Turnkey Lakefront Condo

[Lulu Dareus]

🏡 Turnkey Lakefront Condo – BELOW MARKET RENT – Tenant Occupied | Oakland Park, FL | $224,500

🔹 PROPERTY OVERVIEW:

Solid 2-bed, 2-bath unit on the 4th floor in the sought-after Lake Emerald community of Oakland Park, FL — a peaceful, gated lakefront complex just minutes from downtown Fort Lauderdale.

🛏 2 Beds | 🛁 2 Baths | 📐 920 sq ft

🌊 Lake views from private balcony

🏊 3 Pools, Gym, Clubhouse, Tennis Courts, 24/7 Guard Gate

💰 Financial Snapshot:

Asking Price: $224,500

Current Rent: $1,550/month (tenant-occupied)

HOA Fees: ~$618/month (includes water, cable, security, amenities)

Annual Taxes: ~$3,900

Insurance (Est.): ~$1,200/year

📉 Note: Current rent is below market – similar units in the community are renting between $1,750 – $1,850/mo, offering immediate upside at lease renewal.

📈 Estimated ROI (Current Rent):

Gross Annual Income: $18,600

Annual Operating Costs (HOA + Taxes + Insurance): ~$11,616

Estimated Net Income: ~$6,984

Cap Rate: ~3.1%

🔼 Pro Forma ROI (If Rented at $1,800):

Gross Income: $21,600

Net Income: ~$9,984

Cap Rate: ~4.4%

🎯 Why This is a Great Buy:

✔️ Turnkey with tenant in place – earn income from Day 1

✔️ Upside in rent – improve ROI without renovation

✔️ Desirable lakefront location in a strong rental market

✔️ Community amenities = great long-term value for tenants

✔️ Stable HOA, no known special assessments

✔️ Easy access to major highways & Fort Lauderdale attractions

📍 Location Highlights:

15 mins to Fort Lauderdale Beach

5 mins to I-95

Strong long-term rental demand

Growing Oakland Park redevelopment zone

🤝 Realtor-friendly deal – bring your investor clients!

Lulu Dareus

954-687-2842