1509 3Rd Ave Fort Lauderdale, FL 33311

Property Details for 1509 3Rd Ave

Year built

1938

Property type

Small apartment buildings

Description

This exceptional three-unit apartment building in Fort Lauderdale, Florida presents a compelling investment opportunity. Built in 1938, this single-story property sits on a double lot at 1509 NW 3rd Ave, 33311, and boasts approximately six off-street parking spaces. The property comprises three legal units: a three-bedroom, one-bathroom main house currently operating as a successful Airbnb, projected to generate approximately $5,500 monthly; a renovated one-bedroom, one-bathroom unit with an additional room, currently rented at $1,600 per month; and a recently renovated studio unit, currently rented at $2,000 per month (with short-term rental potential of approximately $2,500 monthly). The main house and studio are fully furnished. All units feature central air conditioning. The property also includes a shared washer and dryer. The second unit features a renovated kitchen and a new central AC system. The fenced backyard provides additional space. This property offers significant revenue potential, estimated at approximately $9,500 per month, and substantial future development possibilities. The property's location in a thriving neighborhood further enhances its investment appeal. This is a rare opportunity to acquire a high-performing multifamily property with strong cash flow and significant upside.