Washington Park, 2399 Sistrunk Blvd Fort Lauderdale, FL, 33311

$749,985Price
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Size: 9,909 ft2 / 921 m2
Price: $76 ft2 / $815 m2
MLS Number: F10468607
On Site: 54 Days
Updated: 52 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
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: 2
Office Name: United Realty Group Inc.
Area: 9909
Taxes: 2062
Tax Year: 2023
Listing Date: 2024-10-28T10:20:16.000-00:00
Lot Size Square Feet: 9909
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Price History
10/28/2024

Date

Listed

Event

$750K

Price

$76 ft2 / $815 m2

Price Per

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 .

Instant Comparative Market Analysis
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Unit 2399 Sistrunk Blvd – Asking

$NaN/ft²

(0%) from Closed Medium $/ft²

Closed Medium $/ft²

$290/ft²
Community $/Price Range (Closed) $166/ft² – $472/ft²
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