50 SE 12th St - Apartments FOR SALE


Fort Lauderdale, FL 33316- Downtown Fort Lauderdale
$5,500,000 USD
845-304-5148
50 SE 12th St, Fort Lauderdale, FL for Sale
$5,500,000 USD
Apartments - FOR SALE
1/46
null | Request Cap Rate

50 SE 12th St
Fort Lauderdale, FL 33316
Downtown Fort Lauderdale


HIGHLIGHTS

  • Rare Opportunity Featuring (23) 1 Bed 1 Bath and (1) 2 Bed 1 Bath Units - All Fully Furnished Units
  • Irreplaceable Turn-Key Opportunity with Ability to Run as Either a Short-Term or Tradition Rental
  • Current Manager Runs as Short-Term Rentals, Open to Staying on with New Ownership
  • Perfectly Situated a few Blocks West of US-1, Walking Distance to Downtown Ft. Lauderdale
  • Major development projects under construction and proposed in the surrounding area
  • Easy access to US-1, Davie Blvd, Las Olas Blvd, Broward Blvd and US Federal Hwy 1 and major thoroughfares such as I-95 and Florida's Turnpike

OVERVIEW

The Rustic Manor Apartments is a 24-unit multifamily community located in the heart of the Poinciana Park submarket in Fort Lauderdale, Florida, which is in Broward County. The subject property was built in 1973 using reinforced concrete block construction with painted stucco exterior and is situated on 0.49 acres of land. The property is located on the west side of SE 12th St and is just a block from major retailers. The surrounding area boasts multi-family buildings of similar age and construction. Due to the premium location, there are many luxurious homes within the neighborhood. The asset is conveniently located West of S Federal Hwy, North of Marina Mile Blvd, South of Davie Blvd, and directly east of I-95. Within minutes of driving, you can access the world-famous Fort Lauderdale Beach, renowned Las Olas Blvd and the shops and restaurants of the Galleria Mall. The investment opportunity consists of a highly attractive unit mix of (23) one-bedroom & one-bathroom, and (1) two-bedroom & one-bathroom totaling approximately 10,141 RSF. The property boasts amenities such as ample parking, sparkling pool, on-site laundry, electric door access and fully furnished units. The Rustic Manor offers an investor the opportunity to purchase an unbelievably located property with no deferred maintenance in the heart of one of the hottest markets in Florida. By implementing either a short term or long term rental plan, the new owner will eb able to capitalize on the strong rents and desirability of downtown Ft. Lauderdale.

FOR SALE DETAILS

PRICE

$5,500,000 USD

PRICE/SF

$541 USD /SF

# OF UNITS

24

PRICE/UNIT

$229,167

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Rustic Manor Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

32

LAND DETAILS

LAND ACRES

0.49 AC

LAND SF

21,344 SF

ZONING

SRAC-SAE

APN/PARCEL ID

50-42-15-10-0210

ASK ABOUT THIS PROPERTY

Daniel DratchFranklin StreetMore Info
845-304-5148

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Daniel DratchFranklin StreetMore Info
845-304-5148

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