848 NW 2nd Ave - Apartments FOR SALE


Fort Lauderdale, FL 33311- Progresso Village
$1,049,000 USD
954-743-7594
848 NW 2nd Ave, Fort Lauderdale, FL for Sale
$1,049,000 USD
Apartments - FOR SALE
1/20
null | 7.55% Cap Rate

848 NW 2nd Ave
Fort Lauderdale, FL 33311
Progresso Village


HIGHLIGHTS

  • Unit Mix: Three 1-bed/1-bath units and two studios
  • Stabilized Asset: Fully leased to long-term tenants, offering dependable income with minimal management.
  • Desirable Location: Minutes from Downtown, Flagler Village, Brightline station, and the beach
  • Zoning: RMM-25 flexible residential zoning allows buyer to explore future redevelopment or expansion potential.
  • Seller Financing Available: 45% down, 5.5% interest-only for 3 years.
  • Area Growth: Surrounded by major developments and high-rise projects already underway.

OVERVIEW

Prime 5-unit multifamily in booming Progresso Village, just minutes from Flagler Village, the Brightline station, and the beach. Fully occupied and cash flowing from day one, the property features three 1-bed/1-bath units and two studios, all rented to long-term tenants—most over 5 years. Current monthly income is $8,200 with room for additional upside through future rent increases or improvements. Interiors have been lightly updated, and the property includes separate electric meters and low-maintenance operations. Zoned RMM-25 with redevelopment potential in one of Fort Lauderdale’s fastest-growing corridors. Rare seller financing offered at 5.5% interest-only for 3 years with 35% down.

FOR SALE DETAILS

PRICE

$1,049,000 USD

PRICE/SF

$457 USD /SF

# OF UNITS

5

PRICE/UNIT

$209,800

CAP RATE

7.55%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1972

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

RMM-25

APN/PARCEL ID

49-42-34-06-3450

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 Policy.