806 NE 16th Pl - Apartments FOR SALE


Fort Lauderdale, FL 33305- Middle River Terrace
$2,450,000 USD
954-592-4120
806 NE 16th Pl, Fort Lauderdale, FL for Sale
$2,450,000 USD
Apartments - FOR SALE
1/19
null | 4.75% Cap Rate

806 NE 16th Pl
Fort Lauderdale, FL 33305
Middle River Terrace


HIGHLIGHTS

  • Located steps from Wilton Drive - Very Desirable area
  • Excellent opportunity to have long term rentals as well as Short term rentals.
  • Impact windows all around
  • Current leases do not include utilities.
  • Community Laundry on site.

OVERVIEW

Exceptional prime investment opportunity in a highly desirable Fort Lauderdale location just steps from Wilton Manors and vibrant Wilton Drive. This well-maintained 8-unit multifamily property features spacious 2-bedroom, 1-bath units with large bedrooms, terrazzo floors, impact windows, and more. The property enjoys strong year-round occupancy and includes a common laundry area that generates additional income. Current leases do not include water, offering a new owner the opportunity to further increase revenue potential. Ideal for investors seeking flexibility, this property presents the opportunity to operate as a combination of short-term furnished rentals and long-term annual leases. Conveniently located just a few miles from the beach, shopping, dining, and major highways.

FOR SALE DETAILS

PRICE

$2,450,000 USD

PRICE/SF

$371 USD /SF

# OF UNITS

8

PRICE/UNIT

$306,250

CAP RATE

4.75%

% LEASED

88%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1969

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,995 SF

ZONING

RDS-15

APN/PARCEL ID

49-42-35-04-0770

ASK ABOUT THIS PROPERTY

Rosy BaronGibson Real Estate Services CompanyMore Info
954-592-4120

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Rosy BaronGibson Real Estate Services CompanyMore Info
954-592-4120

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