4041 Ocean Blvd Fort Lauderdale, FL 33308

Property Details for 4041 Ocean Blvd

Year built

1961

Construction

CONCRETE

Lot size

0.69 lot acres

Property size

19,463 SF

Zone code

RMH-25

Property type

Motels

APN

49-43-19-03-1890

APU

494319031890

Description

This exceptional investment opportunity presents a unique assemblage of two hotels totaling 133 keys, situated on a contiguous 1.66-acre parcel in Fort Lauderdale's coveted Galt Mile. The property boasts highly desirable Ocean Boulevard frontage, offering significant future development potential. Originally constructed in 1961 and 1979, the hotels underwent extensive renovations in 2017, encompassing both interior and exterior improvements. These renovations included comprehensive room upgrades, addressing panels, carpeting, headboards, air conditioning, appliances, beds, bathrooms, and amenities. The combined 46,763 square feet of building space is currently operating as turnkey hotels, generating substantial returns. The three-story buildings are zoned RMH-25, Residential Multifamily High Rise/Medium Density, allowing for a variety of future development options. This assemblage presents a rare opportunity to acquire a prime beachfront property in a high-barrier-to-entry market, benefiting from year-round demand and consistently high occupancy rates. Seller financing is available, and the property is delivered unencumbered of flags and management, although the current management team is open to remaining for a new owner. This is a truly exceptional value-add opportunity with significant upside potential through land appreciation and redevelopment.

Location Insight

City

Fort Lauderdale

County

Broward

State

Florida

Longitude

-80.0993

Latitude

26.1778

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments