1450 Miami Rd - Apartments FOR SALE


Fort Lauderdale, FL 33316
$3,100,000 USD
954-204-0115
1450 Miami Rd, Fort Lauderdale, FL for Sale
$3,100,000 USD
Apartments - FOR SALE
1/4
null | Request Cap Rate

1450 Miami Rd
Fort Lauderdale, FL 33316


HIGHLIGHTS

  • Unit Mix: 13 Units, (7) 2 Bedroom Units (±720 SF), (5) One Bedroom (±580 SF), and One Studio (±258 SF)
  • Prime Location: 5-minute walk from 17th Street Retail Centers, a 5-minute drive from Downtown Fort Lauderdale (Las Olas) and Broward County Convention
  • Building Features: 8 units fully furnished, and assigned parking for each unit
  • Building Size: ±8,781 SF
  • Lot Size: ±14,572 SF (±0.34 Acres)

OVERVIEW

Matthews Real Estate Investment Services™ is pleased to exclusively offer Via Veneto Apartments located in Fort Lauderdale, Florida. The subject property consists of a thirteen-unit apartment complex. The unit mix consists of (4) two-bedroom two-bath units, (3) two-bedroom one-bath units,(5) one-bedroom one-bath units, and (1) Studio. The living area is 8,781 square feet and the building was constructed in 1965. The building is on a 14,572-square-foot site zoned RML-25 Residential Multifamily Low Rise/Medium High Density per the City of Fort Lauderdale. The complex has seven fully furnished units, which will give the new owner the ability to operate short-term rentals in the future. Via Veneto is located in the highly sought-after neighborhood of Harbordale in Fort Lauderdale, just a short 5-minute drive from Downtown Fort Lauderdale (Las Olas) and Broward County Convention Center. The property also has a Walk Score of 92 with dozens of national retailers on 17th Street being just 5-minutes walking distance. Nearby Fort Lauderdale landmarks also include F3 Marina (0.3 mi.), and Lauderdale Yacht Club (0.8 mi.) Fort Lauderdale Convention Center (1.1 Mi.) Las Olas Beach (3.0 mi.) FTL-Hollywood International Airport (3.3 mi.) This opportunity includes a significant 68% upside in rental income through a renovation strategy. Four of the units are on month-to-month leases, three of them are vacant and the remaining six units have 12-month leases. Matthews Real Estate Investment Services™ has estimated that market rents are $1,500 for Studios, $1,800 for one bedroom, and $2,250 for two bedrooms, which allows the annual rent roll to increase by $128,400. Broker of Record Kyle Matthews License No. CQ1066435 (FL) (866) 889-0550 Matthews Real Estate Investment Services, Inc 1600 West End, Ste. 1500 Nashville, TN 37203

FOR SALE DETAILS

PRICE

$3,100,000 USD

PRICE/SF

$353 USD /SF

# OF UNITS

13

PRICE/UNIT

$238,462

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1966

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,246 SF

ZONING

RML-25

APN/PARCEL ID

48-43-07-19-0440

ASK ABOUT THIS PROPERTY

Gabriel PenaMatthews Real Estate Investment ServicesMore Info
954-204-0115

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Gabriel PenaMatthews Real Estate Investment ServicesMore Info
954-204-0115

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