716 SW 16th Ave
Fort Lauderdale, FL 33312
Multifamily Property For Sale
·
5 Units
Property Facts
| No. Units | 5 | Lot Size | 0.23 AC |
| Property Type | Multifamily | Building Size | 3,588 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Low-Rise | No. Stories | 1 |
| Building Class | C | Year Built | 1974 |
| Zoning | RM-15 | ||
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 3,588 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1974 |
| Zoning | RM-15 |
About 716 SW 16TH AVE , FORT LAUDERDALE, FL 33312
Please do not disturb existing tenants. All showings are by appointment only! John DeMarco with RE/MAX 5 Star Realty is pleased to present the sale of 716 SW 16th Ave, Fort Lauderdale Florida 33312. The subject property consists 3, 2 bedroom 1 bathroom and 2, 1 bedroom 1 bathroom apartments. The total building size is 3,588 sf, well situated on a large 10,000 sf lot. All apartments are leased and in overall very good condition. This location is considered to be in an excellent residential leasing area. The apartments are leased between $925 - $975 per month, grossing $57,180 per year. After all expenses, this property is netting $39,118 per year providing an investor with a 7.13% actual capitalization rate at the full asking price. The current tenants are under market value, a new owner can easily raise current rents to $1100-$1200 per month which would raise the gross income to $70,080 per year netting $52,018. This increase is consistent with market rents in the area and will yield an investor a 9.48% capitalization rate on a pro-forma basis. Call for more information.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | - | - |
Property Taxes
| Parcel Number | 50-42-09-03-0127 | Improvements Assessment | $699,250 |
| Land Assessment | $42,500 | Total Assessment | $741,750 |
Property Taxes
