For Sale
$1,060,000

739 2Nd AveFort Lauderdale, FL 33311

Two 2017-built homes, high rental income.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents two attached, identical twin homes situated in Fort Lauderdale's rapidly developing Progresso/Flagler Village neighborhood. Built in 2017 and renovated the same year, each home boasts 1,708 square feet, offering three bedrooms and two bathrooms. Modern features include updated kitchens and bathrooms, one-car garages, and impact windows. The combined square footage totals 3,418 square feet on a 6,992 square foot lot. Currently generating a strong NOI of $56,000, resulting in a 5.20% cap rate (5.00% pro-forma), this stabilized investment offers a compelling return. Each unit commands an average monthly rent of $3,500, totaling $6,600 per month. The property is zoned RMM-25 and features two buildings, each one story high. The asking price for this portfolio is $1,060,000, or $540,000 per unit, and represents a price per square foot of $315. Located at 739 and 741 NW 2nd Ave, Fort Lauderdale, FL 33311, this property benefits from its proximity to thriving arts districts, Flagler Village, and the Brightline station. The area is experiencing significant growth, with numerous new construction projects underway, including a substantial mixed-use development slated for completion in 2027. This presents a rare chance to acquire a high-performing, multifamily asset in a prime location poised for continued appreciation. The property's APN is 494234070511.

Highlights

  • Exceptional investment opportunity: Two identical, 2017-built twin homes in Fort Lauderdale's Progresso/Flagler Village.
  • Each home features 1,708 sq ft, 3 bedrooms, 2 baths, updated kitchens & baths, 1-car garage, & impact windows.
  • Combined 3,418 sq ft on a 6,992 sq ft lot, generating a $56,000 NOI and a 5.20% cap rate (5.00% pro-forma).
  • Currently leased for $6,600/month ($3,500/unit), with a $1,060,000 asking price ($540,000/unit, $315/sq ft).
  • Located at 739 & 741 NW 2nd Ave, Fort Lauderdale, FL 33311, near arts districts, Flagler Village, and Brightline. APN: 494234070511.

Property Details for 739 2Nd Ave

Property type
Residential income homes
Square Feet
3,418 SF
Class
B
Year Built/Renovated
2017/2017
Buildings
2
Stories
1
Units
2

Location Insight

City
Fort Lauderdale
County
Broward
State
Florida
Latitude
26.1327973
Longitude
-80.1461311
739 2Nd Ave, Fort Lauderdale, Florida

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739 2Nd Ave
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