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OFF MARKET 1.5 Acre West Pines Finca!



$419,900

FOR SALE

19730 SW 12th St

Pembroke Pines, FL

  • This great deal is right by the West Pines Soccer Fields and has Never Been on the MLS.
  • Not only is this unbelievable opportunity priced under 70% ARV, it is even priced cheaper than land value! The vacant lot at 19892 SW 14th St is only 37,000 sq foot lot was just recently listed for $300,000 making our 1.5 acre lot worth nearly $530,000 just for the land!
  • This flip has everything going for it. The property has a ton of square footage sitting on a private and secluded 1.5 acre lot that can be used agriculturally as a finca (farm). The house has a one car garage, and a fireplace as well.
  • The electric and A/C are both newer, and the roof appears watertight.
  • This CBS house has great bones, but needs complete updating inside including new bathrooms, kitchen, flooring, and paint. The exterior will need paint and some landscaping as well.
  • Why you need to buy this deal:
    1. Irreplaceable
    2. Great Comps
    3. Actives Suggest an Upwards Trend
    4. No Competition
    5. It's a Money Maker!
  • 1. Irreplaceable:
    -In Broward County, the cheapest active house sitting on more than an acre west of Flamingo Rd is 3230 SW 121st Ave. This property is 1,000 sq ft smaller, needs full interior updating, and is asking $524,900.
  • 2. Great Comps:
    -Figuratively speaking, the floor when evaluating the ARV using rehabbed comps is very high, sitting at $650-660k.
    -In the last six months, the cheapest renovated property on an acre or more, west of Flamingo Rd, and that is similar to this subject, sold for $650,000.
    -In addition, the next cheapest comparable remolded property, that also happens to be smaller, sold for $659,014.
  • 3. Actives Suggest an Upwards Trend:
    -While the cheapest rehabbed comps show that this property can sell for $650-660k, the active comps suggest the ceiling can be much higher, potentially reaching $750k.
    -The cheapest rehabbed active property on more than an acre, 13401 SW 55th St, is asking $745,000.
    -The next cheapest active is slightly smaller and needs a complete renovation, yet they’re asking $749,000 for that property.
  • 4. No Competition:
    -The only active in the small pocket of sought after secluded properties near this one is another 3/2, 19711 SW 13th Mnr. Although this property has a nicer paver driveway, it sits on a lot that is about 2/3 the size of our subject and it also needs a full interior renovation, yet they're asking $619,000.
  • 5. It's a Money Maker:
    -While the final sale price is tough to nail down, we are asking less than 62% of the lowest ARV value, and the trends from the comps show an amazing opportunity to make anywhere between $100-200k.

    Profit Scenarios:
    Scenario 1 = Roughly $100k Profit
    $650,000 ARV
    -5% Closing Costs and Commissions on Sale
    -$60,000 Rehab
    -$450,000 Purchase Price
    -$10,000 Closing Costs on Purchase
    =$97,500 Profit

    Scenario 2 = Roughly $200k Profit
    $750,000 ARV
    -5% Closing Costs and Commissions on Sale
    -$60,000 Rehab
    -$450,000 Purchase Price
    -$10,000 Closing Costs on Purchase
    =$192,500 Profit

Documents

 
No Documents for this Property


  • Sale Comps $650K - $750K
  • Rental Comps $3,000 - $3,150
  • Property Type Residential
  • Location Pembroke Pines, FL
  • Size 2752 sq. ft.
  • Bedrooms 3
  • Bathrooms 2
  • TAV 413.9K
  • Annual Taxes $4,214
  • Year Built 1976

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