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    842 1St Ave Fort Lauderdale, FL 33311

    Sponsored
    For Sale
    $2,079,000

    8-Unit Building, High Growth Area

    Property size:
    4,753 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents an eight-unit multifamily property located at 842 NW 1st Avenue, Fort Lauderdale, FL 33311. The property, built in 1973, encompasses 4,753 square feet and sits on a lot with the potential for assemblage and rezoning, exceeding 10,000 square feet. Currently configured as eight one-bedroom, one-bathroom units, the property boasts stabilized monthly rents averaging $1,678, providing immediate cash flow. Pro forma rents are projected to exceed $1,900 per month. Significant recent renovations include new front doors, kitchens, exhaust fans, vanities, light fixtures, cabinets, and stone countertops in most units. All units feature walk-in closets. A 40-year certification has been completed. The property is situated in the rapidly developing Progresso and downtown Fort Lauderdale redevelopment district, blocks from planned large-scale residential projects adding over 1000 units. The immediate five-block area has approvals for an additional 2000 residential units. Detailed current and pro-forma cash flow information, along with area redevelopment data, are available in supplemental documents. The property is being sold "as is." Proof of funds or pre-approval is required with any contract. Interior video is available upon request. Please note: Do not disturb tenants; drive-by viewing only.

    Property Features for 842 1St Ave

    General Information

    Property type
    Specialty properties
    Square Feet
    4,753 SF

    Building Details

    Year Built
    1973
    Units
    8

    HighLights

    • Asking Price: $2,079,000
    • Special Purpose Property, 4,753 SF
    • Eight (8) units, all 1‑bedroom/1‑bathroom
    • Built in 1973
    • Located at 842 NW 1st Avenue, Fort Lauderdale, FL 33311
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Law Firm 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
    -80.1447337
    Latitude
    26.1347251

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    FAQs

    What type of property is this?
    Specialty property - 8-Unit Building, High Growth Area
    Where is this specialty property located?
    The property is located at 842 1St Ave Fort Lauderdale, FL.
    What is the asking price?
    The asking price for this property is $2,079,000.
    What are key features of this property?
    This property features: Asking Price: $2,079,000; Special Purpose Property, 4,753 SF; Eight (8) units, all 1-bedroom/1-bathroom
    Request Owner's contact information
    842 1St Ave 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
    842 1St Ave Fort Lauderdale, FL 33311
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