1124 5Th AveFort Lauderdale, FL 33304

Property Details for 1124 5Th Ave

Year built

1951

Property type

Specialty properties

Property subtype

Other specialty properties

Description

This exceptional investment opportunity presents a six-unit multi-family property located at 1124 NE 5th Avenue, Fort Lauderdale, Florida, 33304. Built in 1951, this property offers a compelling blend of immediate income and significant upside potential. The property currently boasts five of six units rented, generating consistent cash flow. Each unit is equipped with individual water and electric meters, simplifying utility management and tenant billing. Three units have undergone recent renovations, while three others present an opportunity for value-add improvements. A notable feature is a detached three-bedroom unit, currently without a kitchen, providing a blank canvas for creative customization and increased rental income. This unit also benefits from newly installed impact windows and doors. Further enhancing the property's value, a new roof was installed in 2020. The property's enviable location within walking distance of Wilton Manors and Wilton Drive's vibrant shops and restaurants, coupled with its proximity to Las Olas, Flagler Village, and Victoria Park, ensures high tenant demand and strong rental rates. This property is being offered for sale at $1,350,000. The seller is also offering two additional duplexes for sale, presenting a unique opportunity for portfolio expansion with the potential to purchase all three properties together. This is a rare chance to acquire a well-situated, income-generating property in a highly desirable Fort Lauderdale location.

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.1396

Longitude

-80.1393

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