Sean Lam with Keller Williams has listed a vacation rental
in Pompano Beach, FL for 8% cap. Orchid Grove is a turnkey income-producing
property that grossed $80K in 2012 over a nine-month period. The asking price
is $450,000.
The waterfront property is located right off Ocean Dr A1A, a
1.5 mile north of Commercial Blvd. The single family house has a circular
driveway for more parking and a heated water pool with a spa for 5 people. There are 5 bedrooms, 3 and half baths and a
3-car garage. The bathrooms and bedrooms were remodeled in 2011 with hardwood
floor and high-end custom built closet.
The master bathroom and one other bathroom have jet stream showers. The living area is approximately 2500 SF and
the lot size is about 11,000 SF. The property is surrounded by waters on three
sides. There is no fixed bridge between
the dock and the Intracoastal Waterways.
A boat up to 70 ft can be docked.
A screened porch provides more room for outdoor entertainment. New hurricane proof glasses were installed around
the house. The windows were treated to
reduce the sun glare into the house. Proximity to the beach ensures full
booking from January to May every year for this property. Pompano Beach attracts thousands of
vacationers from Canada and Northern US every year. The city is a popular
destination for snowbirds and spring breakers. These vacationers prefer to stay
in this type of vacation rental over motel or hotel rooms because it provides
more privacy and amenities at a lower price.
For more details about this great opportunity, please contact Sean Lam
at 954-687-4532.
Increasingly, websites like Airbnb and Homeaway.com become
popular with out-of-state property owners because they provide a platform to
streamline bookings. In addition, owners can compare rents on the different
properties in the same neighborhood, so that they know how much they should
charge for their own properties.
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