1350-1400 NE 5th Ter - Apartments FOR SALE


Fort Lauderdale, FL 33304- Middle River Terrace
$6,500,000 USD
954-743-7594
1350-1400 NE 5th Ter, Fort Lauderdale, FL for Sale
$6,500,000 USD
Apartments - FOR SALE
1/26
null | 7.8% Cap Rate

1350-1400 NE 5th Ter
Fort Lauderdale, FL 33304
Middle River Terrace


HIGHLIGHTS

  • Prime Middle River Terrace Asset: 28-unit property with an all 2BD/1BA unit mix in a top Fort Lauderdale rental area.
  • Renovation Mix: 14 units fully renovated, New Kitchens, Flooring, Lighting, Bathrooms, Impact windows/doors, Central AC and many more upgrades.
  • Strong Compliance: 40-year recertification completed; ample on-site parking.
  • Value-Add Upside: ~8 current vacancies created by renovations—ideal for lease-up at market rents.
  • Cash Flow: Nearly an 8% cap rate at full occupancy.
  • Location: Minutes to Wilton Drive, Downtown, Las Olas, the beach, and FLL Airport.

OVERVIEW

A rare opportunity to acquire a 28-unit property in Fort Lauderdale’s highly sought-after Middle River Terrace, featuring an unbeatable unit mix of all 2BD/1BA apartments—half fully renovated. The property offers brand-new impact windows and doors, newer AC's, a completed 40-year recertification, plenty of parking, and substantial upside, with recent interior renovations resulting in approximately 8 current vacancies which are currently up for rent. At full occupancy, the asset delivers nearly an 8% cap rate, making it an exceptional cash-flow opportunity in one of the city’s strongest rental corridors. Ideally located just minutes from Wilton Drive, Downtown, Las Olas, the beach, and FLL Airport, this property offers stability, income growth, and long-term appreciation potential.

FOR SALE DETAILS

PRICE

$6,500,000 USD

PRICE/SF

$315 USD /SF

# OF UNITS

28

PRICE/UNIT

$232,143

CAP RATE

7.8%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Middle River Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.1 AC

LAND SF

47,916 SF

ZONING

RM-15

APN/PARCEL ID

49-42-34-00-0320,49-42-34-00-0321

ASK ABOUT THIS PROPERTY

Elior LeviFausto Commercial Realty ConsultantsMore Info
954-743-7594

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Elior LeviFausto Commercial Realty ConsultantsMore Info
954-743-7594

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