Prime 8 Unit in Las Olas | 1521 SE 2nd Ct
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Prime 8 Unit in Las Olas 1521 SE 2nd Ct
8 Unit Apartment Building $1,900,000 ($237,500/Unit) 7.14% Cap Rate Fort Lauderdale, FL 33301
Investment Highlights
- Unit Mix: Seven (7) Units are 1 Bed/1 Bath and One (1) Unit is a 2 Bed/1 Bath
- Mostly Updated Kitchens, Flooring and Bathrooms. New Exterior Paint/Resurface. 40 Yr Re-Certification Passed in 2022
- Prime Location! Steps Away from Las Olas shopping, dining, and very close to the Beach
- Owner Financing Available at Attractive Terms
Executive Summary
Presenting 1521 SE 2nd Ct, a turnkey 8-unit multifamily gem in the heart of Las Olas, steps from top shopping, dining, and close to the beach. This mostly renovated property includes seven 1-bed/1-bath units and one spacious 2-bed/1-bath unit, many featuring new flooring, kitchen cabinets, and bathrooms. The freshly painted exterior adds durability and curb appeal. With the 40-Year Re-certification completed in 2022 and occupancy increasing, the property is set to generate over $190,000 annually, offering a 7.14% cap rate—potentially higher if used as a vacation rental. Seller financing available with attractive terms!
Property Facts
| Price | $1,900,000 | Apartment Style | Low Rise |
| Price Per Unit | $237,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 7.14% | Building Size | 5,006 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 1.5/1,000 SF |
| Price | $1,900,000 |
| Price Per Unit | $237,500 |
| Sale Type | Investment |
| Cap Rate | 7.14% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 5,006 SF |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 1.5/1,000 SF |
Unit Amenities
- Air Conditioning
- Ceiling Fans
- Tile Floors
- Granite Countertops
- Tub/Shower
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | $1,900 | 650 |
| 2+1 | 1 | $2,300 | 950 |
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Walk Score ®
Walker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 50-42-11-01-2540 | Improvements Assessment | $1,120,650 |
| Land Assessment | $137,500 | Total Assessment | $1,287,440 |
PROPERTY TAXES
Parcel Number
50-42-11-01-2540
Land Assessment
$137,500
Improvements Assessment
$1,120,650
Total Assessment
$1,287,440
zoning
| Zoning Code | RC-15, Ft Lauderdale |
| RC-15, Ft Lauderdale |
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Prime 8 Unit in Las Olas | 1521 SE 2nd Ct
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