733-795 NW 27th Ave new Save Request In-Person Tour Request Virtual Tour
Fort Lauderdale,FL 33311
Key Details
Property Type Vacant Land
Sub Type Residential
Listing Status Active
Purchase Type For Sale
Subdivision Washington Park Third Add
MLS Listing ID F10488687
Annual Tax Amount $12,073
Tax Year 2023
Lot Size 0.330 Acres
Property Sub-Type Residential
Property Description
One of the last corner lots on rapidly developing NW 27 Ave, buildable for 24 residential units. Drive 27th & nearby areas: see surge of construction. Minutes from new Walmart plaza, Starbucks, Downtown, I-95, 441, & Turnpike. Site plan for 24 large 1 bed/1 bath units included—customize or design your own. Active comps: $60k-$86k/unit for land; recently sold comps: $42k(disqualified)-$82.5k/unit for land. Subject property under $40k/unit: six figures below market. Nearby rents: 1 beds $1.6k-$2.1k. Construction cost: $3.5M+/-; total cost: Under $4.5M; projected value: $7M+: $2.5M+ instant equity. Potential 10%+/- cap rate. Opportunity zone: huge tax benefits. Seller will finance. Eligible for county grant of up to $300k towards construction. DND tenants. Can also be commercial or mixed-use.
Location
State FL
County Broward County
Area Ft Ldale Nw(3390-3400;3460;3540-3560;3720;3810)
Zoning B-3
Exterior
Water Access N
Others
Acceptable Financing Cash,Conventional,Owner Financing
Listing Terms Cash,Conventional,Owner Financing