Victoria Park Apartments
Closed816-824 NE 16th Terrace, Fort Lauderdale, FL 33304
Property type
Multifamily
Unit / Space count
6
Price
$2,700,000
Building size
5,043 sf
Rentable area
5,043 SF
Year built
1946
Year renovated
Occupancy
100%
Stories
1
APN
494234060330, 494234060320, 494234060310
Zoning code
RMM-25
Lot size
0.50 Acres
Unit mix
6x
1br
Bedroom count
Price per Unit
$450,000
Price per SF
$535.40
Property description
Victoria Park Apartments is a 6-unit multifamily opportunity located in the heart of the Victoria Park submarket in Fort Lauderdale, Florida, which is in Broward County. The portfolio includes 4 buildings (2 Duplexes and 2 Single Family Homes) which are contiguous and sits on a total of .5 Acre. The properties are located just east of Holiday Park and South of E Sunrise Blvd. The properties are both located within an 8-minute drive to Las Olas Beach, and a 4-minute drive to Las Olas Blvd, allowing tenants easy access to major retailers and lifestyle. The location would also allow the potential buyer to run a short-term rental operation or develop the parcels into large townhomes or condominiums. The investment opportunity consists of a unit mix of (4) two-bedroom & one-bathroom units and (2) one-bedroom and one-bathroom homes (1 has private pool access). The total square footage is approximately 5,045. The properties have ample parking as well as value-added opportunities. Victoria Park Apartments offers the investor a rare opportunity to purchase a well-located, value-added property in the heart of Victoria Park which is one of the submarkets in Fort Lauderdale. The opportunity provides cash flow from day one with incredible value add opportunity.
Property highlights
- Off Market Transaction
- RMM-25 Zoning
- 6 Total Apartment Units
- .47 Acre
- $450k/apartment unit
- 3 Property Assemblage