Middle River Gardens Apts - 16 Unit Complex

$2,995,000

2901 Middle River Drive, Fort Lauderdale, FL 33306

For Sale

Multifamily Garden Low Rise

Active

Last Updated: 02/26/2025

Details:

Building Size: 8,483 sqft

Lot Area: 22,496 sqft

Units: 16

Year Built: 1957

Price Per Unit: $187,188

Zoning: RMM25

Floors: 2

Parking Spots: 20

Year Last Renovated: 2011

Highlights:

Located east of Federal Hwy (US1) in prestigious Coral Ridge
New impact windows & doors installed in 2018
Building Safety Inspections completed in 2021 & 2023
16 Annually rented apartments with long term stability
Interior renovations with premium materials - tile flooring, cabinetry, AC, fixtures & more

Description:

Located east of Federal Hwy in prestigious Coral Ridge, this is an ideal investment size. Two buildings side by side (2901 & 2809 Middle River Drive) making an expansive garden style complex. High walkability score and superior convenience with just two blocks to Coral Ridge Mall (Publix, TJ Maxx, Target, AMC Theatre) and local bus lines. Tenants enjoy the nearby beach as well as easy access to I-95. Quality remodeling completed with premium tile flooring, new cabinetry, impact windows & doors, and more. New tile roofs in 2011. Comparables show rents are below market. At $187,188/unit, this is the best value in the area! Please do not disturb the tenants.

For information email to Ross@HermanAndHerman.com, or call 954-563-6800.