1896 41St Ave Fort Lauderdale, FL 33317
- Apartment buildings
- 3,561 SF
- 0.16 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 1896 41St Ave
- Year built
- 1974
- Lot size
- 0.16 lot acres
- Property size
- 3,561 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a 4-unit apartment building in Fort Lauderdale, Florida. The property, built in 1974, boasts 3,561 square feet of net rentable space, situated on a 0.16-acre lot. The building is a two-story concrete block structure, featuring four spacious two-bedroom, one-bathroom units, each measuring 890 square feet. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $64,254, with a projected NOI of $74,046. The asking price is $1,065,000, representing a current cap rate of 6.03% and a pro-forma cap rate of 6.95%. The property's prime location in Broward County offers convenient access to major thoroughfares like US-441, Interstate 595, and Davie Boulevard, placing it near Downtown Fort Lauderdale, Central Broward Regional Park, and the Thunderbird Swap Shop. This value-add opportunity allows for potential rent increases to market rates, maximizing returns. The property is offered fee simple. Each unit is priced at $266,250. This is a rare chance to acquire a well-located, cash-flowing multifamily asset in a strong rental market with limited competition.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fort Lauderdale
- County
- Broward
- State
- Florida
- Longitude
- -80.2022
- Latitude
- 26.0968
