2300 6Th St Fort Lauderdale, FL 33311

Property Details for 2300 6Th St

Year built

1959

Lot size

0.31 lot acres

Property size

4,497 SF

Property type

Commercial real estate

APN

50-42-05-07-1200

Description

This exceptional 12-unit apartment building presents a compelling investment opportunity in the heart of Fort Lauderdale, Florida. The property, located at 2300 NW 6th Street, boasts a desirable mix of six studios and six one-bedroom, one-bathroom units, all recently renovated in 2024. Upgrades include fully remodeled kitchens and bathrooms, updated PVC plumbing and electrical systems, hurricane impact windows, and a new roof installed in 2021. The building, constructed in 1959 and situated on a 0.31-acre lot, offers 4,497 square feet of living space. With a strong net operating income (NOI) of $126,741 and a 6.40% cap rate, this property offers a significant return on investment. The asking price is $1,980,000, translating to $165,000 per unit and $440.29 per square foot. The property's prime location provides easy access to Fort Lauderdale's beaches, shopping, dining, and transportation. Ample on-site parking caters to tenant needs, while the proximity to major employers and recreational amenities further enhances its appeal and ensures high occupancy rates. This is a turnkey investment ready to generate immediate income. The property's Class C designation reflects its solid value and potential for future appreciation. The Broward County location and 33311 zip code solidify its position in a thriving market. This meticulously maintained property offers a rare blend of immediate income generation and long-term growth potential. The detailed financial information and recent renovations make this an attractive opportunity for discerning investors.