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    1129 NE 16Th Ave, Unit 1-5 Fort Lauderdale, FL 33304

    For Sale
    $1,279,000

    Six-unit property near beach and downtown Fort Lauderdale.

    Lot size:
    0.16 Acres

    Property Features for 1129 NE 16Th Ave

    General Information

    Lot size
    0.16 Acres

    Building Details

    Year built
    1964

    Source: RE/MAX Select Group Agent Tony Vurro

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

    Overview

    Six-Unit Residential Income Property

    This residential income property is legally configured as a five-unit building but is currently operated with six units. The unit mix includes four one-bedroom, one-bathroom units, one efficiency unit, and one two-bedroom, one-bathroom unit. A separate laundry room is available, providing an opportunity for additional income. The building is equipped with impact windows. The property is located close to the beach and downtown. It is suitable for either owner occupancy or use as an Airbnb. The building has separate electrical meters. The owner is responsible for water, sewer, and garbage expenses. The current gross annual income is $99,600, with a potential income of $117,600, supported by long-term, stable tenants.
    Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.1280802
    Latitude
    26.1401675

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    FAQs

    What type of property is this?
    Apartment building - Six-unit property near beach and downtown Fort Lauderdale.
    Where is this apartment building located?
    The property is located at 1129 NE 16Th Ave, Unit 1-5 Fort Lauderdale, FL.
    What is the asking price?
    The asking price for this property is $1,279,000.
    What are key features of this property?
    This property features: - Legal 5-unit building operating as a 6-unit, maximizing rental potential; - High gross annual income of $99,600 with potential to reach $117,600; - Excellent location close to the beach and downtown
    (954) 382-0999
    Request Owner's contact information
    1129 NE 16Th Ave, Unit 1-5 Fort Lauderdale, FL 33304
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    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
    1129 NE 16Th Ave, Unit 1-5 Fort Lauderdale, FL 33304
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