1236 4Th Ave, Fort Lauderdale, FL 33311

This exceptional 6-unit apartment building in Fort Lauderdale, Florida presents a compelling value-add opportunity. Located at 1236 NW 4th Ave, in the South Middle River neighborhood, this property boasts a total of 4,207 square feet of net rentable space across three studios, one 1-bedroom/1-bathroom, one 2-bedroom/1-bathroom, and one 3-bedroom/2-bathroom unit. Built in 1945, the two buildings sit on a sizable 13,503 square-foot lot (approximately 0.31 acres), zoned RD-15, allowing for up to 15 dwelling units per acre. The property's current NOI is $50,348, with a pro-forma NOI projected at $71,723, reflecting a significant potential increase in rental income. This substantial upside is driven by a 22% potential rent increase, further enhanced by three units currently on month-to-month leases. The property's location offers residents convenient access to Sunrise Boulevard's retail offerings and the Galleria at Fort Lauderdale. Furthermore, its designation within a Community Redevelopment Area (CRA) and an Opportunity Zone presents additional investment advantages. The asking price is $900,000, representing a price per unit of $150,000. This property offers a compelling blend of immediate income and significant long-term growth potential.