320 Hendricks IsleFort Lauderdale, FL 33301
- Apartment buildings
- 7,702 SF
Property Details for 320 Hendricks Isle
- Lot size
- 0.28 AC
- Property size (Sq ft)
- 7,702 SF
- Property type
- Apartment buildings
Description
This exceptional value-add investment opportunity presents two, two-story apartment buildings totaling 7,702 square feet situated on a 0.28-acre lot (100ft x 125ft) in desirable Fort Lauderdale, Florida (33301). The property, encompassing addresses 320 and 322 Hendricks Isle, boasts six units currently operating as Airbnbs, offering immediate income potential. With RMM-25 zoning, the property presents significant upside potential. The buildings, constructed in 1970 and 1976, offer ten parking spaces and a remarkable amenity: six boat slips, providing unparalleled access to the waterways. The property's prime location offers direct access to both downtown Fort Lauderdale and Las Olas Beach. The asking price is $4,400,000, representing a price per square foot of $571.28 and a price per unit of $733,333.33. The current Net Operating Income (NOI) stands at $185,476, yielding a 4.22% cap rate. This is a rare opportunity to acquire a multifamily property with significant upside in a highly sought-after location. The property is ground lease free and includes APNs 50-42-02-19-0780 and 504202190760.
Location Insight
- City
- Fort Lauderdale
- County
- Broward
- State
- Florida
- Latitude
- 26.1263
- Longitude
- -80.1218
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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