720 Harris TerFort Lauderdale, FL 33311

Property Details for 720 Harris Ter

Year built

1965

Property type

Apartment buildings

Property subtype

Small apartment buildings

Description

This exceptional 8-unit apartment building presents a lucrative investment opportunity in the thriving Fort Lauderdale market. Located at 720 Harris Terrace, in Broward County, FL 33311, this single-story, 1965-built property boasts a substantial 11,000 square foot lot, offering significant potential for future redevelopment. The building comprises seven studios and one two-bedroom, one-bathroom unit. Studios currently command monthly rents ranging from $1250 to $1400, while the two-bedroom unit rents for $1900 per month. Undergoing a complete gut renovation in 2023, the property features brand new electrical systems, air conditioning units, a freshly paved parking lot, a motorized gate, updated light fixtures, and a recently replaced roof (completed approximately two weeks prior to listing). This meticulously maintained property is situated in a rapidly developing area, benefiting from the proximity to the ongoing Sistrunk Boulevard redevelopments, promising continued appreciation in value. The asking price for this turnkey investment is $1,150,000. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a prime location poised for significant future growth.

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.1321

Longitude

-80.1755

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