Aqua Di Venice Residences
Closed90 Isle of Venice Dr, Fort Lauderdale, FL 33301
Property type
Multifamily
Unit / Space count
8
Price
$4,800,000
Building size
5,360 sf
Rentable area
5,360 SF
Year built
1950
Year renovated
Occupancy
Zoning code
Lot size
0.34 Acres
Sold/status
Sold · Date unknown
Sale price
$4800000
Bedroom count
Property description
90 Isle of Venice is a rare 12-unit opportunity with 7 Boat Docks located in the heart of the Hendricks and Venice Isles submarket in Fort Lauderdale, Florida, which is in Broward County. The opportunity is made up of one building built in 1950 using reinforced concrete block construction with painted stucco exterior and is situated on 0.34 acres of land on the water with 120-foot-wide lot. The property is located on the east side of Isle of Venice and a 5-minute walk from the famous downtown Las Olas Blvd. The surrounding area boasts multi-family buildings and luxury condos of similar age and construction. Due to its rare location, there is a massive desire from tenants looking for a waterfront opportunity. The asset is conveniently located just north of Las Olas Blvd, east of Federal Hwy, and directly west of Federal Hwy. Within minutes of walking, you can have direct access to the world-famous Fort Lauderdale Beach, and renowned Las Olas Blvd. Additionally, 90 Isle of Venice is situated in one of the most desired & well-known neighborhoods in Broward County known as Hendricks and Venice Isles. This investment opportunity consists of a highly attractive unit mix of (4) Efficiency Units, (4) Studios, and (4) 1 Bed 1 Bath Units. The property boasts amenities such as ample parking, waterfront views, on-site laundry, and tropical landscaping. 90 Isle of Venice offers an investor the opportunity to purchase an irreplaceable waterfront property in the heart of one of the rarest markets in Florida. By implementing a beautification plan we project a potential increase of 41% in the gross rental income for the new investor. The investment opportunity offers amazing cash flow day one with the ability to add value in a rare area as well as the opportunity to redevelop the land into condos such as the neighboring buildings on the street.
Property highlights
- Sold ALL CASH to Local Developer Who Plans to Build Luxury Condominiums
- Off Market Transaction, Franklin Street Represented Both Buyer & Seller
- 8-Unit Apartment Building With 7 Boat Docks
- RMM-25 Zoning - 120x120 SQFT Lot
- One Of Last Remaining Waterfront Development Sites On The Las Olas Isles
- Located In The Exclusive Submarket Of Hendricks and Venice Isles
- Direct Access to Both Downtown Fort Lauderdale and Las Olas Beach