Rare opportunity to acquire income-producing duplex (2 1/1s) w/ additional development capacity in Fort Lauderdale's rapidly developing Studio City at over 30% below market value. Keep the existing duplex (w/separate water & electric meters) & add 8 units for 10 units total. Included site plan shows layout, parking, & access.… Read More Meeting with city has been held; feasibility & zoning compliance confirmed. Land comps:$91k-$117k per unit sold, $129k-$162k per unit active. Active & sold multifamily comps:$200k(not renovated)-$320k(renovated) per unit. Subject property: partially renovated duplex + 8 units of buildable land; market value ~$1.2M. 1 bed rents:$1.6k-$2.3k/mo. Build cost ~$1.2M. All in:~$2M. Projected value:$3M+ = $1M+ equity. Potential ~10% cap. Opportunity zone. Seller will finance. Read Less
Courtesy of United Realty Group Inc. 954-450-2000
Listing Snapshot
Days Online
24
Last Updated
Property Type
Duplex
Square Ft.
1,053
Lot Size
0.23 Acres
Year Built
1957
MLS Number
B26033753
30 Days Snapshot Of 33304
$950k
+18%
(avg) sold price
21
-41%
homes sold
161
+20%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1957, Living area: 1053, Construction materials: "CBS", "Stucco", Toal building area: 1053, 2 total units
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed.
Confirm your time
Fill in your details and we will contact you to confirm a time.
