37 14Th St Dania Beach, FL 33004

This exceptional 20-unit apartment building in Dania Beach, Florida presents a compelling investment opportunity. The property, situated on a 0.37-acre lot at 37 SW 14th St, boasts 12,374 square feet of net rentable space within a two-story building constructed in 1970. The complex features a mix of one and two-bedroom units, with 100% recently renovated interiors including new kitchens, bathrooms, vinyl flooring, granite countertops, and stainless steel appliances. Amenities include a fenced pool with a new pump, outdoor LED lighting and security cameras, a gated private courtyard, and 23 parking spaces plus 12 tandem spaces. The building has undergone significant upgrades, including updated electrical and PVC plumbing, a resealed roof with a new metal mansard, and a recently resealed parking lot. The current occupancy rate is 97%, with a Net Operating Income (NOI) of $262,411 and a pro-forma NOI of $328,790, resulting in a current cap rate of 6.17% and a pro-forma cap rate of 7.74%. The property's location offers easy access to major transportation arteries, including Federal Highway (US-1), and is conveniently close to Fort Lauderdale-Hollywood International Airport, Port Everglades, and Dania Pointe. The asking price is $4,250,000, or $212,500 per unit. The 40/10-year recertification was completed in 2021. This property offers a strong combination of location, amenities, and financial performance, making it an attractive investment prospect.