720 Harris Ter Fort Lauderdale, FL 33311
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 720 Harris Ter
- Year built
- 1965
- Property type
- Commercial real estate
Description
This exceptional eight-unit multifamily property, located at 720 Harris Terrace #8 in Fort Lauderdale, Florida (zip code 33311), presents a compelling investment opportunity. Built in 1965, this single-story building underwent a complete gut renovation in 2023, with all work completed under permit. The renovation included brand new electrical systems, air conditioning units, a resurfaced parking lot, a new motorized gate, updated light fixtures, and a completely new roof installed just two weeks prior to listing. The property comprises seven studio units and one two-bedroom, one-bathroom unit. Current rental income ranges from $1250 to $1400 per month for the studios and $1900 per month for the two-bedroom unit. Sitting on an expansive approximately 11,000 square foot lot, this property offers significant potential for future redevelopment, particularly given its location in a rapidly growing area. The proximity to the ongoing Sistrunk Avenue redevelopments positions this investment for substantial long-term appreciation. The asking price for this turnkey investment is $1,150,000.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fort Lauderdale
- County
- Broward
- State
- Florida
- Longitude
- -80.175475
- Latitude
- 26.1321134
