tomo logo

$799,000

Beds
3
Baths
2.5
sq ft
1,620

420 SE 16th St St Unit 420, Fort Lauderdale, FL 33316

420 SE 16th St St Unit 420

Fort Lauderdale, FL 33316

  • 192 days on market
Discover an exceptional investment opportunity in downtown Fort Lauderdale with this fully leased townhome community, boasting a seamless operation managed by a reputable sober living company owned by a New York REIT for past 7 years. Current rental rate is $4,800/month. Renewal term is 5 years @ $5,200/month. Corporate tenant pays all utilities and repairs. The HOA management handles rental collections and repairs for all unit owners. This is a turn key investment with minimal effort for owner/investor. 3 bedroom 2.5 bath unit featuring 2 levels, w/ balcony and a two car garage. Great steady investment with appreciation upside, being a fee simple townhome in down town Fort Lauderdale, next to Whole Foods, the famous SE 17th St Causeway bridge and a short ride to the beach.

Details

Property type

Townhouse

Est. home value

$596,536

Lot size

Unknown

Price per sq ft

$494

Year built

2016

Annual property taxes

$8,683

Monthly HOA fee

$400

Price History

04/30/2024
Beaches

Beaches #F10437259

Listed
$799,000

Schools & Community

Neighborhood: 

Poinciana Park

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Number of units in community: 

8

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$416,994
Asking price
$799,000
Closing costs (~8% of asking)
-$63,920
Est. remaining loan balance
-$318,086
Cash to seller
$416,994

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Key Bank Na

Loan start date

March 2022

Original loan amount

$335,000

Est. remaining balance

$318,086

Interest rate

3.56%

Loan type

New Conventional, 30 year

Seller

Ute Reschke and Karl Heinz Reschke

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 11/08/2024 at 9:40 AM

Listing updated: 09/30/2024 at 5:52 PM

Listed by: Scott Coloney, Flagler Duval Phone #: (954) 760-4888

MLS: Beaches #F10437259

Beaches logo

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