1896 SW 41st Ave
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1896 SW 41st Ave
4 Unit Apartment Building $1,065,000 ($266,250/Unit) 6.03% Cap Rate Fort Lauderdale, FL 33317
Investment Highlights
- Close Proximity to US-441, Interstate 595, and Broward Boulevard
- Strong Rental Market With Limited Competition
- Property Consists Entirely of Large 2 Bedroom / 1 Bathroom Floorplans
- Opportunity to Increase Rents to Market Rates
Executive Summary
Marcus & Millichap, as exclusive listing agents, is pleased to offer for sale Floral Heights (the "Property"), a 4-unit multifamily apartment building located in the Floral Heights sub-market of Fort Lauderdale, Florida. Floral Heights is a two-story, 3,561 square foot building constructed of concrete block in 1974 that is situated on a 0.16-acre lot. The property is made up of four large two-bedroom, one-bathroom units each totaling 890 square feet.
The property is located just west of State Road 7 (US-441), between Davie Blvd and Interstate 595, all major thoroughfares that traverse Broward County. The Central Broward County location provides easy access to a wide variety of local amenities, including Downtown Fort Lauderdale, Central Broward Regional Park, and the Thunderbird Swap Shop.
Floral Heights offers investors a unique opportunity to acquire a cash-flowing property with four large two-bedroom, one-bathroom units in Fort Lauderdale, Florida. The property benefits from being situated in a well-rounded market with limited competition and is in close proximity to major thoroughfares, including Interstate 595 and Davie Blvd.
The property is located just west of State Road 7 (US-441), between Davie Blvd and Interstate 595, all major thoroughfares that traverse Broward County. The Central Broward County location provides easy access to a wide variety of local amenities, including Downtown Fort Lauderdale, Central Broward Regional Park, and the Thunderbird Swap Shop.
Floral Heights offers investors a unique opportunity to acquire a cash-flowing property with four large two-bedroom, one-bathroom units in Fort Lauderdale, Florida. The property benefits from being situated in a well-rounded market with limited competition and is in close proximity to major thoroughfares, including Interstate 595 and Davie Blvd.
Property Facts
| Price | $1,065,000 | Building Class | C |
| Price Per Unit | $266,250 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 3,561 SF |
| Cap Rate | 6.03% | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.16 | No. Stories | 2 |
| No. Units | 4 | Year Built | 1974 |
| Property Type | Multifamily | Parking Ratio | 3.37/1,000 SF |
| Property Subtype | Apartment |
| Price | $1,065,000 |
| Price Per Unit | $266,250 |
| Sale Type | Investment |
| Cap Rate | 6.03% |
| Gross Rent Multiplier | 11.16 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 3,561 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 3.37/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 890 |
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PROPERTY TAXES
| Parcel Number | 50-41-13-03-0240 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $352,230 |
PROPERTY TAXES
Parcel Number
50-41-13-03-0240
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$352,230
zoning
| Zoning Code | RM-10 |
| RM-10 |
Contacts
-
Daniel Cunningham -
Dillon Majeski -
Evan Richardson -
River Rhoads -
Jason Nowik -
Marcus & Millichap
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1896 SW 41st Ave
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