100 21St StFort Lauderdale, FL 33316

This exceptional eight-unit office complex, located at 100 SE 21st Street in Fort Lauderdale, Florida, 33316, presents a compelling investment opportunity. Built in 1977, the property boasts a contemporary style and features a mix of unit sizes: one two-bedroom/one-bathroom unit and seven one-bedroom/one-bathroom units. Each unit includes a private entrance, patio, or balcony, and central air conditioning. The complex offers ample parking with 12 spaces available for both guests and assigned tenants. The total square footage under air is 4,912 square feet, situated on a 14,300 square foot lot. Currently, five of the eight units are on month-to-month leases. Present rental income is below market value, offering significant upside potential. With renovations, the potential gross income is estimated to exceed $175,000 annually, projecting a cap rate of 6% or more. Operating expenses are minimal, benefiting from low landscape maintenance and an on-site laundry facility that generates additional income. The property enjoys an excellent location, minutes from beaches, restaurants, shops, grocery stores, and the expressway. The asking price is $1,850,000, and seller financing is not available.