820 NE 16th Ave, Fort Lauderdale, FL 33304

$1,899,000
List Price
$1,899,000
Price Change
▼ $100,000 1616786410
MLS#
F10274697
Status
ACTIVE
Type
Commercial
City
Fort Lauderdale
Year Built
1966
Lot Dimensions
13,500

Property Description

Cash Cow in the heart of Victoria Park, this 10-unit complex consists of 2 buildings containing a total of eight 1/1's plus two 2/2's with 12 parking spots. Currently 100% rented, this property is currently generating $133,440 of income per year with expenses of $36,470 (Approximately $5,400 water, $2,760 trash, $2,100 power, $600 lawn care, $3,3350 insurance (no windstorm coverage), $22,260 taxes) netting approximately $96,970.00. Once renovated with central a/c & a w/d in each unit, this project could generate around $180K/yr. Zoning appears to allow 7 town homes based on lot size of 13,500 SF, zoned RMM-25 (buyer to verify with city of Fort Lauderdale). Roofs sealed in 2021. Includes shutters & some impact windows. No showings without signed offer/LOI. PLEASE DO NOT WALK THE PROPERTY.

Additional Information

Taxes
$22,260
Flooring
Ceramic Floor, Tile Floors
Parking Spaces
12
Water
Public Water
Sewer
Public Sanitation

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of David Alexander Realty.