Victoria Cottages
Closed921-925 NE 17th Avenue, Fort Lauderdale, FL 33304
Property type
Multifamily
Unit / Space count
10
Price
$1,600,000
Building size
5,276 sf
Rentable area
5,276 SF
Year built
1959
Year renovated
Occupancy
Zoning code
Lot size
0.31 Acres
Sold/status
Sold · Date unknown
Sale price
$1600000
Bedroom count
Property description
Victoria Cottages is a 10-unit multifamily community in Broward County located in the heart of Fort Lauderdale, Florida. The subject property was built in 1959 with a stem wall foundation, concrete block exterior, and has a shingled gable roof. The property is situated on .31 acres of land. The property is located on NE 17th Ave and stands just off of Sunrise Blvd. The asset is conveniently located west of US-1, south of Sunrise Blvd, and just east of N Victoria Park Rd. The property neighbors Class A multifamily buildings, grocery stores, Holiday Park, and the Gateway Shopping Center. The investment opportunity consists of (2) one-story buildings. It offers an excellent unit mix of (8) one bed one bath, (1) one bed one bath + office, and (1) two bedroom two bath units totaling approximately 5276 RSF. This property offers amenities such as tropical landscaping and ample parking. Residents pay electric, cable, and telephone. Victoria Cottages offers an investor the ability to purchase an unbelievably located, beautifully comprised, asset that has room to invest money and increase value. This investment offers a new buyer the opportunity to raise rents to market or leverage the popular short-term rental market in the area. Capitalize on this opportunity to own an asset with some of the strongest rental rates for comparative sub markets in Broward.
Property highlights
- Closed within 5.7% of Asking Price
- Competitive Deal – Multiple Offers Generated – 57 Days Contract to Close
- Seller Realized a 171% Appreciation in Value since Acquisition in 2011
- Highly Desirable AAA Location near Downtown Fort Lauderdale