2901 Middle River Dr - Apartments FOR SALE


Fort Lauderdale, FL 33306
$3,295,000 USD
954-563-6800
2901 Middle River Dr, Fort Lauderdale, FL for Sale
$3,295,000 USD
Apartments - FOR SALE
1/15
null | Request Cap Rate

2901 Middle River Dr
Fort Lauderdale, FL 33306


HIGHLIGHTS

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

OVERVIEW

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 $206,000/unit this is the best value in the area! Please do not disturb the tenants.

FOR SALE DETAILS

PRICE

$3,295,000 USD

PRICE/SF

$388 USD /SF

# OF UNITS

16

PRICE/UNIT

$205,938

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Middle River Gardens Apts - 16 Unit Complex

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1957

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.52 AC

LAND SF

22,496 SF

ZONING

RMM-25

APN/PARCEL ID

49-42-25-04-5170

ASK ABOUT THIS PROPERTY

Ross Z. HermanThe Keyes CompanyMore Info
954-563-6800

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Ross Z. HermanThe Keyes CompanyMore Info
954-563-6800

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