment Analysis Unlevered Return Metrics

Levered Return Metrics

Debt

Levered Investment Analysis






11RENT ROLL






UNIT

E-302

D-203

E-102

E-103

E-304

F-403

F-201

F-304

F-104

D-104

D-402

E-201

E-405

G-106

B-106

B-203

B-204

B-207

H-406

G-407

G-107

A-401

A-103

Total

BEDROOM

1/1

1/1

1/1

1/1

1/1

1/1

1/1

1/1

1/1

1/1

1/1

1/1

1/1

2/1

2/2

2/2

2/2

2/2

2/2

2/2

2/2

3/2

3/2

CURRENT RENT

$950.00

$1,100.00

$975.00

$950.00

$975.00

$1,000.00

$900.00

$900.00

$975.00

$1,050.00

$1,050.00

$975.00

$975.00

$1,150.00

$1,200.00

$1,200.00

$1,300.00

$1,200.00

$1,200.00

$1,199.00

$1,300.00

$1,100.00

$1,450.00

$25,074.00

CURRENT MARKET RENT

$1,000

$1,100

$1,000

$1,000

$1,000

$1,000

$1,000

$1,000

$1,000

$1,100

$1,100

$1,000

$1,000

$1,200

$1,300

$1,300

$1,300

$1,300

$1,300

$1,300

$1,300

$1,450

$1,450

LEASE EXPIRATION

MoMo

3/31/2021

3/12/2021

6/24/2021

2/28/2021

9/1/2021

Mo-Mo

Mo-Mo

Mo-Mo

04/31/21

8/20/2021

12/19/2020

Mo-Mo

8/20/2021

Mo-Mo

1/9/2021

4/30/2021

11/30/2021

11/30/2021

12/7/2020

7/31/2021

Mo-Mo

2/28/2021

A103 12

B204 13

D104 14

D203 15

F403 16

G107 17

Gridline Properties is a full- service commercial real estate brokerage firm based in Miami’s urban core.

The firm specializes in geographic-driven brokerage services that include landlord and tenant representation, strategic real estate planning, and investment sales and dispositions.

We pride ourselves in fostering long-term relationships with our clients and in this process, we have developed a forward thinking approach to real estate that allows us to grow together.

ABOUT US

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Mateo RomeroSenior [email protected]

Alfredo RiascosBroker / Principal

[email protected]

1035 N Miami Avenue #403 Miami, FL 33136

www.gridlineproperties.com 305.507.7098

Brookfield Residential Portfolio

F O R S A L E

2800 NW 56th Ave

Lauderhill, FL 33313

FOR SALE Brookfield Residential Portfolio...Alfredo Riascos Broker / Principal...

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