842 1St AveFort Lauderdale, FL 33311

Property Details for 842 1St Ave

Year built

1973

Property size (Sq ft)

4,753 SF

Property type

Specialty properties

Property subtype

Other specialty properties

Description

This exceptional investment opportunity presents an eight-unit multifamily property located at 842 NW 1st Avenue, Fort Lauderdale, FL 33311. The property, built in 1973, encompasses 4,753 square feet and sits on a lot with the potential for assemblage and rezoning, exceeding 10,000 square feet. Currently configured as eight one-bedroom, one-bathroom units, the property boasts stabilized monthly rents averaging $1,678, providing immediate cash flow. Pro forma rents are projected to exceed $1,900 per month. Significant recent renovations include new front doors, kitchens, exhaust fans, vanities, light fixtures, cabinets, and stone countertops in most units. All units feature walk-in closets. A 40-year certification has been completed. The property is situated in the rapidly developing Progresso and downtown Fort Lauderdale redevelopment district, blocks from planned large-scale residential projects adding over 1000 units. The immediate five-block area has approvals for an additional 2000 residential units. Detailed current and pro-forma cash flow information, along with area redevelopment data, are available in supplemental documents. The property is being sold "as is." Proof of funds or pre-approval is required with any contract. Interior video is available upon request. Please note: Do not disturb tenants; drive-by viewing only.

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.1347

Longitude

-80.1447

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