535 NW 13th Avenue, Fort Lauderdale, FL 33311
- $825,000
- 2,334
- SqFt
- List Price
- $825,000
- Status
- ACTIVE
- Days on Market
- 24
- MLS#
- A12073375
- Subtype
- Residential Income
- Year Built
- 1978
- Living Area
- 2,334
- Subdivision
- First Add To Tuskegee Par
- MLS Area Major
- 3460
Property Description
533 & 535 NW 13th Avenue is a 4-unit multifamily investment in Fort Lauderdale's 33311 submarket, comprised of two side-by-side duplexes on two separate folios. All four units are updated 2BR/1BA apartments with central A/C, updated kitchens and bathrooms, and the property includes six parking spaces. Three units are currently occupied with one vacancy, offering immediate upside from lease-up plus room to raise existing rents to market.At the $825,000 asking price ($206,250/unit), current NOI is $31,600 for a 3.83% cap rate. Bringing all units to market rent of approximately $1,800/unit would grow annual income to $86,400 and NOI to $61,600, a 7.47% cap rate. Convenient access to major roadways, shopping, dining, and employment adds further appeal for investors and tenants alike.
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Additional Information
- Taxes
- $7,241
- Flooring
- Other
- Heating
- Other, Separate Meters
- Air Conditioning
- Central Air
- Exterior Construction
- Other
- Stories
- 1
- Roof
- Other
- Elementary School
- Walker
- 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