1202 NE 3rd Ave - Apartments FOR SALE


Fort Lauderdale, FL 33304- South Middle River
$1,400,000 USD
954-673-8282
1202 NE 3rd Ave, Fort Lauderdale, FL for Sale
$1,400,000 USD
Apartments - FOR SALE
1/17
null | 5.93% Cap Rate

1202 NE 3rd Ave
Fort Lauderdale, FL 33304
South Middle River


HIGHLIGHTS

  • New metal roof; water filtration; RING cameras 24/7.
  • Full impact windows & doors, New solar panel system (offsets operating costs), New asphalt & professional landscaping

OVERVIEW

Fully Renovated Income Property / CASH-ONLY / SOLD AS-IS. A rare A+ location just ~5 minutes to Downtown Fort Lauderdale and Wilton Manors, ~10 minutes to the beach. This turnkey asset has been hardened and modernized for low maintenance and operational efficiency—ideal for a yield-focused buyer. Major improvements completed: New metal roof; Full impact windows & doors (potential insurance savings); New solar panel system (offsets operating costs); New asphalt & professional landscaping; Property-wide water filtration system; RING cameras with 24/7 security monitoring; Two separate buildings connected by a breezeway with a hurricane-rated roof; Beautiful gated common patio between the two buildings; New appliances included. Current configuration & income: Five rentable spaces — (2 studios, two 1b/1b, one 2b/1b) — producing $8,600/month gross ($103,200/year). Records indicate Duplex; operating as five rentable spaces (non-conforming). The property is priced to reflect its non-conforming configuration; buyer assumes responsibility for all due diligence regarding zoning, legal use, and unit count. Disclosures: Seller/listing agent make no warranties regarding legal use or conformity. Buyer to verify all zoning, licensing, fire/life-safety, parking, insurance, and tax implications to buyer’s satisfaction. One small studio needs finishing. Do not disturb tenants. POF required before any access. Showings coordinated with listing agent only.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$478 USD /SF

# OF UNITS

5

PRICE/UNIT

$280,000

CAP RATE

5.93%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1962

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,752 SF

ZONING

RD-15

APN/PARCEL ID

49-42-34-03-2600

ASK ABOUT THIS PROPERTY

Anastasiia LunevaDalton Wade Real Estate GroupMore Info
954-673-8282

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Anastasiia LunevaDalton Wade Real Estate GroupMore Info
954-673-8282

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