Multifamily in Fort Lauderdale, FL 33304Lake Ridge, 1037 NE 9th Ave #1-5
Share
Closed
2,848
SqFtStatus
Sold - Mar 03, 2023
Size
2,848 SqFt (265 m2)
Price
$439/SqFt ($4,724/m2)
Type
Multifamily
Built
1959
MLS Number
A11298761
On Site
1406 Days
Updated
14 Days ago
Page Views
0
Great opportunity to get 10+% CAP ~20% Cash on Cash year one on a 100% remodeled property. A newly remodeled five plex, with 5 1/1 Units with 2,848 SF of rentable space, in a 6,752 SF lot located by Holiday Park, one of the city's most popular public parks, with over 90 acres of land, a couple of blocks from the Bell Sunrise Gallery, the Quantum apartments, and the Beyond Searstown Development, near Galleria Mall, Downtown Fort Lauderdale, and the beaches, ideal and zoned for Airbnb, and right next to the War Memorial Auditorium.
With an expected short-term rental yearly income of $230K+ (see AirDNA supported data here) and an NOI of $148K+, it would provide a ~10%+ CoC rate, a levered ~20% CAP rate, and an expected 33% IRR over seven years. No A/c in the property
Features
Bedrooms
Bathrooms
Exterior and Lot Features
Interior, Heating and Cooling
- Heating Description: None
- Cooling Description: None
Building and Construction
- Floor Description: Tile
- Year Built: 1959
- Year Built Description: Resale
- Style: Fourplex
Waterfront and Water Access
- Waterfront Frontage: No info
School Information
Other Property Info
- Listing Date: 2022-11-04T18:33:25.000-00:00
Taxes, Fees & More
- Taxes: 10384
Apples-to-Apples Comparables
Price History
Current
$1.3M
High
$1.3M
Low
$1.3M
Total Change
-7.3%Date
Event
Price
Change
Price Per
03/02/2023
Sold
$1.3M
-7.34%$439 ft2
$4,724 m2
11/04/2022
Listed
$1.3M
 $474 ft2
$5,099 m2
03/02/2023
$1.3M
Event
Sold
Change
-7.34%Price Per
$439 ft2
$4,724 m2
11/04/2022
$1.3M
Event
Listed
Price Per
$474 ft2
$5,099 m2
Price per square foot and days on website are not provided values and are calculated by Subdivisions.
Listed by Rosa Poler • Optimar International Realty • Buyer Agency Compensation .
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Scores
81
100
38
100
57
100
77
100
0
100
29
100
1
100
Community Snapshot
1 – 4 BR
Bedrooms
$145K – $1.6M
Price Tier
540 - 10,650
SqFt Range
2004
Year Build
2
Total Floors
Subdivision Amenities
None
Pool
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