50 SE 12th St - Apartments FOR SALE


Fort Lauderdale, FL 33316- Poinciana Park
$5,000,000 USD
845-304-5148
50 SE 12th St, Fort Lauderdale, FL for Sale
$5,000,000 USD
Apartments - FOR SALE
1/43
null | 5.74% Cap Rate

50 SE 12th St
Fort Lauderdale, FL 33316
Poinciana Park


HIGHLIGHTS

  • Rustic Manor Apartments offers an irreplaceable turnkey multifamily investment with the ability to run as either a short-term or a tradition rental.
  • This rare opportunity features (23) 1 bed x 1 bath and (1) 2 bed x 1 bath units, and all units are fully furnished for guest convenience.
  • The current management runs the apartments as short-term rentals and is open to staying on with new ownership.
  • Major development projects are under construction and proposed in the surrounding area, providing strength to local businesses.
  • Perfectly situated a few blocks west of US-1, the apartments sit within walking distance of Downtown Ft. Lauderdale.
  • Property residents have easy access to US-1, Davie Blvd, Las Olas Blvd, Broward Blvd and US Federal Hwy 1, as well as I-95 and the Florida 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 Rustic Manor Apartments are located on the west side of SE 12th St and just a block from major retailers. The surrounding area boasts multifamily 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 Highway, North of Marina Mile Boulevard, South of Davie Boulevard, and directly east of I-95. Within minutes of driving, residents 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 rentable square feet. The property boasts amenities such as ample parking, a sparkling pool, on-site laundry facilities, 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 can capitalize on the strong rents and desirability of downtown Ft. Lauderdale.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$491 USD /SF

# OF UNITS

24

PRICE/UNIT

$208,333

CAP RATE

5.74%

% 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.