1037 NE 9th Ave, Fort Lauderdale FL, 33304

Sold

Closed

1037 NE 9th Ave

Fort Lauderdale FL, 33304

$1,250,000

$438.90 per sqft

Sold

Closed

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

October 2, 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

Listing History

Date	Event	Price
11/10/2023	Sold	$1,250,000

Listed by: Optimar International Realty
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.

Data last updated 1:25 AM UTC, 10/2/2024.