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    824 16Th St Fort Lauderdale, FL 33304

    For Sale
    $1,050,000

    Five-unit apartment building, prime location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional investment opportunity presents a five-unit apartment building ideally situated in the desirable Wilton Manors area of Fort Lauderdale, Florida, at 824 NE 16th Street, zip code 33304. The property, built in 1970, boasts a strategic corner lot location off Dixie Highway, offering excellent visibility and accessibility. The building comprises four one-bedroom, one-bathroom units and one two-bedroom, two-bathroom unit, providing a diverse mix of rental options. Recent significant improvements enhance the property's value and appeal. These include a brand-new roof installed in August 2024, fresh exterior paint applied in September 2024, and recently completed parking lot repairs also in September 2024. Further adding to the income potential, the property features an on-site coin-operated laundry facility for tenant convenience. Offered at $1,050,000, this multifamily property represents a compelling investment opportunity in a thriving Florida market. The lot size is not specified. This is a special purpose property.

    Property Features for 824 16Th St

    General Information

    Property type
    Specialty properties

    Building Details

    Year Built
    1970
    Units
    5

    HighLights

    • $1,050,000 asking price.
    • Five‑unit apartment building.
    • Located in Fort Lauderdale, FL, near Wilton Manors.
    • Four 1‑bedroom/1‑bathroom units and one 2‑bedroom/2‑bathroom unit.
    • Brand new roof (August 2024), new exterior paint (September 2024), and recent parking lot repairs (September 2024).
    • On‑site coin‑operated laundry.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.1349248
    Latitude
    26.1473335

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    FAQs

    What type of property is this?
    Specialty property - Five-unit apartment building, prime location.
    Where is this specialty property located?
    The property is located at 824 16Th St Fort Lauderdale, FL.
    What is the asking price?
    The asking price for this property is $1,050,000.
    What are key features of this property?
    This property features: $1,050,000 asking price.; Five-unit apartment building.; Located in Fort Lauderdale, FL, near Wilton Manors.
    Request Owner's contact information
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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
    824 16Th St Fort Lauderdale, FL 33304
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