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1111 NE 5th Ter 4 Unit Apartment Building $1,000,000 ($250,000/Unit) 6.41% Cap Rate Fort Lauderdale, FL 33304
Investment Highlights
- Four-unit Fort Lauderdale asset offered at $1,000,000 or $250,000 per unit
- Minutes from Flagler Village, Downtown Fort Lauderdale, Brightline, beaches, Port Everglades, and FLL Airport
- 13,503-square-foot lot with RMM-25 zoning and long-term upside potentia
Executive Summary
1111 Northeast 5th Terrace was constructed in 1946 and comprises (one) single-story concrete block building with a painted stucco exterior and shingle roof. The property offers 3,743 square feet of gross building area and sits on a 13,503-square-foot lot (0.31 acres), according to the Broward County Property Appraiser. The unit mix includes (two) one-bedroom/one-bathroom units, (one) two-bedroom/one-bathroom unit, and (one) three-bedroom/two-bathroom unit. The property features on-site laundry facilities, wall air-conditioning units and paved asphalt parking, The property is zoned RMM-25.
1111 Northeast 5th Terrace is located in Fort Lauderdale, Florida, offering residents convenient access to Sunrise Boulevard, NE 4th Avenue, and Federal Highway (US-1). The surrounding 3-mile area reports an average household income of $106,825 and population growth of 8.41% since 2010. Residents are within walking distance to Home Depot, Flagler Village, and Holiday Park, with a short drive to Downtown Fort Lauderdale, Fort Lauderdale-Hollywood International Airport, Port Everglades, and the Broward County Convention Center.
Surrounding area retailers and points of interest include Home Depot (0.1 miles), Amped Fitness (0.4 miles), Holiday Park/Baptist IcePlex/The Parker (0.4 miles), Pet Supermarket (0.4 miles), Walgreens Pharmacy (0.6 miles), Aldi (0.6 miles), Winn Dixie (0.7 miles), Publix Super Market at Sunrise Boulevard (0.8 miles), The Fresh Market (1.0 miles) and Truist Bank (1.3 miles). Additionally, just a short drive from the property is Brightline Fort Lauderdale Station (1.4 miles), The Galleria (2.1 miles), Hugh Taylor Birch State Park (2.4 miles), Beaches (2.6 miles), Broward County Convention Center (4.1 miles), Port Everglades (5.4 miles), and Fort Lauderdale-Hollywood International Airport (5.5 miles).
1111 Northeast 5th Terrace is located in Fort Lauderdale, Florida, offering residents convenient access to Sunrise Boulevard, NE 4th Avenue, and Federal Highway (US-1). The surrounding 3-mile area reports an average household income of $106,825 and population growth of 8.41% since 2010. Residents are within walking distance to Home Depot, Flagler Village, and Holiday Park, with a short drive to Downtown Fort Lauderdale, Fort Lauderdale-Hollywood International Airport, Port Everglades, and the Broward County Convention Center.
Surrounding area retailers and points of interest include Home Depot (0.1 miles), Amped Fitness (0.4 miles), Holiday Park/Baptist IcePlex/The Parker (0.4 miles), Pet Supermarket (0.4 miles), Walgreens Pharmacy (0.6 miles), Aldi (0.6 miles), Winn Dixie (0.7 miles), Publix Super Market at Sunrise Boulevard (0.8 miles), The Fresh Market (1.0 miles) and Truist Bank (1.3 miles). Additionally, just a short drive from the property is Brightline Fort Lauderdale Station (1.4 miles), The Galleria (2.1 miles), Hugh Taylor Birch State Park (2.4 miles), Beaches (2.6 miles), Broward County Convention Center (4.1 miles), Port Everglades (5.4 miles), and Fort Lauderdale-Hollywood International Airport (5.5 miles).
Property Facts
| Price | $1,000,000 | Building Class | C |
| Price Per Unit | $250,000 | Lot Size | 0.31 AC |
| Sale Type | Investment | Building Size | 3,743 SF |
| Cap Rate | 6.41% | Average Occupancy | 100% |
| Gross Rent Multiplier | 9.5 | No. Stories | 1 |
| No. Units | 4 | Year Built | 1946 |
| Property Type | Multifamily | Parking Ratio | 2.14/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RMM-25 - Residential Multifamily Mid Rise/Medium High Density District | ||
| Price | $1,000,000 |
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| Cap Rate | 6.41% |
| Gross Rent Multiplier | 9.5 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 3,743 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1946 |
| Parking Ratio | 2.14/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RMM-25 - Residential Multifamily Mid Rise/Medium High Density District |
Amenities
Unit Amenities
- Yard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,820 | 700 |
| 2+1 | 1 | $2,065 | 900 |
| 3+2 | 1 | $3,067 | 1,400 |
Moderately walkable
70/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 49-42-34-04-0830 | Improvements Assessment | $780,420 |
| Land Assessment | $67,520 | Total Assessment | $932,730 |
Property Taxes
Parcel Number
49-42-34-04-0830
Land Assessment
$67,520
Improvements Assessment
$780,420
Total Assessment
$932,730
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