Rare opportunity to acquire income-producing duplex (2 1/1s) w/ additional development capacity in Fort Lauderdale's rapidly developing Studio City at over 30% below market value. Keep the existing duplex (w/separate water & electric meters) & add 8 units for 10 units total. Included site plan shows layout, parking, & access.… Read More Meeting with city has been held; feasibility & zoning compliance confirmed. Land comps:$91k-$117k per unit sold, $129k-$162k per unit active. Active & sold multifamily comps:$200k(not renovated)-$320k(renovated) per unit. Subject property: partially renovated duplex + 8 units of buildable land; market value ~$1.2M. 1 bed rents:$1.6k-$2.3k/mo. Build cost ~$1.2M. All in:~$2M. Projected value:$3M+ = $1M+ equity. Potential ~10% cap. Opportunity zone. Seller will finance. Read Less
Courtesy of United Realty Group Inc., Michael J Sheer, 954-450-2000.
Listing Snapshot
Days Online
12
Last Updated
Property Type
Multi Family
Square Ft.
1,053
Lot Size
0.23 Acres
Year Built
1957
MLS Number
B26033810
Additional Details
Building
Built in 1957, Construction materials: "CBS", "Concrete Block - With Stucco", "Stucco", Toal building area: 1053, 2 total units
Cooling
"Ceiling Fan(s)", "Wall/Window Unit(s)"
Fence
"Wood"
Floors
"Terrazzo"
Heating
"Window/Wall"
Lot
0.23 acres
Parking
"Assigned", "Covered", "Guest", "Accessible Parking", 11 total parkings
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed.
Confirm your time
Fill in your details and we will contact you to confirm a time.
