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    821 18Th Ct Fort Lauderdale, FL 33305

    For Sale
    $2,000,000

    Five-unit waterfront apartment building, high potential.

    Property size:
    4,492 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional investment opportunity presents a five-unit apartment building situated on a desirable waterfront location in Fort Lauderdale, Florida. The property, built in 1975, boasts 4,492 square feet on an 8,540 square foot lot and is currently operating at 100% occupancy with a mix of one and two-bedroom units. The building is classified as a Class C property, offering significant upside potential for value creation. Currently generating income from annual leases, the property's rents are below market value, presenting an immediate opportunity for increased revenue. The RML-25 zoning allows for the development of up to four additional units, capitalizing on the high demand for new construction in this prime waterfront location. The property's proximity to downtown Wilton Manors (a half-mile walk) further enhances its desirability. The asking price is $2,000,000, translating to $400,000 per unit and $445.24 per square foot. The property's location and zoning provide multiple avenues for value enhancement, including potential for short-term rentals, making it an attractive investment for discerning buyers. The property address is 821 NE 18th Ct, Fort Lauderdale, FL 33305, with APN 4942 35 04 2502. This is a rare opportunity to acquire a well-located multifamily property with substantial growth potential in a thriving South Florida market.

    Property Features for 821 18Th Ct

    General Information

    Property type
    Multifamily properties
    Square Feet
    4,492 SF
    Class
    C

    Building Details

    Year Built
    1975
    Buildings
    1
    Stories
    2
    Units
    5

    HighLights

    • Prime waterfront location on Fort Lauderdale's Middle River Terrace.
    • Walkable to downtown Wilton Manors.
    • Exceptional location; building quality is secondary.
    • Suitable for short‑term rentals.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Aileen O'Brien - Sotheby's ... Real Estate Agent

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.135146
    Latitude
    26.1520995

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    FAQs

    What type of property is this?
    Multifamily property - Five-unit waterfront apartment building, high potential.
    Where is this multifamily property located?
    The property is located at 821 18Th Ct Fort Lauderdale, FL.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: Prime waterfront location on Fort Lauderdale's Middle River Terrace.; Walkable to downtown Wilton Manors.; Exceptional location; building quality is secondary.
    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
    821 18Th Ct Fort Lauderdale, FL 33305
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