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$399,000

For Sale - Active
1865 S Ocean Dr Apt 20M, Hallandale Beach, FL 33009
2 Beds
2 Baths
1,300 Square Feet
0.00 Acres Lot
Built in 1974
For Sale - Active
Units n/a
Checked: 17 hours ago
Updated: Jun 18, 2025 at 03:35AM

Investment Summary


Monthly Cash Flow
-$1,207
Cap Rate
2.7%
Cash-on-Cash Return
-15.8%
Debt Coverage Ratio
0.42
Internal Rate of Return (5 years)
-11.3%

Property Description


0.00 Acres Lot
Built in 1974
For Sale - Active
Units n/a

RARE Find DIRECT OCEAN view CORNER PENTHOUSE and a TRUE BOATERS DREAM! This 1 bedroom/2 full baths converted unit has unique European marble/onyx flooring throughout the living area, hurricane impact windows, additional storage, that comes with a DEEDED boat slip (up to 36' boat), that can be rented, or sold separately (an added value). This unit's gorgeous ocean view will never be obstructed, due to Citi owned public beach right across the street from Prince George building. Another big PLUS is the unit's COVERED GARAGE parking space located close to the elevator. In addition to the indoor amenities: gym, sauna, library, party room, ping-pong table, etc., the Association offers large private outdoors area on the Intracoastal with a pool, tennis court, marina, and barbecue area.

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Location


Property Details


Parking

  • Description: TwoOrMoreSpaces
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 20

HOA

  • Has HOA: Yes
  • HOA Fee: $1,010/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 514226CG2440
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1974

Tax Information

  • Annual Tax: $2,967

Utilities

  • Heating: Central, Electric
  • Cooling: Central Air, Electric

Location

  • County: Broward

Listing Details


Listed by:
Marsha Umansky
Prag Realtors
(954) 673-1624

Source:
BeachesMLS
MLS#: F10485802
BeachesMLS

Investment Summary


Monthly Cash Flow
-$1,207
Cap Rate
2.7%
Cash-on-Cash Return
-15.8%
Debt Coverage Ratio
0.42
Internal Rate of Return (5 years)
-11.3%

Purchase Details

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Purchase price:
$399,000
Amount financed:
-$319,200
Down payment:
$79,800
Closing costs:
$11,970
Rehab costs:
$0
Initial cash invested:
$91,770
Square feet:
1,300
Cost per square foot:
$307
Monthly rent per square foot:
$2.38

Financing Details

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Loan amount:
$319,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$2,089
Property tax:
$247
Insurance:
$217
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,553

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,100 $37,200
Vacancy loss: (6%)
6% -$186 -$2,232
Operating income:
$2,914 $34,968

Operating Expenses


% Rent Monthly Yearly
Property taxes: (8%)
8%-$247-$2,967
Insurance: (7%)
7%-$217-$2,604
Property management: (8%)
8%-$248-$2,976
Repairs & maintenance: (5%)
5%-$155-$1,860
Capital expenditures: (5%)
5%-$155-$1,860
HOA fees: (33%)
33%-$1,010-$12,120
Total operating expenses: (66%)
66%-$2,032-$24,387

Cash Flow


Monthly Yearly
Net operating income:
$882 $10,584
Mortgage payments:
-$2,089 -$25,068
Cash flow:
$1,207 $14,484