2121 51St Ct Fort Lauderdale, FL 33308

This exceptional Class A, stabilized multifamily investment opportunity presents a fully renovated, resort-style triplex located in desirable East Fort Lauderdale, just minutes from the beach. Boasting 10,890 square feet on a 0.25-acre lot, this property features three units (each approximately 2,500 net rentable square feet) with a current occupancy of 67%, projected to reach full occupancy by October 25, 2024. The 1964-built property underwent a complete renovation in 2024, including a new roof, impact windows, updated kitchens and bathrooms, new AC units, and new flooring. Amenities include a private, fully fenced pool and two newly repaved driveways accommodating up to six vehicles. The property offers a strong current NOI of $82,200, with a pro-forma NOI of $94,500, resulting in a current cap rate of 6.33% and a pro-forma cap rate of 7.27%. The asking price is $1,299,000 ($433,000 per unit and $119.28 per square foot). Zoned RD-15, this property is ideal for investors seeking a value-add opportunity or a 1031 exchange, offering a blend of luxury living and high rental income potential in a thriving market near local dining, shopping, and entertainment. The property also includes 2,500 square feet of air rights.