200-204 17 Ct Ft Fort Lauderdale, FL 33311

Property Details for 200-204 17 Ct Ft

Year built

1966

Lot size

0.39 lot acres

Property size

6,152 SF

Property type

Apartment buildings

Description

This eight-unit apartment complex, located at 200-204 NW 17th Ct, Fort Lauderdale, FL 33311, presents a compelling investment opportunity. The property, situated on a 0.39-acre lot in Broward County, consists of four single-story duplexes built in 1966. The 6,152 square foot building features a mix of two one-bedroom and six two-bedroom, one-bathroom apartments, each with central heating and air conditioning, individual water meters, and separate hot water heaters. Amenities include ceramic tile floors, fully equipped kitchens, and a gated private courtyard with a fire pit, barbeque grill, picnic tables, and a community garden. Three new community washing machines and dryers are available. The property boasts 12 surface parking spaces. Currently operating at 97% occupancy, the property offers a Net Operating Income (NOI) of $95,078 and a 5.14% cap rate. A pro-forma NOI of $133,496 and a pro-forma cap rate of 7.22% reflect significant upside potential. The asking price is $1,850,000, or $231,250 per unit. The property is zoned RML-25 and features new impact windows and doors. Its location in a quiet residential neighborhood, near Lauderdale Tennis Club and Fort Lauderdale High School, offers convenient access to major South Florida employment centers. The property is comprised of two separate folio numbers (4942-34-25-0080 and 4942-34-25-0070) and is below the minimum square footage requiring 40/10-year recertification. This presents a rare opportunity to acquire a well-maintained, income-producing asset with substantial growth potential in a desirable South Florida location.

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Longitude

-80.1472

Latitude

26.1499