1521 2Nd Ct Fort Lauderdale, FL 33301

Property Details for 1521 2Nd Ct

Year built

1961

Property size

5,006 SF

Property type

Commercial real estate

Description

This exceptional 8-unit multifamily property, located at 1521 SE 2nd Ct #8 in Fort Lauderdale, Florida, presents a compelling investment opportunity. Boasting a total of 5,000 square feet, the property was built in 1961 and underwent significant renovations. The unit mix comprises seven one-bedroom, one-bathroom units and one spacious two-bedroom, one-bathroom unit. Many units feature updated flooring, kitchen cabinets, and bathrooms, enhancing both aesthetics and functionality. The exterior has been freshly painted, contributing to the property's curb appeal and structural integrity. A 40-year re-certification was completed in 2022, ensuring compliance and long-term value. Currently enjoying high occupancy, the property projects an annual income exceeding $172,000, translating to a 6.5% capitalization rate. The potential for even higher returns exists through strategic management, such as utilizing the property as a vacation rental. The asking price is $1,900,000, and seller financing is available with attractive terms, making this a truly turnkey investment in a prime Fort Lauderdale location, steps from Las Olas Boulevard's vibrant shopping and dining scene and close proximity to the beach. The property is situated in Broward County, Florida, zip code 33301.