1106 NE 5th Avenue

Fort Lauderdale, 1106 NE 5th Avenue, 33304

Quick Summary

Price: $518,000
Area:: 4,000 sq ft

Property Description

No. Units: 4
Lot Size: 10,000 SF
Price/Unit: $129,500 /Unit
Property Type: Multifamily
Property Sub-type: Duplex/Triplex/Fourplex
Property Use Type: Investment
Commission Split: 6%
Cap Rate: 9%
Occupancy: 100%
No. Stories: 1
Year Built: 1981
Status: Active

The deal is for five legal units. All units have separate electric meters. Complex is in good shape but needs landscaping, paint and some updates. Once improvements are made rents can be increased as they are below market as of now. Complex is on private cul-de-sac and has little or no car traffic daily. Just west of US-1 in Ft Lauderdale. Complex consists of 2 units that are two bedroom and 3 units that are one bedroom one bath for a total of 5 UNITS!!! This property is fully leased has UPSIDE!!!

Location Description:
Just west of US-1 on commercial BLVD… semi private rd on a cul-de-sac. Quiet street little to none traffic… a hidden gem.

Financial Summary / Actual
Year / 2015
Scheduled Gross Income / $51,660
Net Operating Income / $46,620

Unit Mix Information:
Description / No. Units / Avg. Mo. Rent / Sq. Ft.
2 bedroom / 1 / $915 / 1,200
2 bedroom / 1 / $915 / 1,200
1 bedroom / 1 / $800 / 700
1 bedroom / 1 / $825 / 700
1 bedroom / 1 / $850 / 700

Property Features

Gross $51 660.
One owner for 30+ years
Plenty of parking
Room for rent increase
Separate electric meters

Map

Contact Agent

George Coloney

Considered by his peers as an astute businessman, a top-flight salesman and a fierce competitor, George Coloney makes it crystal clear that his clients are getting the best representation available in the business world today. The value added benefits that he offers go beyond his vast experience in negotiations; they go to the heart of what makes a true entrepreneur. After his decorated service in the United States Marine Corps, George embarked on a successful career in the life and health insurance industry, becoming a perennial leader for several major life insurance companies, where he earned designations as a member of “The Million Dollar Round Table” and “The Five Million Dollar Forum”. In 1984, George Coloney built the largest, privately held, public telecommunications in the United States. He founded U.S. Communications, National Telecommunications Consultants Inc, Colonial Systems Inc., Telefonos Publicos de PR Inc., First Canadian Telecom Inc., Hola Communications Inc., and The Coloney Group. With this experience, George Coloney has the background to assist entrepreneurs with the purchase of their own business. In the first five minutes of observing George in a business meeting, you’ll realize that he takes charge. Using skills normally recognized in the world’s most elite salespeople, George Coloney takes a no nonsense approach to selling Real Estate. After all, isn’t a great negotiator and experiences businessman what you are really looking for? Now, as a top agent in the state of Florida and in the top 40 nationally, George is leading the real estate industry specializing in land aggregation, commercial redevelopment and pre-construction opportunities.