1037 9th Ave ,Other, Quadruplex, Progresso for Sale

1037 9th Ave for Sale

Price $1,349,000.00

  • Lot size 2848
  • Year Build 1959
  • Waterfront
  • Zip 33304
  • Style Other
  • Parking Description
  • Pool Yes
  • Status Active With Contract
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Description

Great opportunity to get 10+% CAP ~20% Cash on Cash year one on a 100% remodeled property. A newly remodeled five plex, with 5 1/1 Units with 2,848 SF of rentable space, in a 6,752 SF lot located by Holiday Park, one of the city's most popular public parks, with over 90 acres of land, a couple of blocks from the Bell Sunrise Gallery, the Quantum apartments, and the Beyond Searstown Development, near Galleria Mall, Downtown Fort Lauderdale, and the beaches, ideal and zoned for Airbnb, and right next to the War Memorial Auditorium. With an expected short-term rental yearly income of $230K+ (see AirDNA supported data here) and an NOI of $148K+, it would provide a ~10%+ CoC rate, a levered ~20% CAP rate, and an expected 33% IRR over seven years. No A/c in the property

Submit all offers via MLS Offers: https://www.mlsoffers.com/propertysearch.php?mls=A11298761 For appointment please go to ShowingTime for more information call Kevin at 305-799-7290 or Noel at 954-600-0880

PROGRESSO 2-18 D LOT 6,7 BLK 178

Less Than 1/4 Acre Lot

Great opportunity to get 10+% CAP ~20% Cash on Cash year one on a 100% remodeled property. A newly remodeled five plex, with 5 1/1 Units with 2,848 SF of rentable space, in a 6,752 SF lot located by Holiday Park, one of the city's most popular public parks, with over 90 acres of land, a couple of blocks from the Bell Sunrise Gallery, the Quantum apartments, and the Beyond Searstown Development, near Galleria Mall, Downtown Fort Lauderdale, and the beaches, ideal and zoned for Airbnb, and right next to the War Memorial Auditorium. With an expected short-term rental yearly income of $230K+ (see AirDNA supported data here) and an NOI of $148K+, it would provide a ~10%+ CoC rate, a levered ~20% CAP rate, and an expected 33% IRR over seven years. No A/c in the property

City:Fort Lauderdale,Zoning:Multi,List A O R:A-Miami Association of REALTORS,Stories:1,Tax Year:2021,Latitude:26.1384483,List Price:1349000,Listing Id:A11298761,Longitude:-80.1347677,Mls Status:Active With Contract,Year Built:1959,Directions:Please use Wase or GPS,Living Area:2848,Postal Code:33304,Street Name:9th Ave,Coordinates:1:26.1384483,Photos Count:16,Building Name:PROGRESSO,Days On Market:50,Listing Terms:1:Conventional,2:FHA,3:FHA 203K,Lot Size Units:Square Feet,M L S Area Major:Progresso,On Market Date:2022-11-01,Parcel Number:494234047420,Parking Total:5,Property Type:Residential Income,Rent Includes:1:Trash Collection,Stories Total:1,Street Number:1037,M I A M I R E_ Style:Fourplex,Public Remarks:Great opportunity to get 10+% CAP ~20% Cash on Cash year one on a 100% remodeled property. A newly remodeled five plex, with 5 1/1 Units with 2,848 SF of rentable space, in a 6,752 SF lot located by Holiday Park, one of the city's most popular public parks, with over 90 acres of land, a couple of blocks from the Bell Sunrise Gallery, the Quantum apartments, and the Beyond Searstown Development, near Galleria Mall, Downtown Fort Lauderdale, and the beaches, ideal and zoned for Airbnb, and right next to the War Memorial Auditorium. With an expected short-term rental yearly income of $230K+ (see AirDNA supported data here) and an NOI of $148K+, it would provide a ~10%+ CoC rate, a levered ~20% CAP rate, and an expected 33% IRR over seven years. No A/c in the property,Structure Type:1:Fourplex,County Or Parish:Broward County,Expiration Date:2023-03-01,List Office Name:Optimar International Realty,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:2173,Property Sub Type:Quadruplex,State Or Province:FL,Street Dir Prefix:NE,Subdivision Name:PROGRESSO,Tax Annual Amount:10384,Unparsed Address:1037 NE 9th Ave, Fort Lauderdale FL 33304,Listing Agreement:Exclusive Right To Sell,Year Built Details:Resale,Building Area Total:2848,Building Area Units:Square Feet,M I A M I R E_ L P Amt Sq Ft:473.6657,Original List Price:1349000,Public Survey Range:49,I D X Participation Y N:1,Syndication Remarks:Great opportunity to get 10+% CAP ~20% Cash on Cash year one on a 100% remodeled property. A newly remodeled five plex, with 5 1/1 Units with 2,848 SF of rentable space, in a 6,752 SF lot located by Holiday Park, one of the city's most popular public parks, with over 90 acres of land, a couple of blocks from the Bell Sunrise Gallery, the Quantum apartments, and the Beyond Searstown Development, near Galleria Mall, Downtown Fort Lauderdale, and the beaches, ideal and zoned for Airbnb, and right next to the War Memorial Auditorium. With an expected short-term rental yearly income of $230K+ (see AirDNA supported data here) and an NOI of $148K+, it would provide a ~10%+ CoC rate, a levered ~20% CAP rate, and an expected 33% IRR over seven years. No A/c in the property,Listing Contract Date:2022-11-01,Originating System I D:miamire,Public Survey Section:34,Showing Instructions:Appointment Only,Street Number Numeric:1037,Tax Legal Description:PROGRESSO 2-18 D LOT 6,7 BLK 178,Public Survey Township:49,Originating System Name:Miami Association of REALTORS?,Sub Agency Compensation:1%,M I A M I R E_ Adjusted Area S F:2848,Contract Status Change Date:2022-11-01,Internet Address Display Y N:1,Number Of Units In Community:4,Internet Consumer Comment Y N:1,Transaction Broker Compensation:2.5%,Internet Entire Listing Display Y N:1,Transaction Broker Compensation Type:%,M I A M I R E_ R A T I O_ Current Price_ By_ S Q F T:473.67,Internet Automated Valuation Display Y N:1,

  • Price $1,349,000.00
  • Price Change: 2022-11-04
  • Lot size sq. ft.
  • Price per sq.ft. $
  • Year Build 1959
  • Waterfront
  • View
  • Pool Yes
  • Style Other
  • Construction Other
  • Parking Description
  • Flooring Type Tile
  • Property Type Residential Income
  • Status Active With Contract
  • Listed 2022-11-04
  • Days on Market 93
  • Furnished
  • City Fort Lauderdale
  • Zip 33304
  • State Florida
  • Subdivision
  • Development Name PROGRESSO
  • HOA Fees
  • Taxes 10384
  • Taxes Year 2021