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1506 NE 5th Ave 4 Unit Apartment Building $800,000 ($200,000/Unit) Fort Lauderdale, FL 33304
Investment Highlights
- 4-unit multifamily property
- Zoned RM-15 allowing for redevelopment potential
- Strong demand for small multifamily units
- Located near Downtown Fort Lauderdale and Flagler Village
Executive Summary
Native Realty is pleased to present a 4-unit multifamily investment opportunity located at 1506 NE 5th Avenue in Fort Lauderdale. The property consists of approximately 2,269 square feet of improvements situated on a 6,507 square foot lot.
The asset offers a well-configured layout with strong rental appeal, catering to consistent demand for small-format multifamily units in the area. The property provides stable in-place income with the opportunity to increase rents through interior upgrades and improved management.
Zoned RM-15, the property allows for multifamily residential use with potential for future redevelopment or density optimization. Its manageable scale makes it an ideal entry-level investment or a strategic addition to an existing portfolio.
Strategically located just minutes from Downtown Fort Lauderdale, Flagler Village, and Wilton Manors, the property benefits from proximity to major employment centers, retail, dining, and transportation corridors.
This offering presents an opportunity to acquire a well-located, income-producing asset with value-add potential in a high-demand rental submarket.
The asset offers a well-configured layout with strong rental appeal, catering to consistent demand for small-format multifamily units in the area. The property provides stable in-place income with the opportunity to increase rents through interior upgrades and improved management.
Zoned RM-15, the property allows for multifamily residential use with potential for future redevelopment or density optimization. Its manageable scale makes it an ideal entry-level investment or a strategic addition to an existing portfolio.
Strategically located just minutes from Downtown Fort Lauderdale, Flagler Village, and Wilton Manors, the property benefits from proximity to major employment centers, retail, dining, and transportation corridors.
This offering presents an opportunity to acquire a well-located, income-producing asset with value-add potential in a high-demand rental submarket.
Property Facts
| Price | $800,000 | Lot Size | 0.15 AC |
| Price Per Unit | $200,000 | Building Size | 2,702 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 1.75/1,000 SF |
| Building Class | C | ||
| Zoning | RM-15 - Mid-Rise Multifamily Medium-High Density | ||
| Price | $800,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 2,702 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1968 |
| Parking Ratio | 1.75/1,000 SF |
| Zoning | RM-15 - Mid-Rise Multifamily Medium-High Density |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 502 - 504 |
Moderately walkable
70/100
Moderately drivable
60/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 49-42-34-24-0060 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $391,600 |
Property Taxes
Parcel Number
49-42-34-24-0060
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$391,600
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1506 NE 5th Ave
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