Land in Fort Lauderdale, FL 33311Washington Park, 2399 Sistrunk Blvd BOULEVARD
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Closed
0.23
AcreStatus
Sold - Jan 15, 2025
Size
0.23 Acres (921 m2)
Price
$2,608,696/Acre ($652/m2)
Type
Land
MLS Number
F10468607
On Site
683 Days
Updated
94 Days ago
Page Views
0
Rare opportunity on rapidly developing Sistrunk Blvd. Drive Sistrunk: see surge of construction. 1/4 acre corner lot. 15 units can be built by right: Land has been entitled. Site plan for 15 large 1 bed/1 bath units. 7-9 of the units can possibly be 1 bed w/dens or 2 bed. Permits have not been pulled. Use site plan, customize or design your own. Recently sold comps in area:$66.7k-$84.5k per unit for land. Active comps in area:$60k-$99k per unit for land. Subject property under $50k per unit; OVER $250k OFF market value. New 1 bed apts nearby rent:$1.6k-$2.3k. New 2 bed apts nearby rent:$2.4k-$3k. Construction cost $2.2M+/-. All in cost:$3M+/-. Value once built:$4M+/-. $1M+/- instant equity. Potential 10%+/- cap rate. Opportunity zone. Huge tax benefits. Seller will finance or joint venture
Features
All features
- Current Use: MultiFamily, Residential, SingleFamily, Unimproved
- Approx SqFt Total Area: 9909
- Property SqFt: 9909
- Remarks: Rare opportunity on rapidly developing Sistrunk Blvd. Drive Sistrunk: see surge of construction. 1/4 acre corner lot. 15 units can be built by right: Land has been entitled. Site plan for 15 large 1 bed/1 bath units. 7-9 of the units can possibly be 1 bed w/dens or 2 bed. Permits have not been pulled. Use site plan, customize or design your own. Recently sold comps in area:$66.7k-$84.5k per unit for land. Active comps in area:$60k-$99k per unit for land. Subject property under $50k per unit; OVER $250k OFF market value. New 1 bed apts nearby rent:$1.6k-$2.3k. New 2 bed apts nearby rent:$2.4k-$3k. Construction cost $2.2M+/-. All in cost:$3M+/-. Value once built:$4M+/-. $1M+/- instant equity. Potential 10%+/- cap rate. Opportunity zone. Huge tax benefits. Seller will finance or joint venture
- Internet Remarks: Rare opportunity on rapidly developing Sistrunk Blvd. Drive Sistrunk: see surge of construction. 1/4 acre corner lot. 15 units can be built by right: Land has been entitled. Site plan for 15 large 1 bed/1 bath units. 7-9 of the units can possibly be 1 bed w/dens or 2 bed. Permits have not been pulled. Use site plan, customize or design your own. Recently sold comps in area:$66.7k-$84.5k per unit for land. Active comps in area:$60k-$99k per unit for land. Subject property under $50k per unit; OVER $250k OFF market value. New 1 bed apts nearby rent:$1.6k-$2.3k. New 2 bed apts nearby rent:$2.4k-$3k. Construction cost $2.2M+/-. All in cost:$3M+/-. Value once built:$4M+/-. $1M+/- instant equity. Potential 10%+/- cap rate. Opportunity zone. Huge tax benefits. Seller will finance or joint venture
- Waterfront: No info
- Directions: South
- Days on Market: 40
- Closing Date: 2025-01-15
- Office Name: United Realty Group Inc.
- Taxes: 2062
- Tax Year: 2023
- Listing Date: 2024-10-28T11:20:16.000-00:00
- Lot Size Square Feet: 9909
Apples-to-Apples Comparables
Price History
Current
$600K
High
$750K
Low
$600K
Total Change
-20%Date
Event
Price
Change
Price Per
06/09/2026
Sold
$600K
0%$61 ft2
$652 m2
01/15/2025
Price Reduced
$600K
-20%$61 ft2
$652 m2
10/28/2024
Listed
$750K
 $76 ft2
$815 m2
06/09/2026
$600K
Event
Sold
Change
0%Price Per
$61 ft2
$652 m2
01/15/2025
$600K
Event
Price Reduced
Change
-20%Price Per
$61 ft2
$652 m2
10/28/2024
$750K
Event
Listed
Price Per
$76 ft2
$815 m2
Price per square foot and days on website are not provided values and are calculated by Subdivisions.
Listed by Michael Sheer • United Realty Group Inc. • Buyer Agency Compensation .
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Scores
62
100
53
100
77
100
0
100
29
100
1
100
Community Snapshot
2 – 5 BR
Bedrooms
$150K – $1M
Price Tier
360 - 9,423
SqFt Range
1979
Year Build
1
Total Floors
Subdivision Amenities
None
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