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    1124 NE 5Th Ave Fort Lauderdale, FL 33304

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    For Sale
    $1,750,000

    Eight-unit property with renovation and income potential near Wilton Manors.

    Lot size:
    0.47 Acres

    Property Features for 1124 NE 5Th Ave

    General Information

    Lot size
    0.47 Acres

    Building Details

    Year built
    1951

    Source: Coldwell Banker Realty Agent Karen Sneed

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Income Property Near Wilton Manors

    This income-producing property features eight units, each equipped with separate water and electric meters. Five of the units have been recently renovated, while the remaining three require updating. A detached three-bedroom unit is undergoing kitchen and bath renovations to maximize rental potential, with new impact windows and doors being installed. A new roof was installed in 2020. Currently, seven of the eight units are rented, providing a steady income stream. The property is located within walking distance of the shops and restaurants of Wilton Manors and Wilton Drive. It is also situated close to Las Olas, Flagler Village, and Victoria Park, enhancing its desirability for tenants. The sale includes two side-by-side parcels of land, totaling half an acre. The first parcel accommodates a six-plex, while the second parcel holds a duplex.
    Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    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
    -80.1487953
    Latitude
    26.139457

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    FAQs

    What type of property is this?
    Apartment building - Eight-unit property with renovation and income potential near Wilton Manors.
    Where is this apartment building located?
    The property is located at 1124 NE 5Th Ave Fort Lauderdale, FL.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: - Income-producing property with 7 of 8 units currently rented.; - Located within walking distance to Wilton Manors and Wilton Drive shops and restaurants.; - Includes two side-by-side parcels totaling half an acre.
    (954) 655-7653
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    1124 NE 5Th Ave Fort Lauderdale, FL 33304
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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 NE 5Th Ave Fort Lauderdale, FL 33304
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