842 1st Ave ,Detached, Quadruplex, Progresso for Sale

842 1st Ave for Sale

Price $2,050,000.00

• Lot size 4753
• Year Build 1973
• Waterfront
• Zip 33311
• Style Detached
• Parking Description
• Pool Yes
• Status Active

Description

Prime 8-unit multifamily in booming Downtown Fort Lauderdale, just off Andrews Ave and Sunrise Blvd in Progresso Village. Fully stabilized with spacious 1-bed/1-bath units featuring modern interiors, impact doors, separate meters, and extensive updates including new kitchens, doors, vanities, light fixtures, cabinets, stone counters, and walk-in closets. Fully leased at $1,750/month on Section 8, providing secure income from day one, with pro forma rents of $1,900+. The 10,000 SF lot (zoned RMM-25 and being rezoned to NW RAC) offers future potential to double the unit count. Rare seller financing at 5.5% interest-only makes this a standout cash flow and redevelopment opportunity in Fort Lauderdale?s fastest-growing corridor.

Submit all offers via MLS Offers: https://www.mlsoffers.com/propertysearch.php?mls=

PROGRESSO 2-18 D LOTS 44 THRU 46 BLK 259

Less Than 1/4 Acre Lot

Prime 8-unit multifamily in booming Downtown Fort Lauderdale, just off Andrews Ave and Sunrise Blvd in Progresso Village. Fully stabilized with spacious 1-bed/1-bath units featuring modern interiors, impact doors, separate meters, and extensive updates including new kitchens, doors, vanities, light fixtures, cabinets, stone counters, and walk-in closets. Fully leased at $1,750/month on Section 8, providing secure income from day one, with pro forma rents of $1,900+. The 10,000 SF lot (zoned RMM-25 and being rezoned to NW RAC) offers future potential to double the unit count. Rare seller financing at 5.5% interest-only makes this a standout cash flow and redevelopment opportunity in Fort Lauderdale?s fastest-growing corridor.

City:Fort Lauderdale,Roof:1:Shingle,Zoning:RMM-25,List A O R:A-Miami Association of REALTORS,Stories:2,Tax Year:2024,Flooring:1:Tile,Latitude:26.1347133,Cooling Y N:1,Heating Y N:1,List Price:2050000,Listing Id:A11831358,Longitude:-80.1447633,Mls Status:Active,Year Built:1973,Living Area:4753,Postal Code:33311,Street Name:1st Ave,Coordinates:1:26.1347133,Photos Count:29,Building Name:PROGRESSO,Days On Market:1,Listing Terms:1:Conventional,2:Owner Will Carry,Lot Size Units:Square Feet,M I A M I R E_ Area:3810,M L S Area Major:Progresso,On Market Date:2025-07-05,Parcel Number:494234063170,Parking Total:11,Property Type:Residential Income,Rent Includes:1:Gardener,2:Other Rent Incl,3:Pest Control,4:Sewer,5:Trash Collection,6:Water,Stories Total:2,Street Number:842,M I A M I R E_ Style:Fourplex,Public Remarks:Prime 8-unit multifamily in booming Downtown Fort Lauderdale, just off Andrews Ave and Sunrise Blvd in Progresso Village. Fully stabilized with spacious 1-bed/1-bath units featuring modern interiors, impact doors, separate meters, and extensive updates including new kitchens, doors, vanities, light fixtures, cabinets, stone counters, and walk-in closets. Fully leased at $1,750/month on Section 8, providing secure income from day one, with pro forma rents of $1,900+. The 10,000 SF lot (zoned RMM-25 and being rezoned to NW RAC) offers future potential to double the unit count. Rare seller financing at 5.5% interest-only makes this a standout cash flow and redevelopment opportunity in Fort Lauderdale?s fastest-growing corridor.,Structure Type:1:Fourplex,County Or Parish:Broward County,List Office Name:Fausto Commercial Realty Consultants Inc,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:7470,Property Sub Type:Quadruplex,State Or Province:FL,Street Dir Prefix:NW,Subdivision Name:PROGRESSO,Tax Annual Amount:20453,Unparsed Address:842 NW 1st Ave, Fort Lauderdale FL 33311,Listing Agreement:Exclusive Right To Sell,Year Built Details:Resale,Building Area Total:4753,Building Area Units:Square Feet,M I A M I R E_ L P Amt Sq Ft:431.3065,Original List Price:2050000,Public Survey Range:49,Documents Available:1:Rent Rolls,I D X Participation Y N:1,Number Of Units Total:8,Syndication Remarks:Prime 8-unit multifamily in booming Downtown Fort Lauderdale, just off Andrews Ave and Sunrise Blvd in Progresso Village. Fully stabilized with spacious 1-bed/1-bath units featuring modern interiors, impact doors, separate meters, and extensive updates including new kitchens, doors, vanities, light fixtures, cabinets, stone counters, and walk-in closets. Fully leased at $1,750/month on Section 8, providing secure income from day one, with pro forma rents of $1,900+. The 10,000 SF lot (zoned RMM-25 and being rezoned to NW RAC) offers future potential to double the unit count. Rare seller financing at 5.5% interest-only makes this a standout cash flow and redevelopment opportunity in Fort Lauderdale?s fastest-growing corridor.,Listing Contract Date:2025-07-05,Originating System I D:miamire,Public Survey Section:34,Showing Instructions:Call Listing Agent,Street Number Numeric:842,Tax Legal Description:PROGRESSO 2-18 D LOTS 44 THRU 46 BLK 259,Public Survey Township:49,Construction Materials:1:CBS Construction,Originating System Name:Miami Association of REALTORS?,M I A M I R E_ Adjusted Area S F:4753,M I A M I R E_ Internet Remarks:Please visit Fausto Commercial,Contract Status Change Date:2025-07-05,Internet Address Display Y N:1,Number Of Units In Community:1,Internet Consumer Comment Y N:1,M I A M I R E_ Ok To Advertise List:No,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:431.31,Internet Automated Valuation Display Y N:1,