1118 NW 31 Av Fort Lauderdale, FL 33311
16-unit multifamily property with renovation and income potential.
Type:Multifamily
- Added:
- Sep 23, 2023
- Days on Market:
- 944
- Last Refresh:
- Mar 17 at 1:24 pm
Property Features for 1118 NW 31 Av
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Building Details
- Year Built
- 1956
Listing agent Issabella Silverstein License #0626609
Listing office RE/MAX Advance Realty
Listing date Sep 23, 2023
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Advance Realty
Overview
Multifamily Investment Opportunity in Fort Lauderdale
This multifamily property in Fort Lauderdale presents an investment opportunity with 16 units, comprising 14 studios and 2 one-bedroom apartments, plus a bonus of 4 shell condition studios with plumbing. The property has been renovated and features impact windows and a new roof. The minimum potential income as a multifamily property is estimated as follows: 14 studios at $1,300 per month, totaling $218,400 annually, and 2 one-bedroom apartments at $1,500 per month, totaling $36,000 annually. After deducting $35,000 in annual expenses, the total net operating income (NOI) is projected to be $219,400 per year, equating to an 11.2% cap rate. The property is suitable for various uses, including multifamily rentals, Airbnb, or a motel.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Short term rental ...
Location Insight
- Map
- Local Demand
- City
- Fort Lauderdale
- County
- Broward
- State
- Florida
- Longitude
- -80.1863305
- Latitude
- 26.1385896
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 16-unit multifamily property with renovation and income potential.
Where is this apartment building located?
The property is located at 1118 NW 31 Av Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: High 11.2% Cap Rate investment opportunity.; Potential for significant income: $219,400 Net Operating Income (NOI) per year.; 16 total units: 14 studios and 2 one‑bedroom apartments.
