1185 16Th Ave Fort Lauderdale, FL 33312

This exceptional investment opportunity presents a four-unit apartment building situated in Fort Lauderdale, Florida, at 1185 SW 16th Ave, 33312. The property consists of two separate two-story buildings, each featuring two two-bedroom apartments, totaling 9,220 square feet on a similarly sized lot. Built in 1987, the property currently generates an annual net operating income (NOI) of $67,000, representing a 5.59% capitalization rate (Cap Rate). However, a pro-forma analysis indicates a significant upside potential. With strategic improvements and upgrades comparable to nearby properties, the projected NOI could reach $92,000, resulting in a 7.68% pro-forma Cap Rate. Each unit is priced at $299,500, and the asking price for the entire property is $1,198,000. The property's 9,220 square feet of land provides ample space, and each building offers approximately 1,502 square feet of living space. This multifamily property is an ideal investment for those seeking to enhance value through renovations and capitalize on the strong rental market in Fort Lauderdale. The current annual income is $87,000. Financial documentation is available upon request.