733-795 NW 27th Ave new Save Request In-Person Tour Request Virtual Tour
Fort Lauderdale,FL 33311
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,086 sqft
Price per Sqft $459
Subdivision Washington Park Third Add
MLS Listing ID F10488702
Style Fourplex
Year Built 1948
Annual Tax Amount $12,073
Tax Year 2023
Property Sub-Type Fourplex
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
Interior
Heating Other
Cooling Other
Flooring Other Floors
Exterior
Water Access N
Roof Type Flat Tile Roof
Building
Lot Description 1/4 To Less Than 1/2 Acre Lot
Story 2.0000
Foundation Cbs Construction
Sewer Municipal Sewer
Others
Acceptable Financing Cash,Conventional,Owner Financing
Listing Terms Cash,Conventional,Owner Financing