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    1124 5Th Ave Fort Lauderdale, FL 33304

    For Sale
    $1,350,000

    Six-unit property, prime location, strong rental income.

    Description

    Added:
    Jan 24, 2025
    Days on Market:
    318
    This exceptional investment opportunity presents a six-unit multi-family property located at 1124 NE 5th Avenue, Fort Lauderdale, Florida, 33304. Built in 1951, this property offers a compelling blend of immediate income and significant upside potential. The property currently boasts five of six units rented, generating consistent cash flow. Each unit is equipped with individual water and electric meters, simplifying utility management and tenant billing. Three units have undergone recent renovations, while three others present an opportunity for value-add improvements. A notable feature is a detached three-bedroom unit, currently without a kitchen, providing a blank canvas for creative customization and increased rental income. This unit also benefits from newly installed impact windows and doors. Further enhancing the property's value, a new roof was installed in 2020. The property's enviable location within walking distance of Wilton Manors and Wilton Drive's vibrant shops and restaurants, coupled with its proximity to Las Olas, Flagler Village, and Victoria Park, ensures high tenant demand and strong rental rates. This property is being offered for sale at $1,350,000. The seller is also offering two additional duplexes for sale, presenting a unique opportunity for portfolio expansion with the potential to purchase all three properties together. This is a rare chance to acquire a well-situated, income-generating property in a highly desirable Fort Lauderdale location.

    Property Features for 1124 5Th Ave

    General Information

    Property type
    Specialty properties

    Building Details

    Year Built
    1951
    Units
    6

    HighLights

    • $1,350,000 asking price for a special purpose property.
    • Six‑unit property with separate utilities.
    • Three units renovated, three needing updates.
    • One three‑bedroom unit offers customization potential; new impact windows and doors being installed.
    • New roof installed in 2020.
    • Five of six units currently rented.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.139254
    Latitude
    26.1396445

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    FAQs

    What type of property is this?
    Specialty property - Six-unit property, prime location, strong rental income.
    Where is this specialty property located?
    The property is located at 1124 5Th Ave Fort Lauderdale, FL.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: $1,350,000 asking price for a special purpose property.; Six-unit property with separate utilities.; Three units renovated, three needing updates.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1124 5Th Ave Fort Lauderdale, FL 33304
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