Skip To Content

1037 NE 9th Ave

Fort Lauderdale, FL 33304
  • $1,449,000
  • STATUS: Active
  • ON SITE: 12 Days
  • MLS #: A11222307
UPDATED: 45 min ago
$1,449,000
  • 0
    BEDS
  • 0.07
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,848
    SQFT
  • $509
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1959
County:
Area:

School Ratings & Info

Description

Great opportunity to get 9.4% CAP (13.8% levered) year one on a 100% upgraded property, A newly remodeled five plex (completion July 2022), with 5 1/1 Units adding 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 apartments, 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 $143K+, it would provide a ~9%+ CoC rate, a levered ~14% CAP rate, and an expected 26% IRR over seven years

Monthly Payment Calculator



Copyright 2022, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. The data relating to real estate for sale on this web site comes in part from the participating Associations/MLS’s in the Southeast Florida Regional Multiple Listing Service cooperative agreement, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2022, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. Use of search facilities of data on the site, other than a consumer looking to purchase real estate, is prohibited. Data last updated 2022-06-27T11:52:09.86.
www.castellihomes.com/homes/129841597
Print Image

1037 NE 9th Ave Fort Lauderdale, FL 33304

  • Price: $1,449,000
  • Status: Active
  • On Site: 12 Days
  • Updated: 45 min ago
  • MLS #: A11222307
0
Beds
0
Baths
0
½ Baths
0.07
Acres
2,848
SQFT
$509
$/SQFT
1959
Built
Neighborhood:
Progresso
County:
Broward
Area:
Progresso
Property Description
Great opportunity to get 9.4% CAP (13.8% levered) year one on a 100% upgraded property, A newly remodeled five plex (completion July 2022), with 5 1/1 Units adding 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 apartments, 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 $143K+, it would provide a ~9%+ CoC rate, a levered ~14% CAP rate, and an expected 26% IRR over seven years
Exterior Features

Construction Materials Concrete Block With Brick Lot Features Less Than 1/4 Acre Lot Parking Total 5 Pool Private YN No Roof Shingle View YN No Waterfront YN No

Interior Features

Adjusted Square Footage 2848 Building Area Total 2848 Cooling Electric Flooring Tile Heating Other Heating YN Yes Stories 1

Property Features

Association YN No Building Name Progresso Cooling YN Yes Documents Available Investment Analysis Horse YN No Listing Terms All CashConventional New Construction YN No Property Condition Substantially Remodeled Property Sub Type Quadruplex Public Survey Section 34 Rent Includes None Senior Community YN No Sewer Public Sewer Structure Type QuadruplexFourplex Tax Annual Amount 10384 Tax Year 2021 Year Built Details Resale Zoning Multi

Listing courtesy of Optimar International Realty.


Copyright 2022, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. The data relating to real estate for sale on this web site comes in part from the participating Associations/MLS’s in the Southeast Florida Regional Multiple Listing Service cooperative agreement, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2022, Participating Associations/MLS’s in the SEFMLS, MIAMI Association of REALTORS, Realtor Association of Greater Ft. Lauderdale, South Broward Board of Realtors. All rights reserved. Use of search facilities of data on the site, other than a consumer looking to purchase real estate, is prohibited. Data last updated 2022-06-27T11:52:09.86.
 
https://bt-photos.global.ssl.fastly.net/miami/1280_boomver_1_A11222307-2.jpg https://bt-photos.global.ssl.fastly.net/miami/1280_boomver_1_A11222307-2.jpg https://bt-photos.global.ssl.fastly.net/miami/1280_boomver_1_A11222307-2.jpg
Logo
Castelli Real Estate Services
2227 Wilton Drive
Fort Lauderdale FL, 33305