Multifamily Waterfront Property – 5 Units in Fort Lauderdale, FL – Value Add Opportunity

Category: Multifamily

Price:$2,000,000

Location: Fort Lauderdale, FL

Year Built: 1975

Days on Market: 57

Description:

5 Unit waterfront building in desirable Middle River Terrace submarket in Fort Lauderdale. Great unit mix. 3 - 2 BR, 2 - 1 BR. 1/2 mile to downtown Wilton Manors. Property is concrete block. Central AC. Great value add opportunity. In place ownership for 27 years with current rents well below market. Underlying land value significant and allows construction of 4 units. A new owner could increase rents and bring to current market, potentially operate as short and mid term rental or lastly build new waterfront units.

5 unit waterfront property in Middle River Terrace submarket in Fort Lauderdale, Florida.

Listing Code: 1086517437