1241 16Th TerFort Lauderdale, FL 33304

Property Details for 1241 16Th Ter

Year built

1969

Property type

Specialty properties

Property subtype

Other specialty properties

Description

This exceptional eight-unit multifamily property presents a compelling investment opportunity in the heart of Fort Lauderdale, Florida. Located at 1241 NE 16th Terrace, 33304, this 1969-built property offers a diverse mix of seven conforming units and one non-conforming unit, catering to a wide range of tenants. The unit configuration includes three studios, three one-bedroom/one-bathroom apartments, and a larger three-bedroom/two-bathroom residence, ensuring a balanced tenant profile. Currently fully leased, this asset provides immediate and substantial rental income, supported by a history of long-term, reliable tenants. Adding to the property's financial appeal is an on-site, coin-operated laundry facility, generating additional passive income and enhancing the overall return on investment. The asking price for this turnkey multifamily property is $2,000,000. The lot size is not specified. This property represents a rare chance to acquire a well-maintained, income-producing asset in a highly desirable Fort Lauderdale location. Its diverse unit mix, strong tenant occupancy, and supplemental laundry income stream make it an attractive proposition for discerning investors seeking stable cash flow and potential appreciation. The property's central location within Fort Lauderdale offers easy access to local amenities, transportation, and employment centers, further enhancing its appeal and long-term value.

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.1424

Longitude

-80.1272

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