739 2Nd AveFort Lauderdale, FL 33311

Property Details for 739 2Nd Ave

Year built

2017

Property size (Sq ft)

3,418 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents two attached, identical twin homes situated in Fort Lauderdale's rapidly developing Progresso/Flagler Village neighborhood. Built in 2017 and renovated the same year, each home boasts 1,708 square feet, offering three bedrooms and two bathrooms. Modern features include updated kitchens and bathrooms, one-car garages, and impact windows. The combined square footage totals 3,418 square feet on a 6,992 square foot lot. Currently generating a strong NOI of $56,000, resulting in a 5.20% cap rate (5.00% pro-forma), this stabilized investment offers a compelling return. Each unit commands an average monthly rent of $3,500, totaling $6,600 per month. The property is zoned RMM-25 and features two buildings, each one story high. The asking price for this portfolio is $1,060,000, or $540,000 per unit, and represents a price per square foot of $315. Located at 739 and 741 NW 2nd Ave, Fort Lauderdale, FL 33311, this property benefits from its proximity to thriving arts districts, Flagler Village, and the Brightline station. The area is experiencing significant growth, with numerous new construction projects underway, including a substantial mixed-use development slated for completion in 2027. This presents a rare chance to acquire a high-performing, multifamily asset in a prime location poised for continued appreciation. The property's APN is 494234070511.

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.1328

Longitude

-80.1461

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