50 12Th StFort Lauderdale, FL 33316

Property Details for 50 12Th St

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a 24-unit apartment building in Fort Lauderdale, Florida, situated at 50 SE 12th St, 33316. The property, classified as a Class B multifamily asset, boasts a substantial net rentable area of 12,350 square feet on a 21,300 square foot lot. Currently operating at 95% occupancy, the building generates a significant net operating income (NOI) of $463,586, translating to an attractive 8.13% capitalization rate. The asking price is $5,700,000, representing a price per unit of $237,500. The building features a mix of unit types, including 23 recently renovated one-bedroom units and one spacious two-bedroom unit. Convenient amenities include on-site laundry facilities and a swimming pool. Each unit includes dedicated parking, with 24 spaces available in total. The two-story building is located in the desirable Poinciana Park neighborhood, offering residents proximity to Las Olas Boulevard and Fort Lauderdale Beach, as well as easy access to public transportation. This sale/leaseback investment presents a compelling opportunity to acquire a well-maintained, high-performing multifamily property in a prime Florida location. The strong NOI and high occupancy rate demonstrate the property's consistent rental income potential.

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.1071

Longitude

-80.142

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].