Sold

1037 NE 9th Ave

Fort Lauderdale FL, 33304

$1,250,000


$438.90 per sqft

Sold

2,848 sqft

Multi-family

Built in 1959

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

A11298761

MLS ID

November 1, 2022

Listed

February 15, 2024

Updated

Map

1037 NE 9th Ave
Fort Lauderdale FL, 33304

Interior Features

Total Stories

1


Floor Description

Tile


Fireplace

No


Cooling

No


Cooling Description

None


Heating

No


Heating Description

None

Exterior/Building Features

Lot Features

Less Than 1/4 Acre Lot


Architectual Style

Other


Roof

Other


Sewer

Public Sewer

Other Property Details

Area Name

Progresso


Taxes

$10,384


Tax Frequency

Annually


Days on Market

52


Garage

No


Parking Total

5


View

No


County

Broward County


Pool

No


Zoning

Multi


Buyer Agency Compensation

2.5%

Listing History

Date

Event

Price

11/10/2023

Sold

$1,250,000

Courtesy of Optimar International Realty with Rosa Poler,
Listing Contact: 954-235-4046 

Based on information from the Miami Association of REALTORS®. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS.  All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. 

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Data last updated 8:43 PM UTC, 2/15/2024.

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