1545 Miami RdFort Lauderdale, FL 33316

Property Details for 1545 Miami Rd

Year built

1973

Property size (Sq ft)

13,821 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 18-unit apartment building, Los Arcos Apartments, presents a compelling investment opportunity in Fort Lauderdale's desirable Harbordale neighborhood. Located at 1545 Miami Rd, Fort Lauderdale, FL 33316, this property boasts 13,821 square feet on a 20,020 square foot lot and features a mix of one- and two-bedroom units, including a spacious three-bedroom, two-bathroom townhome. Many units offer private walled patios, enhancing resident appeal. Amenities include a swimming pool and central air conditioning, highly valued by annual residents. The building, constructed in 1973, recently passed its Building Safety Inspection in July 2024. With 21 parking spaces and a convenient location near the beach, airport, convention center, port, Broward Medical Center, Las Olas Boulevard, Whole Foods, and abundant shopping and dining on SE 17th Street Causeway, this property offers exceptional convenience. The current owner has maintained below-market rents, presenting significant potential for rental income growth. The asking price is $5,295,000, representing a price per unit of $294,167 and a price per square foot of $383.11. The pro-forma NOI is $327,522, yielding a 6.19% cap rate. The property is zoned RMM25. A gated entrance leads to a beautiful courtyard. Serious inquiries only

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.1022

Longitude

-80.1344

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