2860 Somerset Drive 311k, Lauderdale Lakes, FL 33311 — MLS photo

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2860 Somerset Drive 311k, Lauderdale Lakes, FL 33311

Active · Condominium

$110,000

2860 Somerset Drive 311k, Lauderdale Lakes, FL 33311

Beds
1
Baths
2
Living area
835 sq ft
$ / sq ft
$132/sq ft
Year built
1979
Lot size
—
HOA fee
$730 Monthly
Annual tax
$2,047

About this property

Investor Opportunity! Spacious 1-bed, 1.5-bath condo located in the desirable Somerset gated 55+ community, offering a secure and comfortable living environment. This residence features two large walk-in closets, an in-unit washer, french doors leading into the bedroom. Peaceful garden and pool views from your home, bright living room that includes a fully enclosed balcony. The unit is partly furnished, and basic cable TV and water are included in the association fees. Small dogs (up to 15 lbs when fully grown) are permitted. Please note: Leasing is not allowed during the first two years of ownership, and there are rental restrictions thereafter. A tenant is currently in place with a lease through May 1, 2027, this is an investment opportunity. Don't miss out on this great opportunity!

Property location

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2860 Somerset Drive 311k, Lauderdale Lakes, FL 33311

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Facts & features

Interior

Bedrooms
1
Bathrooms
2
Living area
835 sq ft
Flooring
Ceramic Tile, Hardwood, Tile, Wood
Appliances
Dishwasher, Electric Range, Microwave, Refrigerator, Washer
Cooling
Central Air, Ceiling Fans
Heating
Central
Interior features
Bedroom On Main Level, French Doors Atrium Doors, Living Dining Room, Main Living Area Entry Level, Walk In Closets, Elevator

Exterior & Structure

Property type
Condominium
Year built
1979
Stories
4
Lot size
0 sq ft
Architectural style
Tri Level
Roof
Concrete, Flat, Tile
Construction
CBSConcrete Block Structure, Block, Stucco
Exterior features
Balcony, Courtyard, Enclosed Porch
Pool
Pool, Private, Association, Community
View
Garden, Pool

Parking

Covered spaces
0
Parking features
Assigned, Guest

HOA, Community & Financials

Association fee
$730 Monthly
Fee inclusions
Common Area Maintenance, Cable Tv, Hot Water, Laundry, Parking, Pools, Sewer, Trash, Water
Association
Patterson Home Impro
Association contact
954-677-9555
Amenities
Clubhouse, Controlled Access, Laundry, Pool, Elevators
Security
Security Guard, Security Gate, Smoke Detectors
Pets allowed
No
Annual tax
$2,047
Subdivision
SOMERSET AT LAUDERDALE LAK
County
Broward
Days on market
173
MLS listing ID
B26022720
Listing status
Active

Investment intelligence

Yield & ROI calculator

Pre-filled from this listing's price, HOA and tax record. Adjust anything to see returns update instantly.

Estimated monthly cash flow

$103

Cap rate
6.8%
Net yield
6.8%
Cash-on-cash return
4.0%
Gross yield
19.7%
Mortgage payment
$521/mo
Down payment
$27,500
Loan amount
$82,500
Annual NOI
$7,498

Estimates only — includes 5% maintenance reserve and ~3% closing costs in cash invested. Verify taxes, HOA and insurance before making an offer.