Multi-Family | 1241 NE 16th Ter
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Multi-Family 1241 NE 16th Ter
7 Unit Apartment Building $2,000,000 ($285,714/Unit) Fort Lauderdale, FL 33304
Investment Highlights
- Impact Resistant Windows (2023)
- 100% Occupancy
- New Roof (2024)
Executive Summary
This remarkable multifamily property offers a blend of impeccable location and income-generating potential in the center of Fort Lauderdale. It offers 7 conforming units with an additional non-conforming unit. The versatile layout includes 3 studio apartments, 3 1-bedroom/1-bath units, and a spacious 3-bedroom/2-bath residence, accommodating everyone from young professionals to families seeking ample living space. Positioned within close proximity of Fort Lauderdale’s renowned beaches, eclectic dining, and bustling shopping hubs, this property stands as a coveted address for investors.
This fully-leased multifamily asset stands as a premier income-generating opportunity, anchored by a solid base of long-term, quality tenants. Beyond stable rental income, the property also benefits from an additional passive revenue stream through its on-site, coin-operated laundry facility, offering investors a consistent boost to overall cash flow. Recently upgraded, this asset received a brand-new roof in 2024 and the installation of impact-resistant windows and doors in 2023. Designed to optimize profitability with minimal oversight, the recent enhancements and consistent tenant base make it an improved investment, with reliable, diversified income streams, enhancing its potential as a passive, income-generating asset in a prime rental market.
Positioned in a prime Fort Lauderdale location, it’s close to major thoroughfares like US1 and Sunrise Blvd, placing tenants within minutes of the Studio City, Downtown Fort Lauderdale, the dynamic Searstown redevelopment, and planned FAT Village redevelopment.. Just a short drive from Fort Lauderdale Beach, this property offers convenience and lifestyle appeal that attract quality tenants and maintain high occupancy. This property combines a stabilized income with high-demand features, making it a valuable addition to any investment portfolio.
The rare opportunity presents an exceptional chance to secure steady returns in a prime, high-demand location where urban convenience meets coastal charm.
This fully-leased multifamily asset stands as a premier income-generating opportunity, anchored by a solid base of long-term, quality tenants. Beyond stable rental income, the property also benefits from an additional passive revenue stream through its on-site, coin-operated laundry facility, offering investors a consistent boost to overall cash flow. Recently upgraded, this asset received a brand-new roof in 2024 and the installation of impact-resistant windows and doors in 2023. Designed to optimize profitability with minimal oversight, the recent enhancements and consistent tenant base make it an improved investment, with reliable, diversified income streams, enhancing its potential as a passive, income-generating asset in a prime rental market.
Positioned in a prime Fort Lauderdale location, it’s close to major thoroughfares like US1 and Sunrise Blvd, placing tenants within minutes of the Studio City, Downtown Fort Lauderdale, the dynamic Searstown redevelopment, and planned FAT Village redevelopment.. Just a short drive from Fort Lauderdale Beach, this property offers convenience and lifestyle appeal that attract quality tenants and maintain high occupancy. This property combines a stabilized income with high-demand features, making it a valuable addition to any investment portfolio.
The rare opportunity presents an exceptional chance to secure steady returns in a prime, high-demand location where urban convenience meets coastal charm.
Property Facts
| Price | $2,000,000 | Building Class | C |
| Price Per Unit | $285,714 | Lot Size | 0.26 AC |
| Sale Type | Investment | Building Size | 3,930 SF |
| No. Units | 7 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 1968/2024 |
| Apartment Style | Garden | Parking Ratio | 2.54/1,000 SF |
| Price | $2,000,000 |
| Price Per Unit | $285,714 |
| Sale Type | Investment |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 3,930 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1968/2024 |
| Parking Ratio | 2.54/1,000 SF |
Unit Amenities
- Air Conditioning
- Tile Floors
- Kitchen
- Oven
- Dining Room
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | 400 |
| 1+1 | 3 | - | 485 |
| 3+2 | 1 | - | 1,200 |
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Walk Score ®
Very Walkable (80)
PROPERTY TAXES
| Parcel Number | 49-42-34-02-8930 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $768,930 |
PROPERTY TAXES
Parcel Number
49-42-34-02-8930
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$768,930
zoning
| Zoning Code | RC-15 |
| RC-15 |
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Power Broker Jaime Sturgis -
Native Realty Co.
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Multi-Family | 1241 NE 16th Ter
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