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    720 Harris Ter Fort Lauderdale, FL 33311

    Sponsored
    For Sale
    $1,150,000

    8-Unit Apartment Building, Prime Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 8-unit apartment building presents a lucrative investment opportunity in the thriving Fort Lauderdale market. Located at 720 Harris Terrace, in Broward County, FL 33311, this single-story, 1965-built property boasts a substantial 11,000 square foot lot, offering significant potential for future redevelopment. The building comprises seven studios and one two-bedroom, one-bathroom unit. Studios currently command monthly rents ranging from $1250 to $1400, while the two-bedroom unit rents for $1900 per month. Undergoing a complete gut renovation in 2023, the property features brand new electrical systems, air conditioning units, a freshly paved parking lot, a motorized gate, updated light fixtures, and a recently replaced roof (completed approximately two weeks prior to listing). This meticulously maintained property is situated in a rapidly developing area, benefiting from the proximity to the ongoing Sistrunk Boulevard redevelopments, promising continued appreciation in value. The asking price for this turnkey investment is $1,150,000. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a prime location poised for significant future growth.

    Property Features for 720 Harris Ter

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1965
    Stories
    1
    Units
    8

    HighLights

    • $1,150,000 asking price for an 8‑unit multifamily property.
    • Eight‑unit apartment building, consisting of seven studios and one two‑bedroom/one‑bathroom unit.
    • Recently completed gut renovation including new electrical, A/C units, parking lot, motorized gate, light fixtures, and roof.
    • Large 11,000 sq ft lot with redevelopment potential.
    • Located in Fort Lauderdale, FL (33311), in an area experiencing growth near Sistrunk Avenue redevelopments.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    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 - 8-Unit Apartment Building, Prime Location
    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: $1,150,000 asking price for an 8-unit multifamily property.; Eight-unit apartment building, consisting of seven studios and one two-bedroom/one-bathroom unit.; Recently completed gut renovation including new electrical, A/C units, parking lot, motorized gate, light fixtures, and roof.
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    720 Harris Ter 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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