1896 41St AveFort Lauderdale, FL 33317

Property Details for 1896 41St Ave

Year built

1974

Lot size

0.16 AC

Property size (Sq ft)

3,561 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a 4-unit apartment building in Fort Lauderdale, Florida. The property, built in 1974, boasts 3,561 square feet of net rentable space, situated on a 0.16-acre lot. The building is a two-story concrete block structure, featuring four spacious two-bedroom, one-bathroom units, each measuring 890 square feet. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $64,254, with a projected NOI of $74,046. The asking price is $1,065,000, representing a current cap rate of 6.03% and a pro-forma cap rate of 6.95%. The property's prime location in Broward County offers convenient access to major thoroughfares like US-441, Interstate 595, and Davie Boulevard, placing it near Downtown Fort Lauderdale, Central Broward Regional Park, and the Thunderbird Swap Shop. This value-add opportunity allows for potential rent increases to market rates, maximizing returns. The property is offered fee simple. Each unit is priced at $266,250. This is a rare chance to acquire a well-located, cash-flowing multifamily asset in a strong rental market with limited competition.

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.0968

Longitude

-80.2022

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