The Grand Flamingo is a 6-unit multifamily community located in the heart of the Knoll Ridge submarket in Fort Lauderdale, Florida, which is in Broward County. The subject property was built in 1968 using reinforced concrete block construction with painted stucco exterior and is situated on 0.17 acres of land.
The property is located on the south side of NE 56th St and is just a couple of blocks from major retailers. The surrounding area boasts multi-family buildings of similar age and construction. Due to the premium location there are many luxurious homes within the neighborhood. The asset is conveniently located west of US-1, north of Commercial Blvd and directly east of Dixie Hwy. Within minutes of driving, you can access the world-famous Fort Lauderdale Beach, renowned Las Olas Blvd and the shops and restaurants of the Galleria Mall. Additionally, The Grand Flamingo is blocks away from one of the most up and coming, well-known neighborhoods in Broward County known as Lauderdale By The Sea.
The investment opportunity consists of a highly attractive unit mix of (6) two-bedroom & one-bathroom totaling approximately 3,706 RSF. The property boasts amenities such as ample parking, front porches, and a sparkling pool.
The Grand Flamingo offers an investor the opportunity to purchase an unbelievably located, value-add property in the heart of one of the hottest markets in Florida. By implementing a beautification plan we project a potential increase of 14.35% in the gross rental income for the new investor. The investment opportunity offers amazing cash flow day one with the ability to add value in a location that simply cannot be beaten
