Johnson Court Apartments 701 Johnson Ct

The Hull Multifamily Advisors (HMA) are pleased to present the exclusive offering of the Johnson Court Apartments in Pahokee, FL. Constructed in 1960, this 16-unit, two story asset consists of all 1 bed 1 bath apartment units, with an additional living room/kitchenette. The Johnson Court Apartments boasts several amenities such as individual entrances, on-site secure mailboxes, and ample parking just to name a few. Individually metered for electric, tenants are responsible for electricity while the landlord is responsible for water, and trash.

The Johnson Court Apartments are being offered to the market as a stabilized cash flowing asset, however, several value-add opportunities present themselves. Most notably, this is asset significantly below market on rents. After doing an in-depth rent comparable study, it is believed that all units are on average $150-$200 below similar competing properties. This leaves investors with an opportunity to increase rents and further additional income on this already cash flowing asset. Notable for investors is current ownership is offering exceptional seller financing terms at 80% LTV, 4.8% interest, 55-year amortization, with a 5-year balloon, renewable for 3 additional years. In addition, this asset has historically been 100% occupied with units renting at an average of $625 per unit. Due to the attractive seller financing terms and historic impressive cash flow, this opportunity offers the marketplace a newly constructed cash flowing asset. Please contact HMA for more information before this opportunity is gone.