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