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1115 NE 15th Ave 5 Unit Apartment Building $1,139,000 ($227,800/Unit) Fort Lauderdale, FL 33304
EXECUTIVE SUMMARY
This five-unit property, each with an individual folio, operates as a high-performing vacation rental and must be sold together. The mix includes two 1/1s, two studios, and one 2/2 (currently on an annual lease). Each unit has separate meters, its own washer/dryer, and generated $127K+ in 2014. The condo association can be terminated for flexible ownership or resale. Just one block from Publix and 1.6 miles from Fort Lauderdale Beach, this prime location ensures strong occupancy and demand. CLIENT HAS 6 OTHER PROPERTIES FOR SALE IN AREA WITH SIMILAR PROFILE.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$127,278
|
$45.04
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$127,278
|
$45.04
|
| Taxes |
$12,591
|
$4.46
|
| Operating Expenses |
$43,589
|
$15.42
|
| Total Expenses |
$56,180
|
$19.88
|
| Net Operating Income |
$71,098
|
$25.16
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $127,278 |
| Annual Per SF | $45.04 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $127,278 |
| Annual Per SF | $45.04 |
| Taxes | |
|---|---|
| Annual | $12,591 |
| Annual Per SF | $4.46 |
| Operating Expenses | |
|---|---|
| Annual | $43,589 |
| Annual Per SF | $15.42 |
| Total Expenses | |
|---|---|
| Annual | $56,180 |
| Annual Per SF | $19.88 |
| Net Operating Income | |
|---|---|
| Annual | $71,098 |
| Annual Per SF | $25.16 |
PROPERTY FACTS
| Price | $1,139,000 | Building Class | C |
| Price Per Unit | $227,800 | Lot Size | 0.22 AC |
| Sale Type | Investment | Building Size | 2,826 SF |
| No. Units | 5 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1952 |
| Apartment Style | Low-Rise | Parking Ratio | 2.83/1,000 SF |
| Zoning | RM-15 | ||
| Price | $1,139,000 |
| Price Per Unit | $227,800 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 2,826 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1952 |
| Parking Ratio | 2.83/1,000 SF |
| Zoning | RM-15 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | - | - |
| 1+1 | 2 | - | - |
| 2+2 | 1 | - | - |
1 1
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (74)
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1115 NE 15th Ave
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