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1037 NE 9th Ave

Fort Lauderdale, FL 33304
  • $1,349,000
  • STATUS: Active Under Contract
  • ON SITE: 89 Days
  • MLS #: A11298761
Under Contract
$1,349,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,848
    SQFT
  • $474
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1959
County:
Area:

School Ratings & Info

Description

Great opportunity to get 10+% CAP ~20% Cash on Cash year one on a 100% remodeled property. A newly remodeled five plex, with 5 1/1 Units with 2,848 SF of rentable space, in a 6,752 SF lot located by Holiday Park, one of the city's most popular public parks, with over 90 acres of land, a couple of blocks from the Bell Sunrise Gallery, the Quantum apartments, and the Beyond Searstown Development, near Galleria Mall, Downtown Fort Lauderdale, and the beaches, ideal and zoned for Airbnb, and right next to the War Memorial Auditorium. With an expected short-term rental yearly income of $230K+ (see AirDNA supported data here) and an NOI of $148K+, it would provide a ~10%+ CoC rate, a levered ~20% CAP rate, and an expected 33% IRR over seven years. No A/c in the property

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Copyright 2023, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. The data relating to real estate for sale on this web site comes in part from the participating Associations/MLS’s in the Southeast Florida Regional Multiple Listing Service cooperative agreement, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2023, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. Use of search facilities of data on the site, other than a consumer looking to purchase real estate, is prohibited. Data last updated 2023-02-01T23:50:34.67.
www.daltonwade.com/homes/134560021
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1037 NE 9th Ave Fort Lauderdale, FL 33304

  • Price: $1,349,000
  • Status: Active Under Contract
  • On Site: 89 Days
  • MLS #: A11298761
0
Beds
0
Baths
0
½ Baths
N/A
Acres
2,848
SQFT
$474
$/SQFT
1959
Built
Neighborhood:
Progresso
County:
Broward
Area:
Progresso
Property Description
Great opportunity to get 10+% CAP ~20% Cash on Cash year one on a 100% remodeled property. A newly remodeled five plex, with 5 1/1 Units with 2,848 SF of rentable space, in a 6,752 SF lot located by Holiday Park, one of the city's most popular public parks, with over 90 acres of land, a couple of blocks from the Bell Sunrise Gallery, the Quantum apartments, and the Beyond Searstown Development, near Galleria Mall, Downtown Fort Lauderdale, and the beaches, ideal and zoned for Airbnb, and right next to the War Memorial Auditorium. With an expected short-term rental yearly income of $230K+ (see AirDNA supported data here) and an NOI of $148K+, it would provide a ~10%+ CoC rate, a levered ~20% CAP rate, and an expected 33% IRR over seven years. No A/c in the property
Exterior Features

Architectural Style Other Construction Materials Other Lot Features Less Than 1/4 Acre Lot Parking Total 5 Pool Private YN No Roof Other View YN No Waterfront YN No

Interior Features

Adjusted Square Footage 2848 Building Area Total 2848 Cooling None Flooring Tile Heating None Heating YN No Stories 1

Property Features

Association YN No Building Name Progresso Cooling YN No Documents Available None Horse YN No Listing Terms All CashConventionalFhaFha 203K New Construction YN No Property Sub Type Quadruplex Public Survey Section 34 Rent Includes SewerTrash Collection Sewer Public Sewer Spa YN No Structure Type QuadruplexFourplex Tax Annual Amount 10384 Tax Year 2021 Year Built Details Resale Zoning Multi

Listing courtesy of Optimar International Realty: 305-947-0477.


Copyright 2023, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. The data relating to real estate for sale on this web site comes in part from the participating Associations/MLS’s in the Southeast Florida Regional Multiple Listing Service cooperative agreement, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2023, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. Use of search facilities of data on the site, other than a consumer looking to purchase real estate, is prohibited. Data last updated 2023-02-01T23:50:34.67.
 
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