409 N.E. 1st Avenue Fort Lauderdale FL 33301

$600,000 USD.

409 NE 1st Ave, Fort Lauderdale, FL 33301, USA 26.1264921
6375 sqft
1896 sqft

409 N.E. 1st Avenue

Native Realty is proud to present this fully leased multifamily opportunity in Flagler Village Fort Lauderdale. The property is located steps from Downtown Fort Lauderdale's All Aboard Florida's train station, the famous F.A.T. Village arts district, Las Olas Blvd., and the planned 1.35 million sq. foot F.A.T. CITY project.

The site features a 3 bedroom / 2 bath residence in the front and a 1 bedroom / 1 bath residence in the back. The property features RAC-UV Zoning which permits a wide range of redevelopment options. Many of the surrounding properties in the neighborhood have been purchased in recent years and assembled for larger multifamily and mixed use development sites.

This is one of the few remaining blocks in the neighborhood still available to be assembled.

Address: 409 N.E. 1st Avenue Fort Lauderdale FL 33301

Building: 1,896 sq. feet

Land: 6,375 sq. feet

Zoning: RAC-UV

Price: $600,000

Income

Unit 1 (3 bed / 2bath): $2,070/month - January 2022

Unit 2 (1 bed / 1bath): $1,200/month - Month to Month

Expenses

Property taxes: $7,200 / yr

Insurance: $2,600 / yr

Maintenance: $400 / yr

Lawn: $360 / yr

Gross Income: $39,240

Expenses: $10,560

NOI: $28,680

Cap Rate: 4.78%

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Agent Details

Jaime Sturgis

  • 954-595-2999
  • 954-383-2289

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