616 & 626 SW 14th Ave - Apartments FOR SALE


Fort Lauderdale, FL 33312
$7,950,000 USD
954-918-4902
616 & 626 SW 14th Ave, Fort Lauderdale, FL for Sale
$7,950,000 USD
Apartments - FOR SALE
1/32
null | 5.75% Cap Rate

616 & 626 SW 14th Ave
Fort Lauderdale, FL 33312


HIGHLIGHTS

  • Located in East Fort Lauderdale minutes from Las Olas and the financial district
  • Great unit mix of 19 2-bedroom 1-bath units and 13 1-bedroom 1-bath units
  • Interiors feature ceramic tile flooring, first floor patios, updated kitchens and baths.
  • Brand new roofs and gutters!
  • Corner Lot with ample parking

OVERVIEW

Meridian Commercial is proud to present a 32-unit, two story apartment complex in the heart of Fort Lauderdale. The complex is comprised of two parcels and sits on just under an acre of land, 39,000 SF (.8953 AC). This investment opportunity boasts an attractive unit mix of 19-2 bedroom 1 bath units and 13-1 bedroom 1 bath units. Each apartment has updated kitchens and baths with tile flooring throughout and corner first floor units come with large patios. Travertine stone surrounds a community pool, with lounge chairs and a BBQ area for tenants. Property features owner operated laundry machines, a bicycle area along with ample parking for tenants’ convenience. Recent upgrades include new roofs and gutters on both buildings (2024)and replacement of all living rm window units for split system AC units. The property is located in the highly desirable neighborhood of Riverside Park. An historical neighborhood tucked between the New River’s northern and southern forks, with interstate 95 on the western edge and on the southern border Davie Blvd and to the north is Broward Blvd. This residential enclave is a scenic community with tree-lined streets that compliment the tropical landscape. A diverse mix of residents inhabit this community with riverfront estates with private docks, ranch style homes, newly constructed townhouses, small cottages and apartment complexes alike. The area offers residents an urban suburban feel that is five minutes from downtown. There are three entrances to the neighborhood, one of which is Florida’s last operational swing bridge. Home to three parks, Stranahan High School, the very popular Riverside Market and a few other local shops, the feeling and atmosphere of the area is unique and unparalleled. Offering Memorandum available upon request!

FOR SALE DETAILS

PRICE

$7,950,000 USD

PRICE/SF

$331 USD /SF

# OF UNITS

32

PRICE/UNIT

$248,438

CAP RATE

5.75%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sea Diamond Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.89 AC

LAND SF

38,768 SF

ZONING

RD 15

APN/PARCEL ID

50-42-09-02-0890,50-42-09-02-0900

ASK ABOUT THIS PROPERTY

Julie AbolafiaMeridian CommercialMore Info
954-918-4902

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Julie AbolafiaMeridian CommercialMore Info
954-918-4902

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