842 1St AveFort Lauderdale, FL 33311

Property Details for 842 1St Ave

Year built

1974

Property size (Sq ft)

4,753 SF

Property type

Commercial real estate

Description

This exceptional 8-unit multifamily property, located at 842 NW 1st Ave, Fort Lauderdale, FL 33311, is offered at $2,049,000. Built in 1974, this two-story building boasts a total of 4,753 square feet. The property has undergone renovations, resulting in a currently strong cash flow stream. Investors will appreciate the potential for rental growth, given the increasing demand for multifamily units in Fort Lauderdale. The property's location in Progresso Village, conveniently situated off Andrews Avenue and Sunrise Boulevard, offers excellent access to major thoroughfares and amenities. Furthermore, the area is experiencing a transition to higher-density zoning, presenting significant opportunities for future appreciation. This presents a solid long-term investment opportunity in a thriving market. The property's existing cash flow, combined with the potential for future growth and appreciation, makes this an attractive proposition for discerning investors seeking a stable and profitable multifamily asset in a prime Fort Lauderdale location. The property's size and location within Broward County make it an ideal investment for both experienced and emerging investors in the multifamily sector.

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.1347

Longitude

-80.1448

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