First Add To Tuskegee Par
$825,000
535 NW 13th Ave, Fort Lauderdale, FL 33311
2,334 sqft
Building Size
4
Units
Details:
Highlights:
- Lot Features: Less Than 1/4 Acre Lot
- Documents Available: Other Available Information
- Architectural Style: Other
- Cooling: Central Air
- Heating: Other
- Flooring: Other
- Construction Materials: Other
Description:
533 & 535 NW 13th Avenue is a 4-unit multifamily investment in Fort Lauderdale's 33311 submarket, comprised of two side-by-side duplexes on two separate folios. All four units are updated 2BR/1BA apartments with central A/C, updated kitchens and bathrooms, and the property includes six parking spaces. Three units are currently occupied with one vacancy, offering immediate upside from lease-up plus room to raise existing rents to market.
At the $825,000 asking price ($206,250/unit), current NOI is $31,600 for a 3.83% cap rate. Bringing all units to market rent of approximately $1,800/unit would grow annual income to $86,400 and NOI to $61,600, a 7.47% cap rate. Convenient access to major roadways, shopping, dining, and employment adds further appeal for investors and tenants alike.
Location
Gallery
