1241 NE 16th Ter - Apartments FOR SALE


Fort Lauderdale, FL 33304
$2,000,000 USD
954-595-2999
1241 NE 16th Ter, Fort Lauderdale, FL for Sale
$2,000,000 USD
Apartments - FOR SALE
1/24
null | Request Cap Rate

1241 NE 16th Ter
Fort Lauderdale, FL 33304


HIGHLIGHTS

  • Impact Resistant Windows (2023)
  • New Roof (2024)
  • 100% Occupancy

OVERVIEW

This remarkable multifamily property offers a blend of impeccable location and income-generating potential in the center of Fort Lauderdale. It offers 7 conforming units with an additional non-conforming unit. The versatile layout includes 3 studio apartments, 3 1-bedroom/1-bath units, and a spacious 3-bedroom/2-bath residence, accommodating everyone from young professionals to families seeking ample living space. Positioned within close proximity of Fort Lauderdale’s renowned beaches, eclectic dining, and bustling shopping hubs, this property stands as a coveted address for investors. This fully-leased multifamily asset stands as a premier income-generating opportunity, anchored by a solid base of long-term, quality tenants. Beyond stable rental income, the property also benefits from an additional passive revenue stream through its on-site, coin-operated laundry facility, offering investors a consistent boost to overall cash flow. Recently upgraded, this asset received a brand-new roof in 2024 and the installation of impact-resistant windows and doors in 2023. Designed to optimize profitability with minimal oversight, the recent enhancements and consistent tenant base make it an improved investment, with reliable, diversified income streams, enhancing its potential as a passive, income-generating asset in a prime rental market. Positioned in a prime Fort Lauderdale location, it’s close to major thoroughfares like US1 and Sunrise Blvd, placing tenants within minutes of the Studio City, Downtown Fort Lauderdale, the dynamic Searstown redevelopment, and planned FAT Village redevelopment.. Just a short drive from Fort Lauderdale Beach, this property offers convenience and lifestyle appeal that attract quality tenants and maintain high occupancy. This property combines a stabilized income with high-demand features, making it a valuable addition to any investment portfolio. The rare opportunity presents an exceptional chance to secure steady returns in a prime, high-demand location where urban convenience meets coastal charm.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$509 USD /SF

# OF UNITS

7

PRICE/UNIT

$285,714

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Multi-Family

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1968

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

RC-15

APN/PARCEL ID

49-42-34-02-8930

ASK ABOUT THIS PROPERTY

Jaime SturgisNative Realty Co.More Info
954-595-2999

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Jaime SturgisNative Realty Co.More Info
954-595-2999

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.