2613 18Th Ter Oakland Park, FL 33311

Property Details for 2613 18Th Ter

Year built

1967

Lot size

0.39 lot acres

Property size

5,415 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a 5-unit multifamily apartment building in Oakland Park, Florida. The property boasts a total of 5,415 square feet situated on a 0.39-acre lot, zoned R-1 Residential with a 5 du/ac density. Built in 1967, this one-story building offers a mix of unit floor plans, providing flexibility for potential upgrades and increased rental income. The property benefits from a prime location, just one mile from I-95 and four miles from Tri-Rail, ensuring convenient access to major transportation arteries. Its proximity to Oswald Park and Golf Course enhances tenant appeal, while its location near a major retail corridor featuring stores like Home Depot, Lowe's, Publix, and Walgreens provides residents with ample amenities. The surrounding area is experiencing significant growth and gentrification, leading to steadily increasing market rents, currently averaging $2.65 per square foot or higher. The property's excellent accessibility extends to US-1 and Florida's Turnpike, facilitating easy commuting throughout Broward County. Furthermore, its proximity to Fort Lauderdale-Hollywood International Airport (10.4 miles) and Miami International Airport (36 miles) adds to its strategic location. This property offers a compelling value-add opportunity for discerning investors seeking strong returns in a thriving market. The current cap rate is 7.92%. The property includes a large surface parking lot.