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    1106 5Th Ave Fort Lauderdale, FL 33304

    For Sale
    $1,424,999

    Five-Unit Building, Prime Location

    Property size:
    3,754 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional multifamily property, located at 1106 NE 5th Ave #5 in Fort Lauderdale, Florida, presents a compelling investment opportunity. The 3,754 square foot building, constructed in 1980, boasts five legally permitted units generating substantial rental income. Three one-bedroom units command $1,800 per month in rent, while two two-bedroom units rent for $2,400 per month. All units are currently leased under one-year agreements, ensuring immediate cash flow. Significant recent improvements include a roof replacement completed in 2020, and the property has successfully passed its 40-year certification. The building is equipped with six individual electric meters and a single water meter, simplifying utility management. Tenant convenience is enhanced by a coin-operated washer and dryer, and each unit includes designated private parking. Situated in the desirable Lake Ridge area, this property enjoys unparalleled proximity to Las Olas Boulevard, Victoria Park, and Flagler Village, offering residents easy access to a vibrant array of shopping, dining, and entertainment options. This prime location ensures high tenant demand and strong rental rates. This well-maintained property represents a rare opportunity to acquire a stable, income-generating asset in a thriving Fort Lauderdale neighborhood. The property's zip code is 33304, and its Broward County location provides further investment appeal.

    Property Features for 1106 5Th Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,754 SF

    Building Details

    Year Built
    1980

    HighLights

    • Exceptional 5‑unit multifamily investment property in Fort Lauderdale's desirable Lake Ridge area (33304).
    • 3,754 sq ft building constructed in 1980, recently passed its 40‑year certification and boasts a new roof (2020).
    • Five legally permitted units: three 1‑bedroom units ($1,800/month rent each) and two 2‑bedroom units ($2,400/month rent each). All units currently leased.
    • Strong cash flow with individual electric meters (six) and one water meter; coin‑operated laundry; private parking per unit.
    • Prime location near Las Olas Boulevard, Victoria Park, and Flagler Village, ensuring high occupancy and rental rates.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.1392372
    Latitude
    26.1390891

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    FAQs

    What type of property is this?
    Multifamily property - Five-Unit Building, Prime Location
    Where is this multifamily property located?
    The property is located at 1106 5Th Ave Fort Lauderdale, FL.
    What is the asking price?
    The asking price for this property is $1,424,999.
    What are key features of this property?
    This property features: Exceptional 5-unit multifamily investment property in Fort Lauderdale's desirable Lake Ridge area (33304).; 3,754 sq ft building constructed in 1980, recently passed its 40-year certification and boasts a new roof (2020).; Five legally permitted units: three 1-bedroom units ($1,800/month rent each) and two 2-bedroom units ($2,400/month rent each). All units currently leased.
    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
    1106 5Th Ave Fort Lauderdale, FL 33304
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