50 SE 12th St | Fort Lauderdale, FL 33316
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50 SE 12th St
Fort Lauderdale, FL 33316
Rustic Manor Apartments · Multifamily Property For Sale · 24 Units
Investment Highlights
- Rare Opportunity Featuring (23) 1 Bed 1 Bath and (1) 2 Bed 1 Bath Units - All Fully Furnished Units
- Current Manager Runs as Short-Term Rentals, Open to Staying on with New Ownership
- Major development projects under construction and proposed in the surrounding area
- Irreplaceable Turn-Key Opportunity with Ability to Run as Either a Short-Term or Tradition Rental
- Perfectly Situated a few Blocks West of US-1, Walking Distance to Downtown Ft. Lauderdale
- Easy access to US-1, Davie Blvd, Las Olas Blvd, Broward Blvd and US Federal Hwy 1 and major thoroughfares such as I-95 and Florida's Turnpike
Executive Summary
The Rustic Manor Apartments is a 24-unit multifamily community located in the heart of the Poinciana Park submarket in Fort Lauderdale, Florida, which is in Broward County. The subject property was built in 1973 using reinforced concrete block construction with painted stucco exterior and is situated on 0.49 acres of land.
The property is located on the west side of SE 12th St and is just a block from major retailers. The surrounding area boasts multi-family buildings of similar age and construction. Due to the premium location, there are many luxurious homes within the neighborhood. The asset is conveniently located West of S Federal Hwy, North of Marina Mile Blvd, South of Davie Blvd, and directly east of I-95. Within minutes of driving, you can access the world-famous Fort Lauderdale Beach, renowned Las Olas Blvd and the shops and restaurants of the Galleria Mall.
The investment opportunity consists of a highly attractive unit mix of (23) one-bedroom & one-bathroom, and (1) two-bedroom & one-bathroom totaling approximately 10,141 RSF. The property boasts amenities such as ample parking, sparkling pool, on-site laundry, electric door access and fully furnished units.
The Rustic Manor offers an investor the opportunity to purchase an unbelievably located property with no deferred maintenance in the heart of one of the hottest markets in Florida. By implementing either a short term or long term rental plan, the new owner will eb able to capitalize on the strong rents and desirability of downtown Ft. Lauderdale.
The property is located on the west side of SE 12th St and is just a block from major retailers. The surrounding area boasts multi-family buildings of similar age and construction. Due to the premium location, there are many luxurious homes within the neighborhood. The asset is conveniently located West of S Federal Hwy, North of Marina Mile Blvd, South of Davie Blvd, and directly east of I-95. Within minutes of driving, you can access the world-famous Fort Lauderdale Beach, renowned Las Olas Blvd and the shops and restaurants of the Galleria Mall.
The investment opportunity consists of a highly attractive unit mix of (23) one-bedroom & one-bathroom, and (1) two-bedroom & one-bathroom totaling approximately 10,141 RSF. The property boasts amenities such as ample parking, sparkling pool, on-site laundry, electric door access and fully furnished units.
The Rustic Manor offers an investor the opportunity to purchase an unbelievably located property with no deferred maintenance in the heart of one of the hottest markets in Florida. By implementing either a short term or long term rental plan, the new owner will eb able to capitalize on the strong rents and desirability of downtown Ft. Lauderdale.
PROPERTY FACTS
| Price Per Unit | $229,167 | Lot Size | 0.49 AC |
| Sale Type | Investment | Building Size | 10,173 SF |
| No. Units | 24 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1973 |
| Apartment Style | Low Rise | Parking Ratio | 3.15/1,000 SF |
| Building Class | C |
| Price Per Unit | $229,167 |
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 10,173 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 3.15/1,000 SF |
Unit Amenities
- Air Conditioning
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Family Room
- Linen Closet
- Patio
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Pool
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 23 | - | 415 |
| 2+1 | 1 | - | 628 |
PROPERTY TAXES
| Parcel Number | 50-42-15-10-0210 | Improvements Assessment | $2,599,240 |
| Land Assessment | $211,300 | Total Assessment | $3,400,740 |
PROPERTY TAXES
Parcel Number
50-42-15-10-0210
Land Assessment
$211,300
Improvements Assessment
$2,599,240
Total Assessment
$3,400,740
zoning
| Zoning Code | SRAC-SAE |
| SRAC-SAE |
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