842 NW 1st Ave, Fort Lauderdale FL 33311
Basics
- Price per sqft: $431.31
- Category: Residential Income
- Type: Quadruplex
- Status: Active
- Floors: 2
- Area: 4753 sq ft
- Lot size: 0 sq ft
- Year built: 1973
- Year remodeled: Resale
- MLS ID: A11831358
Description
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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.
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Location
- Neighborhoods: PROGRESSO
Building Details
- Floor covering: Other, Tile
- Exterior material: CBS Construction, Concrete Block Construction
- Roof: Built-up, Shingle
- Parking: 11