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$209,000 / 4br - 1770ft2 - 4 bdrm 2.5 Bath Townhouse Plantation, Fl Fenced back (Townhouses at Jacaranda)

849 NW 81 Way, Plantation, Fl, FL 33324

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849 NW 81 Way

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4BR / 2.5Ba 1770ft2 available now
license info: 3167613
REDUCED to $209,000. Rare Opportunity! Appraised at $226,000.
Move in Ready.
VERY Spacious over 1770 Sq Ft.
Large Dogs allowed ( no aggressive breeds)
4th bedroom is a converted garage.
Washer /Dryer hookup
Unit has a large Sundeck on the top floor off the master bedroom.
Lots of upgrades.
Accordian shutters.
40 yr recertification and renovations updating entire building and community, NEW ROOF INSTALLED 2022, and Hurricane impact windows to be installed. Entire Building to be Painted, rebuilt sundeck balcony, gutters installed, electrical panel upgrade to code, 10 yr smoke detectors and gfis, Termite tenting with bond. Any other necessary repairs, renovations or code updates

Requirements: As per association : minimum credit 650, Minimum Income requirement $55K for individual, $88K for a couple. OR $250K in assets.

United Realty Group
Tracy Thomas show contact info
Call or text today
All measurements and information pertaining to listing are approximate and deemed accurate but not warranted by seller nor listing agent/broker. Buyer and buyers agent shall rely solely on buyers confirmation of said information prior to closing.

EXPLANATION OF SPECIAL ASSESSMENT
I am writing to provide detailed information about the Townhouses at Jacaranda. This community, located in Plantation, Florida, off of Cleary between University Road and Pine Island Road, consists of 47 buildings with a total of 347 units. Our community boasts two pools, a clubhouse, a tennis court, and a playground, with four entrances providing easy access.
We are currently undergoing our 40-year recertification and renovation to meet County requirements. As part of this project, every building received a new roof in 2022. Additionally, all units will be equipped with hurricane impact windows, excluding the downstairs sliders. Each building will also be painted, waterproofed, and fitted with new gutters.
Furthermore, the two parking spaces allocated to each unit will receive a fresh coat of blacktop. To ensure the long-term integrity of our buildings, every building will be tented for termites as a preventive measure and will receive a termite bond to safeguard against future infestations. Buildings with sun decks or exterior balconies will likely undergo reconstruction to enhance safety and longevity.
All electrical systems within the units will be updated to comply with the 2024 building code standards, including installing new electrical panels (if required), GFCI outlets where appropriate, and 10-year smoke detectors.
To finance these extensive renovations, a special assessment of $700 per month for 207 months has been levied. This assessment covers a $42 million loan that funds the entire project. Upon completion of these improvements, we expect property values to rise significantly, with units likely to escalate into the $400,000s and higher.
Currently, units that have undergone these upgrades are selling for between $350,000 and $400,000. For these completed units, the true cost of the construction will be determined, establishing a new assessment amount for the unit, with the special assessment being re-amortized over 15 years. The buyer can choose to pay off this assessment in full to save on interest or continue making payments to the association. They may also opt to finance the amount through their own finance company if better rates are available.
For units that have completed their repairs and received their trued-up special assessment amount, the special assessment will be paid off in full at closing by the seller, with the amount factored into the asking price. Sellers have been contributing to the special assessment since 2016, with approximately $31,000 already paid toward it, which remains with the unit upon sale.
In summary, purchasing a unit now offers a great opportunity for future equity growth once the community's renovations are complete. We recently had a comparable sale to 849 Northwest 31st Way, which closed for $330,000 in cash in the second week of June.
Thank you for considering the Townhouses at Jacaranda. I look forward to seeing you at the closing table.

post id: 7753834618

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