515 SE 9th St - Apartments FOR SALE


Fort Lauderdale, FL 33316- Rio Vista
$2,785,000 USD
845-304-5148
515 SE 9th St, Fort Lauderdale, FL for Sale
$2,785,000 USD
Apartments - FOR SALE
1/26
null | 5.13% Cap Rate

515 SE 9th St
Fort Lauderdale, FL 33316
Rio Vista


HIGHLIGHTS

  • Rare Opportunity To Acquire A Well-Maintained 11-Unit Multifamily Asset In The Lucrative Tarpon River Neighborhood Of Fort Lauderdale
  • Property Sits On 0.26 Acre Lot With Favorable RAC-CC Zoning For Future Redevelopment Potential
  • Strong Day 1 Cash Flow With The Ability To Further Increase Rents An Additional 6.53% With Minimal To No Capital Expenditures
  • Some Community Amenities Include Designated Parking For Tenants & Guests, Common Laundry, Outdoor Community Space With Grill, And Security System
  • Prime Tarpon River Location Within Walking Distance To Restaurants, Retailers, Nightlife, Schools, And More
  • Located East Of I-95 Just Off Federal Hwy Providing Tenants Easy Access To Downtown Fort Lauderdale And Beyond

OVERVIEW

This well-positioned multifamily offering in Fort Lauderdale presents a compelling opportunity for investors seeking a stable, low-rise / garden-style asset in an established urban submarket. The property consists of an approximately 6,074 square foot building with 11 residential units, originally constructed in 1966. Its classic construction and efficient unit mix align well with sustained renter demand for workforce and lifestyle oriented housing in close proximity to Downtown Fort Lauderdale and surrounding employment centers. The property is currently 100% occupied, providing immediate in-place cash flow and demonstrating the strength of the local rental market. Its zoning designation of RAC-CC – Regional Activity Center / City Center District enhances long-term upside potential, allowing for continued multifamily use within one of Fort Lauderdale’s most flexible and growth oriented zoning categories. Located within the Fort Lauderdale area, the property benefits from strong market fundamentals driven by limited supply of comparable low-rise multifamily inventory, ongoing redevelopment nearby, and consistent population and employment growth. The combination of stabilized occupancy, favorable zoning, and an infill location makes this asset particularly attractive to investors seeking durable income with the potential for future value enhancement in one of South Florida’s most dynamic multifamily markets.

FOR SALE DETAILS

PRICE

$2,785,000 USD

PRICE/SF

$352 USD /SF

# OF UNITS

11

PRICE/UNIT

$253,182

CAP RATE

5.13%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Tarpon River Flats

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1967

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

RAC-CC

APN/PARCEL ID

50-42-10-61-0120

ASK ABOUT THIS PROPERTY

Daniel DratchFranklin StreetMore Info
845-304-5148

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Daniel DratchFranklin StreetMore Info
845-304-5148

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