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1118 31St Ave Fort Lauderdale, FL 33311

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For Sale
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16-Unit Apartment Building, High ROI

Property Features for 1118 31St Ave

General Information

Property type
Multifamily properties

Building Details

Year Built
1956
Stories
2

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Listing Contact
Issabella Silverstein
Issabella Silverstein

Listing Agent: Issabella Silverstein

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

This exceptional 16-unit multifamily property in Fort Lauderdale, Florida, presents a compelling investment opportunity. Located at 1118 NW 31 Av, 33311, this two-story, 1956-built apartment building offers a blend of immediate income and significant upside potential. The property currently comprises 14 studios and 2 one-bedroom apartments, generating substantial rental income. Financial projections indicate a minimum annual net operating income (NOI) of $219,400, representing an 11.2% capitalization rate. Further enhancing its value, the property includes four additional shell-condition studio apartments with existing plumbing, offering the possibility of expanding the unit count and rental revenue. Recent renovations include the installation of impact windows and a new roof, minimizing future maintenance costs. The property's strategic location in Broward County provides easy access to Fort Lauderdale's vibrant amenities and strong rental market. This is an ideal investment for those seeking a high-yield, multifamily asset with immediate cash flow and the potential for future growth. The property is well-suited for various operational models, including traditional multifamily rentals, short-term rentals (Airbnb), or even a motel conversion. This turnkey investment is ready for a new owner to capitalize on its existing income and unlock its full potential.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Small apartment buildings

Suggested Use

Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

Location Insight

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  • Local Demand
City
Fort Lauderdale
County
Broward
State
Florida
Longitude
-80.1863749
Latitude
26.1385925

FAQs

What type of property is this?
Multifamily property - 16-Unit Apartment Building, High ROI
Where is this multifamily property located?
The property is located at 1118 31St Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,500,000.
(305) 444-7111 Call to check price and availability
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