Cushman & Wakefield and been tapped by a private investment group to sell off the second largest single-family housing portfolio in Broward County history. The asking price for the 136 homes is $26 million. The portfolio comprises 194,245 sqf of single-family housing (1,428 square feet per home) located throughout Broward County which is currently 98 percent occupied. The portfolio produces nearly $2.7 million in annual gross income with rents averaging approximately $1,639 per month ($1.15 per square foot). The group has invested $5.8 million ($43,000 per home) in capital improvements throughout the portfolio.
“Single-family home sales within the portfolio are available below pre-recession pricing. Acquiring an income-producing, single-family housing portfolio is a rare opportunity,” stated Cushman & Wakefield’s Executive Managing Director Calum Weaver. “This provides an investor the best of both worlds: in-place cash flow and the potential to sell the homes individually at a significant premium in the future.”
