817 18Th Ave Fort Lauderdale, FL 33304
- Apartment buildings
- 2,270 SF
Current Use by Public Records
- Apartment buildings
Property Details for 817 18Th Ave
- Year built
- 1954
- Property size
- 2,270 SF
- Property type
- Apartment buildings
Description
This exceptional value-add opportunity presents a 5-unit apartment building located at 817 NE 18th Ave, Fort Lauderdale, FL 33304, in Broward County. The property boasts a total of 2,270 square feet situated on a 0.15-acre lot and features a desirable RMM-25 zoning classification. Built in 1954, this single-story building comprises five units, generating a current monthly rent roll of $8,995, resulting in a strong Net Operating Income (NOI) of $56,672 and a 5.16% capitalization rate. The asking price is $1,099,000, translating to $219,800 per unit. Ample parking is available with six spaces on-site. The property's location in Fort Lauderdale offers significant potential for appreciation and increased rental income. This is an ideal investment for those seeking a strong return on investment in a thriving Florida market. The property's existing structure presents a solid foundation for value-add improvements, allowing for potential rental increases and enhanced property value. The APN is 4942 34 05 9241. This is a rare opportunity to acquire a well-located multifamily property with significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fort Lauderdale
- County
- Broward
- State
- Florida
- Longitude
- -80.1222
- Latitude
- 26.1345
