1175 16th Ave ,Detached, Quadruplex, Riverside Park Add Amen P for Sale

1175 16th Ave for Sale

Price $1,165,000.00

• Lot size 1502
• Year Build 1987
• Waterfront
• Zip 33312
• Style Detached
• Parking Description
• Pool Yes
• Status Active

Description

Excellent investment opportunity in Fort Lauderdale with this multifamily with two independent buildings. Each building has two badroom two-bedroom apartments, offering a total of four units generating $87K/year income, $67K/year NOI for a 5.6% CAP, easily upgradable to comparable units nearby for a total $112K/year income and a $92K NOI and a 7% CAP. With a total of 9,220 square feet of land and 1,502 square feet of construction per building, this property is ideal for investors looking to add value through improvements. Ask us for OM and complete investment package!!

Submit all offers via MLS Offers: https://www.mlsoffers.com/propertysearch.php?mls=A11573474 There are two separate lots, each one has a building with two apartments has two badroom two-bedroom, the Folios are 504209130421 and 504209130420. Property Address 1175 SW 16 Ave, Fort Lauderdale and 1185 SW 16 Ave, Fort Lauderdale.

RIVERSIDE PARK ADD AMEN PLAT 10-37 B THE N 46 OF LOTS 24,25 & 26 TOGETHER WITH W 25 OF VAC 16 AVE BLK 14

Less Than 1/4 Acre Lot

Excellent investment opportunity in Fort Lauderdale with this multifamily with two independent buildings. Each building has two badroom two-bedroom apartments, offering a total of four units generating $87K/year income, $67K/year NOI for a 5.6% CAP, easily upgradable to comparable units nearby for a total $112K/year income and a $92K NOI and a 7% CAP. With a total of 9,220 square feet of land and 1,502 square feet of construction per building, this property is ideal for investors looking to add value through improvements. Ask us for OM and complete investment package!!

City:Fort Lauderdale,Zoning:RD-15,Heating:1:Electric,List A O R:A-Miami Association of REALTORS,Stories:2,Tax Year:2022,Flooring:1:Terrazzo,Latitude:26.1074473,Cooling Y N:1,Heating Y N:1,List Price:1165000,Listing Id:A11573474,Longitude:-80.1630065,Mls Status:Active,Year Built:1987,Living Area:1502,Postal Code:33312,Street Name:16th Ave,Coordinates:1:26.1074473,Photos Count:26,Building Name:RIVERSIDE PARK ADD AMEN P,Days On Market:91,Listing Terms:1:Conventional,Lot Size Units:Square Feet,M I A M I R E_ Area:3470,M L S Area Major:Riverside Park Add Amen P,On Market Date:2024-04-22,Parcel Number:504209130421,Parking Total:8,Property Type:Residential Income,Stories Total:2,Street Number:1175,M I A M I R E_ Style:Fourplex,Public Remarks:Excellent investment opportunity in Fort Lauderdale with this multifamily with two independent buildings. Each building has two badroom two-bedroom apartments, offering a total of four units generating $87K/year income, $67K/year NOI for a 5.6% CAP, easily upgradable to comparable units nearby for a total $112K/year income and a $92K NOI and a 7% CAP. With a total of 9,220 square feet of land and 1,502 square feet of construction per building, this property is ideal for investors looking to add value through improvements. Ask us for OM and complete investment package!!,Structure Type:1:Fourplex,County Or Parish:Broward County,List Office Name:Optimar International Realty,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:Price Decrease,Postal Code Plus4:3213,Property Sub Type:Quadruplex,State Or Province:FL,Street Dir Prefix:SW,Subdivision Name:RIVERSIDE PARK ADD AMEN P,Tax Annual Amount:7351,Unparsed Address:1175 SW 16th Ave, Fort Lauderdale FL 33312,Listing Agreement:Exclusive Right To Sell,Year Built Details:Resale,Building Area Total:1502,Building Area Units:Square Feet,M I A M I R E_ L P Amt Sq Ft:775.6325,Original List Price:1198000,Previous List Price:1198000,Public Survey Range:5042,Building Area Source:Owner,I D X Participation Y N:1,Number Of Units Total:4,Syndication Remarks:Excellent investment opportunity in Fort Lauderdale with this multifamily with two independent buildings. Each building has two badroom two-bedroom apartments, offering a total of four units generating $87K/year income, $67K/year NOI for a 5.6% CAP, easily upgradable to comparable units nearby for a total $112K/year income and a $92K NOI and a 7% CAP. With a total of 9,220 square feet of land and 1,502 square feet of construction per building, this property is ideal for investors looking to add value through improvements. Ask us for OM and complete investment package!!,Listing Contract Date:2024-04-22,Originating System I D:miamire,Showing Instructions:24 Hour Notice,Street Number Numeric:1175,Tax Legal Description:RIVERSIDE PARK ADD AMEN PLAT 10-37 B THE N 46 OF LOTS 24,25 & 26 TOGETHER WITH W 25 OF VAC 16 AVE BLK 14,Public Survey Township:5042,Originating System Name:Miami Association of REALTORS?,M I A M I R E_ Adjusted Area S F:1502,M I A M I R E_ Internet Remarks:Excellent Investment Opportunity in Fort Lauderdale for this Multi Family!!,M I A M I R E_ Showing Time Flag:1,Contract Status Change Date:2024-04-22,Internet Address Display Y N:1,Number Of Units In Community:4,Internet Entire Listing Display Y N:1,M I A M I R E_ R A T I O_ Current Price_ By_ S Q F T:775.63,