Prime 10-Unit Multi-Family Investment in Desirable Riverside Park, Fort Lauderdale
This well-maintained 10-unit multi-family property is perfectly located in the sought-after Riverside Park neighborhood of Fort Lauderdale, just east of I-95 and south of Broward Boulevard. Situated on a generous 26,470-square-foot lot, the property boasts 8,489 square feet of Gross Building Area, offering a strong blend of convenience, accessibility, and investment potential.
Property Highlights:
Unit Mix: 4 spacious 2BR/2BA units and 6 well-appointed 1BR/1BA units
Parking: Ample on-site parking with 23 spaces for residents and guests
Construction: Durable CBS structure built in 1955
Air Conditioning: Central air in all units
Flooring: Low-maintenance ceramic tile throughout
Roof: Recently replaced, approximately 11 years old
Additional Features:
Each unit was originally assigned a private storage space, equipped with washer/dryer hookups. Currently, these spaces are utilized by the owner for storage, presenting an opportunity to enhance tenant amenities and increase income.
Though the on-site swimming pool was filled in, the expansive lot offers value-add potential for future improvements or added amenities.
Financial Overview:
With strategic upgrades and reconfiguring the storage spaces, there is substantial upside to increase rental income and property value.
Location Benefits:
Just one mile from vibrant Downtown Fort Lauderdale, offering easy access to shopping, dining, and entertainment.
A home across the street recently sold for $1,430,000, underscoring strong demand and rising property values in the neighborhood.
Comparable Sales:
1630 SW 4th Ave – $2,600,000 | 8 units | 5,458 SF BA | 10,890 SF LA
709 SW 4th Ct – $1,700,000 | 7 units | 3,353 SF BA | 13,939 SF LA
411 SW Palm Ave – $2,100,000 | 8 units | 5,648 SF BA | 11,326 SF LA