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Tarpon River Flats 515 SE 9th St 11 Unit Apartment Building $3,774,510 CAD ($343,137 CAD/Unit) 5.13% Cap Rate Fort Lauderdale, FL 33316
Investment Highlights
- Rare Opportunity To Acquire A Well-Maintained 11-Unit Multifamily Asset In The Lucrative Tarpon River Neighborhood Of Fort Lauderdale
- Strong Day 1 Cash Flow With The Ability To Further Increase Rents An Additional 6.53% With Minimal To No Capital Expenditures
- Prime Tarpon River Location Within Walking Distance To Restaurants, Retailers, Nightlife, Schools, And More
- Property Sits On 0.26 Acre Lot With Favorable RAC-CC Zoning For Future Redevelopment Potential
- Some Community Amenities Include Designated Parking For Tenants & Guests, Common Laundry, Outdoor Community Space With Grill, And Security System
- Located East Of I-95 Just Off Federal Hwy Providing Tenants Easy Access To Downtown Fort Lauderdale And Beyond
Executive Summary
This well-positioned multifamily offering in Fort Lauderdale presents a compelling opportunity for investors seeking a stable, low-rise / garden-style asset in an established urban submarket. The property consists of an approximately 6,074 square foot building with 11 residential units, originally constructed in 1966. Its classic construction and efficient unit mix align well with sustained renter demand for workforce and lifestyle oriented housing in close proximity to Downtown Fort Lauderdale and surrounding employment centers.
The property is currently 100% occupied, providing immediate in-place cash flow and demonstrating the strength of the local rental market. Its zoning designation of RAC-CC – Regional Activity Center / City Center District enhances long-term upside potential, allowing for continued multifamily use within one of Fort Lauderdale’s most flexible and growth oriented zoning categories.
Located within the Fort Lauderdale area, the property benefits from strong market fundamentals driven by limited supply of comparable low-rise multifamily inventory, ongoing redevelopment nearby, and consistent population and employment growth. The combination of stabilized occupancy, favorable zoning, and an infill location makes this asset particularly attractive to investors seeking durable income with the potential for future value enhancement in one of South Florida’s most dynamic multifamily markets.
The property is currently 100% occupied, providing immediate in-place cash flow and demonstrating the strength of the local rental market. Its zoning designation of RAC-CC – Regional Activity Center / City Center District enhances long-term upside potential, allowing for continued multifamily use within one of Fort Lauderdale’s most flexible and growth oriented zoning categories.
Located within the Fort Lauderdale area, the property benefits from strong market fundamentals driven by limited supply of comparable low-rise multifamily inventory, ongoing redevelopment nearby, and consistent population and employment growth. The combination of stabilized occupancy, favorable zoning, and an infill location makes this asset particularly attractive to investors seeking durable income with the potential for future value enhancement in one of South Florida’s most dynamic multifamily markets.
Property Facts
| Price | $3,774,510 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $343,137 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.26 AC |
| Cap Rate | 5.13% | Building Size | 7,908 SF |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1967 |
| Property Subtype | Apartment | Parking Ratio | 1.26/1,000 SF |
| Zoning | RAC-CC - regional activity center | ||
| Price | $3,774,510 CAD |
| Price Per Unit | $343,137 CAD |
| Sale Type | Investment |
| Cap Rate | 5.13% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 7,908 SF |
| No. Stories | 2 |
| Year Built | 1967 |
| Parking Ratio | 1.26/1,000 SF |
| Zoning | RAC-CC - regional activity center |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 11 | - | - |
1 1
Walk Score®
Very Walkable (89)
Property Taxes
| Parcel Number | 50-42-10-61-0120 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $3,213,104 CAD |
Property Taxes
Parcel Number
50-42-10-61-0120
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$3,213,104 CAD
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Tarpon River Flats | 515 SE 9th St
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