6124 Pembroke Rd, Miramar FL 33023 | Broward County | A11927967

6124 Pembroke Rd, Miramar FL 33023

Active Residential Income Active

$1,350,000

15 More

Type
Quadruplex

3670 Sq Ft
Area Size

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Active Residential Income Active

6124 Pembroke Rd, Miramar FL 33023 | Broward County | A11927967

6124 Pembroke Rd, Miramar FL 33023

$1,350,000

Description

Exceptional value-add multifamily opportunity at 6124 Pembroke Road, Miramar, FL 33023. This 8-unit property includes two 1BD/1BA apartments and six studio units, offering a versatile mix in a high-demand rental corridor. Seven of the eight tenants are on month-to-month leases, allowing immediate upside through rent adjustments or renovations. The property produces $140,520 in current annual gross income, translating to an impressive near-7% going-in cap rate from day one—without raising rents. Ideally located on highly trafficked Pembroke Road, just off 441, the asset is extremely easy to rent and centrally positioned close to major highways and essentials. Additional highlights include updated mini-split A/Cs, several renovated interiors, an on-site coin laundry room, and a large garage for storage with potential to convert into a 9th unit. Seller financing is available with very attractive terms.

Property Overview

6124 Pembroke Road in Miramar is a well-maintained quadruplex offering 8 total rental units, including two 1-bedroom/1-bathroom apartments and six studio units. Built in 1975 and spanning 3,670 square feet, the property has a proven rental history with seven of the eight units currently occupied under month-to-month leases. This provides the new owner with a rare opportunity to immediately adjust rents or plan for strategic renovations to increase value. The property is situated in a prime location on Pembroke Road, a major corridor with high visibility and strong rental demand. It’s just off I-595 and close to major highways and everyday conveniences. Monthly gross income is already at $11,710, translating to a near-7% cap rate at the current asking price of $1,350,000. Features include updated mini-split air conditioning systems, several renovated interiors, and an on-site coin-operated laundry room that adds convenience for tenants. Also included is a large garage with storage potential and the possibility to convert it into a ninth unit, depending on zoning and local regulations. Seller financing is available with favorable terms, making this an accessible option for serious buyers. The property is part of the Welwyn Manor subdivision and is positioned to benefit from its central location and strong tenant demand. For more details or to arrange a showing, contact 305-859-4733.

Frequently Asked Questions

How many units are in the Welwyn Manor quadruplex?

The property at 6124 Pembroke Road features eight total units, including two 1BD/1BA apartments and six studio units.

What is the current income potential of the property?

The property generates $140,520 in annual gross income, with seven of the eight units currently on month-to-month leases.

What is the cap rate for this property?

The property offers a near-7% going-in cap rate based on current income.

Is there potential for expansion or additional income?

Yes, there is a large garage with potential to convert into a ninth unit, offering additional upside.

What are the major location advantages of this property?

The property is located on Pembroke Road, just off 441, and is centrally positioned with easy access to major highways and essential services.

Are there any immediate maintenance or renovation needs?

Several units have already been renovated, and mini-split A/Cs are updated. Seven units are on month-to-month leases, allowing for potential upgrades or rent adjustments.