413 23Rd St Fort Lauderdale, FL 33316
- Apartment buildings
Current Use by Public Records
- Apartment buildings
Property Details for 413 23Rd St
- Year built
- 1951
- Property type
- Apartment buildings
- Property subtype
- Small apartment buildings
Description
This renovated triplex in Fort Lauderdale, Florida, presents a compelling investment opportunity. Located at 413 SE 23rd St, 33316, this 1-story, 1951-built property comprises three oversized one-bedroom, one-bathroom units within two detached structures. Each unit boasts generous parking. Significant upgrades include 100% impact windows and doors, updated tile flooring, and contemporary kitchens and bathrooms. The property's prime location offers proximity to beaches, downtown Fort Lauderdale, the airport, and major shopping malls. Currently utilized as vacation rentals, it demonstrates strong performance with a 2023 gross income of approximately $95,936 against recurring business expenses of approximately $44,842 (per owner). This translates to a substantial net operating income. The property's potential extends beyond short-term rentals; a pro forma analysis suggests a potential annual income of approximately $70,000 with estimated annual expenses for taxes, insurance, and lawn maintenance totaling approximately $20,000 if used for 12-month leases. The property is easily shown. This is an exceptional opportunity for investors seeking a high-return, well-maintained multifamily property in a desirable location.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fort Lauderdale
- County
- Broward
- State
- Florida
- Longitude
- -80.138
- Latitude
- 26.094
