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    720 Harris Ter Fort Lauderdale, FL 33311

    For Sale
    $1,150,000

    Eight-unit complex, recently renovated

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional eight-unit multifamily property, located at 720 Harris Terrace #8 in Fort Lauderdale, Florida (zip code 33311), presents a compelling investment opportunity. Built in 1965, this single-story building underwent a complete gut renovation in 2023, with all work completed under permit. The renovation included brand new electrical systems, air conditioning units, a resurfaced parking lot, a new motorized gate, updated light fixtures, and a completely new roof installed just two weeks prior to listing. The property comprises seven studio units and one two-bedroom, one-bathroom unit. Current rental income ranges from $1250 to $1400 per month for the studios and $1900 per month for the two-bedroom unit. Sitting on an expansive approximately 11,000 square foot lot, this property offers significant potential for future redevelopment, particularly given its location in a rapidly growing area. The proximity to the ongoing Sistrunk Avenue redevelopments positions this investment for substantial long-term appreciation. The asking price for this turnkey investment is $1,150,000.

    Property Features for 720 Harris Ter

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1965
    Stories
    1

    HighLights

    • Exceptional eight‑unit multifamily property in Fort Lauderdale, FL (33311).
    • Completely renovated in 2023 with new electrical, AC, roof, parking lot, and gate.
    • Seven studio units and one 2‑bedroom/1‑bathroom unit.
    • Monthly rental income ranges from $1250-$1400 (studios) and $1900 (2‑bedroom).
    • Situated on an ~11,000 sq ft lot with redevelopment potential.
    • Asking price: $1,150,000.
    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
    -80.175475
    Latitude
    26.1321134

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    FAQs

    What type of property is this?
    Multifamily property - Eight-unit complex, recently renovated
    Where is this multifamily property located?
    The property is located at 720 Harris Ter Fort Lauderdale, FL.
    What is the asking price?
    The asking price for this property is $1,150,000.
    What are key features of this property?
    This property features: Exceptional eight-unit multifamily property in Fort Lauderdale, FL (33311).; Completely renovated in 2023 with new electrical, AC, roof, parking lot, and gate.; Seven studio units and one 2-bedroom/1-bathroom unit.
    Request Owner's contact information
    720 Harris Ter Fort Lauderdale, FL 33311
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    Fort Lauderdale, FL 33311
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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
    720 Harris Ter Fort Lauderdale, FL 33311
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