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Browse More Listings in Multifamily For Sale, Fort Lauderdale, FL or Florida

Multifamily Property For Sale

Flagler Village Apartments

711 & 715 NE 2 Avenue, Fort Lauderdale, FL 33304

Price:
$1,715,000
No. Units:
20
Building Size:
13,550 SF
Price/Unit:
$85,750
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Commission Split:
2%
Cap Rate:
9.02%
Gross Rent Multiplier:
8.13
Occupancy:
100%
No. Stories:
2
Year Built:
1972
Lot Size:
22,313 SF
Tax ID / APN #:
494234071530 & 31
Parking Ratio:
1.50 / 1,000 SF
Find Out More...

Last Verified 11/5/2009 Listing ID 16457747

Highlights

100% leased
Most units fully renovated

Newer roofs

Description

Renovated 20 unit apartment complex located in the heart of Flagler Heights. The 2 building complex consists of 10 1/1 units and 10 2/1 units. The CBS buildings are 2 story walk-up style and both have had the roofs replaced within the last 6 years (April, 2003 and June, 2006). The units are 100% leased. 15 of the 20 units have been fully renovated with new tile floors, all new custom wood kitchen cabinets, architectural wood baseboards and casings, new appliances, all new bathrooms and new interior and exterior paint. All units have central A/C. Four Huebsch Commercial coin operated washers/dryers are located on site and are owned by the property (all 4 machines purchased new in November, 2008).

**** DO NOT DISTURB TENANTS!!! ****

Flagler Village Apartments are within walking distance to downtown Fort Lauderdale. Flagler Village Apartments are located just 3 blocks north of the Fort Lauderdale Central Business District between Federal Highway and Andrews Avenue in the heart of the Flagler Heights area. Due to the prime location adjacent to downtown Fort Lauderdale, this area recently underwent major re-development with new multi-story residential buildings. This property is zoned RAC-UV and allows for future high density development.

**** DO NOT DISTURB TENANTS!!! ****

Financial Summary

Unit Mix Information

Actual
Year
2009
Scheduled Gross Income
$215,868
Effective Gross Income
$205,075
Operating Expenses
$56,921
Net Operating Income
$158,947

Description	No. Units	Avg. Mo. Rent	Sq. Ft.
1/1 units	10	$793	580
2/1 units	10	$966	670

Map of 711 & 715 NE 2 Avenue, Fort Lauderdale, FL 33304 (Broward County)

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Presented by

Southern Commercial Properties, Inc.

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Contact Listing Broker

Al D'Agostino (954) 934-0954

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Created 11/4/2009

Additional Information for 711 Ne 2nd Avenue, Fort Lauderdale, FL 33304

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 0 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Multifamily Property For Sale - Flagler Village Apartments

711 & 715 NE 2 Avenue, Fort Lauderdale, FL, 33304