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1202 NE 3rd Ave 5 Unit Apartment Building $1,220,000 ($244,000/Unit) 7% Cap Rate Fort Lauderdale, FL 33304
INVESTMENT HIGHLIGHTS
- New metal roof; water filtration; RING cameras 24/7.
- Full impact windows & doors, New solar panel system (offsets operating costs), New asphalt & professional landscaping
EXECUTIVE SUMMARY
Fully Renovated Income Property/ Each unit have washer/dryer /6parking spaces on site.
CASH-ONLY / SOLD AS-IS.
A rare A+ location just ~5 minutes to Downtown Fort Lauderdale and Wilton Manors, ~10 minutes to the beach. This turnkey asset has been hardened and modernized for low maintenance and operational efficiency—ideal for a yield-focused buyer.
Major improvements completed:
New metal roof;
Full impact windows & doors;
New solar panel system (offsets operating costs);
New asphalt & professional landscaping;
Property-wide water filtration system;
RING cameras with 24/7 security monitoring;
Two separate buildings connected by a breezeway with a hurricane-rated roof;
Beautiful gated common patio between the two buildings;
New appliances included.
Current configuration & income:
Five rentable spaces — (2 studios, two 1b/1b, one 2b/1b)
producing $8,800/month gross ($105,600/year).
Records indicate Duplex; operating as five rentable spaces (non-conforming).
The property is priced to reflect its non-conforming configuration; buyer assumes responsibility for all due diligence regarding zoning, legal use, and unit count.
Disclosures: Seller/listing agent make no warranties regarding legal use or conformity. Buyer to verify all zoning, licensing, fire/life-safety, parking, insurance, and tax implications to buyer’s satisfaction.
Do not disturb tenants. POF required before any access. Showings coordinated with listing agent only.
CASH-ONLY / SOLD AS-IS.
A rare A+ location just ~5 minutes to Downtown Fort Lauderdale and Wilton Manors, ~10 minutes to the beach. This turnkey asset has been hardened and modernized for low maintenance and operational efficiency—ideal for a yield-focused buyer.
Major improvements completed:
New metal roof;
Full impact windows & doors;
New solar panel system (offsets operating costs);
New asphalt & professional landscaping;
Property-wide water filtration system;
RING cameras with 24/7 security monitoring;
Two separate buildings connected by a breezeway with a hurricane-rated roof;
Beautiful gated common patio between the two buildings;
New appliances included.
Current configuration & income:
Five rentable spaces — (2 studios, two 1b/1b, one 2b/1b)
producing $8,800/month gross ($105,600/year).
Records indicate Duplex; operating as five rentable spaces (non-conforming).
The property is priced to reflect its non-conforming configuration; buyer assumes responsibility for all due diligence regarding zoning, legal use, and unit count.
Disclosures: Seller/listing agent make no warranties regarding legal use or conformity. Buyer to verify all zoning, licensing, fire/life-safety, parking, insurance, and tax implications to buyer’s satisfaction.
Do not disturb tenants. POF required before any access. Showings coordinated with listing agent only.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$103,000
|
$35.19
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$103,000
|
$35.19
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$20,000
|
$6.83
|
| Net Operating Income |
$83,000
|
$28.36
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $103,000 |
| Annual Per SF | $35.19 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $103,000 |
| Annual Per SF | $35.19 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $20,000 |
| Annual Per SF | $6.83 |
| Net Operating Income | |
|---|---|
| Annual | $83,000 |
| Annual Per SF | $28.36 |
PROPERTY FACTS
AMENITIES
SITE AMENITIES
- Security System
1 1
Walk Score®
Very Walkable (84)
Bike Score®
Very Bikeable (74)
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1202 NE 3rd Ave
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