817 18Th AveFort Lauderdale, FL 33304

Property Details for 817 18Th Ave

Year built

1954

Property size (Sq ft)

2,270 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional value-add opportunity presents a 5-unit apartment building located at 817 NE 18th Ave, Fort Lauderdale, FL 33304, in Broward County. The property boasts a total of 2,270 square feet situated on a 0.15-acre lot and features a desirable RMM-25 zoning classification. Built in 1954, this single-story building comprises five units, generating a current monthly rent roll of $8,995, resulting in a strong Net Operating Income (NOI) of $56,672 and a 5.16% capitalization rate. The asking price is $1,099,000, translating to $219,800 per unit. Ample parking is available with six spaces on-site. The property's location in Fort Lauderdale offers significant potential for appreciation and increased rental income. This is an ideal investment for those seeking a strong return on investment in a thriving Florida market. The property's existing structure presents a solid foundation for value-add improvements, allowing for potential rental increases and enhanced property value. The APN is 4942 34 05 9241. This is a rare opportunity to acquire a well-located multifamily property with significant upside potential.

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Latitude

26.1345

Longitude

-80.1222

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