1708 NE 20th Ave
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1708 NE 20th Ave
8 Unit Apartment Building $1,649,000 ($206,125/Unit) 5.83% Cap Rate Fort Lauderdale, FL 33305
Executive Summary
Gala Real Estate & Development is pleased to present a Prime Investment Opportunity in Fort Lauderdale – Multifamily Property with Future Development Potential
Welcome to 1708 NE 20th Ave, Fort Lauderdale, FL 33305, a rare gem offering an unbeatable combination of location, income potential, and development opportunity.
Property Overview:
Unit Mix: 7 units with 1 Bed/1 Bath, 1 unit with 2 Beds/2 Baths
Parking: 13 spaces
The electrical service was upgraded
Coin Laundry
40-year recertification + 10 Years Building safety inspections done.
Old roof, old windows. AS-IS. Cash only.
Built-in 1958, this well-maintained 8-unit multifamily property offers consistent rental income with potential for rent growth in one of Fort Lauderdale’s most sought-after neighborhoods. Zoned RM-25, the lot presents a rare opportunity for future development, including the possibility of building up to four large townhouses.
Location, Location, Location!
Situated in Poinsettia Heights, a quiet and upscale residential neighborhood known for its convenient access to all of Fort Lauderdale’s amenities.
Walking distance to top-tier restaurants, shops, and supermarkets like Whole Foods, Trader Joe's, Wild Fork, and Publix.
A short drive to The Galleria Mall, Downtown Fort Lauderdale, and the beach.
Ideal for tenants seeking suburban tranquility with city conveniences, making it perfect for long-term renters.
Whether you're looking for a solid investment with steady returns or a property with development potential, this multifamily asset offers both. Don’t miss out on this chance to own a slice of one of South Florida’s fastest-growing markets.
Contact us today for more details and to schedule a private viewing!
Welcome to 1708 NE 20th Ave, Fort Lauderdale, FL 33305, a rare gem offering an unbeatable combination of location, income potential, and development opportunity.
Property Overview:
Unit Mix: 7 units with 1 Bed/1 Bath, 1 unit with 2 Beds/2 Baths
Parking: 13 spaces
The electrical service was upgraded
Coin Laundry
40-year recertification + 10 Years Building safety inspections done.
Old roof, old windows. AS-IS. Cash only.
Built-in 1958, this well-maintained 8-unit multifamily property offers consistent rental income with potential for rent growth in one of Fort Lauderdale’s most sought-after neighborhoods. Zoned RM-25, the lot presents a rare opportunity for future development, including the possibility of building up to four large townhouses.
Location, Location, Location!
Situated in Poinsettia Heights, a quiet and upscale residential neighborhood known for its convenient access to all of Fort Lauderdale’s amenities.
Walking distance to top-tier restaurants, shops, and supermarkets like Whole Foods, Trader Joe's, Wild Fork, and Publix.
A short drive to The Galleria Mall, Downtown Fort Lauderdale, and the beach.
Ideal for tenants seeking suburban tranquility with city conveniences, making it perfect for long-term renters.
Whether you're looking for a solid investment with steady returns or a property with development potential, this multifamily asset offers both. Don’t miss out on this chance to own a slice of one of South Florida’s fastest-growing markets.
Contact us today for more details and to schedule a private viewing!
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,649,000 | Building Class | C |
| Price Per Unit | $206,125 | Lot Size | 0.28 AC |
| Sale Type | Investment | Building Size | 5,514 SF |
| Cap Rate | 5.83% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1958 |
| Property Subtype | Apartment | Parking Ratio | 1.25/1,000 SF |
| Price | $1,649,000 |
| Price Per Unit | $206,125 |
| Sale Type | Investment |
| Cap Rate | 5.83% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 5,514 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1958 |
| Parking Ratio | 1.25/1,000 SF |
Unit Amenities
- Air Conditioning
- Tile Floors
- Garden
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | - | - |
| 2+2 | 1 | - | - |
1 of 1
Walk Score ®
Very Walkable (74)
PROPERTY TAXES
| Parcel Number | 49-42-36-13-0540 | Improvements Assessment | $0 (2024) |
| Land Assessment | $0 (2024) | Total Assessment | $1,226,870 (2024) |
PROPERTY TAXES
Parcel Number
49-42-36-13-0540
Land Assessment
$0 (2024)
Improvements Assessment
$0 (2024)
Total Assessment
$1,226,870 (2024)
zoning
| Zoning Code | RM-25, Ft Lauderdale (Zoned RM-25, the lot presents a rare opportunity for future development, including the possibility of building up to four large townhouses.) |
| RM-25, Ft Lauderdale (Zoned RM-25, the lot presents a rare opportunity for future development, including the possibility of building up to four large townhouses.) |
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1708 NE 20th Ave
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