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1717 NE 12th St 6 Unit Apartment Building $1,270,000 ($211,667/Unit) 5.50% Cap Rate Fort Lauderdale, FL 33304
Investment Highlights
- 6-unit multifamily building on a large corner lot in the Lake Ridge neighborhood
- Located less than 2 miles from Fort Lauderdale Beach and close to major retail, dining, and entertainment options.
- Recently updated with new electrical panels, partial PVC plumbing, tile flooring, recessed lighting, and multiple new appliances and A/C units
Executive Summary
Unique opportunity to own a LEGAL 6-UNIT building + a Laundry room, large corner lot located in the east Fort Lauderdale neighborhood of Lake Ridge! Five studios & one 1-bedroom. Building recently updated/renovated . New electrical panels, partial PVC, tile flooring, several water heaters, appliances & A/C units replaced, recessed lighting, W/D on site. Parking for 8+ cars. All long-term tenants now, but this is a perfect AIRBNB opportunity for the future! Current CAP rate 5.1%. Less than 2 miles to Fort Lauderdale Beach!
Data Room Click Here to Access
- Operating and Financials
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$69,850
|
$26.22
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $69,850 |
| Annual Per SF | $26.22 |
Property Facts
| Price | $1,270,000 | Building Class | C |
| Price Per Unit | $211,667 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 2,664 SF |
| Cap Rate | 5.50% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 3.75/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RMM25 - Multi family 25 units per acre | ||
| Price | $1,270,000 |
| Price Per Unit | $211,667 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 2,664 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1963 |
| Parking Ratio | 3.75/1,000 SF |
| Zoning | RMM25 - Multi family 25 units per acre |
Amenities
Unit Amenities
- Air Conditioning
- Ceiling Fans
- Tile Floors
- Kitchen
- Walk-In Closets
- Porch
Site Amenities
- 24 Hour Access
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | - | 408 |
| 1+1 | 1 | - | 624 |
1 1
Very walkable
80/100
Fairly drivable
50/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 49-42-34-02-8660 | Improvements Assessment | $870,410 (2026) |
| Land Assessment | $37,150 (2026) | Total Assessment | $907,560 (2026) |
Property Taxes
Parcel Number
49-42-34-02-8660
Land Assessment
$37,150 (2026)
Improvements Assessment
$870,410 (2026)
Total Assessment
$907,560 (2026)
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Miami Forever Real Estate
1717 NE 12th St
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