10-Unit Condo Portfolio, Grandfathered Rental Rights, $1,300,000
10-unit 2-bedroom condo portfolio in a gated 55+ community, Pembroke Pines, FL
On NextCompany since September 1, 2026 (43 days)
FL areaEstablished 1976
Business overview
This 10-unit condominium portfolio sits in a gated 55+ community in Pembroke Pines. The portfolio has operated since 1976. Buyers acquire the existing LLC to keep grandfathered rental rights. This sale includes the real estate for all 10 units.
Unrenovated units currently rent for $1,700 to $1,900 per month per unit. The asking price is $1,300,000. Gross revenue totals $183,494. Cash flow totals $51,270.
Who is a good fit for this business
- Buyers who can acquire an existing LLC to preserve grandfathered rental rights in this community.
- Investors seeking a 10-unit, 2-bedroom portfolio in a gated 55+ community in Pembroke Pines.
- Buyers prepared to fund the $1,300,000 asking price without seller financing.
- Investors who can renovate units to pursue $400 to $600 per month in additional rent.
Details
- Real estate
- Owned, included in sale
Frequently Asked Questions
The portfolio holds 10 condominium units in a gated 55+ community in Pembroke Pines. Each unit has two bedrooms and two baths. The community includes resort-style pools, a clubhouse, a fitness center, tennis courts, social areas, shuttle service, and on-site security. This sale includes the real estate for all 10 units.
The association no longer permits new rental approvals in this 55+ community. These 10 units hold grandfathered rental status that transfers with the existing LLC. Buyers complete an LLC acquisition to keep those rights. A standard asset purchase does not preserve those rights.
This 10-unit portfolio carries an asking price of $1,300,000. Gross revenue totals $183,494. Cash flow totals $51,270. Net operating income at current rents runs approximately $74,000 to $98,000 before financing. HOA fees of $95,775 and taxes of $34,086 form the $129,861 expense total.
Most units in this 10-unit portfolio remain unrenovated. Current rents run $1,700 to $1,900 per month per unit. Renovated comps in the community command $400 to $600 per month in additional rent per unit. Renovating all 10 units adds $48,000 to $72,000 in additional gross annual rent.
The seller does not provide financing on this 10-unit portfolio. Buyers fund a $1,300,000 down payment equal to the full asking price. The listing records a real estate value of $1,600,000. Sunbelt Business Brokers of South Florida lists the asset through Mitchell Weinberger.