1106 NE 5th Avenue

Florida, 1106 NE 5th Avenue, 33304

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

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