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921-925 NE 17th Ave 10 Unit Apartment Building $2,300,000 ($230,000/Unit) 4.89% Cap Rate Fort Lauderdale, FL 33304
Investment Highlights
- 921–925 Northeast 17th Avenue was constructed in 1959 and comprises (2) single-story concrete block buildings with painted stucco exteriors and shingl
- Unit Mix of (8) 1 Bedrooms, (1) 2 Bedroom 1 Bathroom and (1) 2 Bedroom 2 Bathroom
- Both Roofs were Replaced in 2015, Properties are Exempt from 40-Year Recertification
- Surrounded by New Construction Townhomes with Recent Sale Prices up to $1,495,000
- Electric Appliances, Wall Air Conditioning, Central Courtyard, Property-Owned Laundry
Executive Summary
921–925 Northeast 17th Avenue was constructed in 1959 and comprises (2) single-story concrete block buildings with painted stucco exteriors and shingle roofs. The property offers 5,276 square feet of total building area and sits on a 13,500-square-foot lot (0.31 acres), according to the Broward County Property Appraiser. The unit mix includes (8) one-bedroom/one-bathroom units, (1) two-bedroom/one-bathroom unit, and (1) two-bedroom/two-bathroom unit. The property features on-site laundry facilities, wall air conditioning units, paved asphalt parking, and tropical courtyard.
Property Facts
| Price | $2,300,000 | Apartment Style | Low-Rise |
| Price Per Unit | $230,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.31 AC |
| Cap Rate | 4.89% | Building Size | 5,276 SF |
| Gross Rent Multiplier | 11.26 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | Parking Ratio | 1.2/1,000 SF |
| Zoning | RMM-25 - Residential Multi-Family | ||
| Price | $2,300,000 |
| Price Per Unit | $230,000 |
| Sale Type | Investment |
| Cap Rate | 4.89% |
| Gross Rent Multiplier | 11.26 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 5,276 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1959 |
| Parking Ratio | 1.2/1,000 SF |
| Zoning | RMM-25 - Residential Multi-Family |
Amenities
Unit Amenities
- Air Conditioning
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 500 |
| 2+1 | 1 | - | 600 |
| 2+2 | 1 | - | 650 |
1 1
Moderately walkable
70/100
Fairly drivable
50/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 49-42-34-05-8320 | Improvements Assessment | $1,463,000 |
| Land Assessment | $202,500 | Total Assessment | $1,665,500 |
Property Taxes
Parcel Number
49-42-34-05-8320
Land Assessment
$202,500
Improvements Assessment
$1,463,000
Total Assessment
$1,665,500
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