429 NW 14th Avenue, Fort Lauderdale, FL 33311
- $415,000
- 1,170
- SqFt
- List Price
- $415,000
- Status
- ACTIVE
- Days on Market
- 24
- MLS#
- A12073351
- Subtype
- Residential Income
- Year Built
- 1962
- Living Area
- 1,170
- Subdivision
- First Add To Tuskegee Par
- MLS Area Major
- 3460
Property Description
429 NW 14th Avenue is a 2-unit duplex in Fort Lauderdale's 33311 submarket, offered at $415,000 ($207,500/unit). Both units are updated 2BR/1BA and currently occupied, generating combined rent of $3,300/month ($39,600 annually). Current operating expenses total $12,240/year, producing a current NOI of $27,360 and a 6.59% cap rate.The property offers strong upside potential, as current rents of $1,600 and $1,700 sit below market levels of approximately $1,800/unit. Bringing both units to market rent would increase annual gross income to $43,200, raising NOI to $30,960 and the cap rate to 7.46%, with expenses held flat. This combination of stable in-place cash flow and clear rental upside makes 429 NW 14th Avenue an attractive value-add opportunity for investors seeking a manageable two-unit asset in a strong Fort Lauderdale submarket.
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Additional Information
- Taxes
- $7,240
- Flooring
- Other
- Heating
- Other, Separate Meters
- Air Conditioning
- Other
- Exterior Construction
- Other
- Stories
- 1
- Roof
- Other
- Elementary School
- North Fork
- Middle School
- Sunrise
- High School
- Fort Lauderdale
Listing courtesy of Trustpoint Realty, LLC.. Contact:
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Agent: Joseph Ricardo Suarez | Email: info@trustpointrealty.com