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608 SW 16th Ave
Fort Lauderdale, FL 33312
608 SW 16th Ave, Fort Lauderdale, FL 33312 · Multifamily Property For Sale
·
4 Units
INVESTMENT HIGHLIGHTS
- High-Yield Section 8 Asset: Voucher levels up to $3,047 per unit, delivering approximately $146K gross income and an estimated $115K net with stable,
- Prime Fort Lauderdale Location: Minutes from Downtown, Las Olas, I-95, I-595, and FLL Airport, positioned in a high-demand workforce rental corridor w
- Attractive Investment Metrics: Offered at a 7% cap rate with upside potential through rent optimization and operational efficiency.
- Rare Unit Mix: Four oversized 3BD/2BA units (~1,200 SF each)—a highly desirable layout that commands premium rents and supports long-term tenant reten
- Turnkey with Recent Improvements: Impact windows, fresh paint, on-site laundry closets, and 6 parking spaces, minimizing near-term capital expenses an
- Flexible Seller Financing: Up to 40% seller financing available, reducing equity requirements and significantly enhancing investor returns.
EXECUTIVE SUMMARY
High-Yield Section 8 Asset | Prime Fort Lauderdale Location | Seller Financing Available
Motivated Seller offering a rare opportunity to acquire a high-performing four-unit multifamily asset in a core Fort Lauderdale rental market. The property is ideally positioned for Section 8 demand, with voucher levels in this ZIP code reaching $3,047 per unit, producing approximately $146,000 in gross annual income and an estimated $115,000 net with government-backed rent stability.
Located just minutes from Downtown Fort Lauderdale, I-95, I-595, Las Olas, and Fort Lauderdale–Hollywood International Airport, this property sits in a high-demand workforce rental corridor with strong tenant demand and low vacancy. The surrounding area offers easy access to major employment hubs, public transportation, shopping, dining, and schools, making it extremely attractive for long-term tenants.
The building consists of four oversized units, each 3 bedrooms / 2 bathrooms with approximately 1,200 SF per unit—a rare unit mix that commands premium Section 8 rents. Additional features include two on-site laundry closets, 6 dedicated parking spaces, fresh paint, and impact windows, minimizing capital expenditures and maximizing cash flow.
Offered at a 7% cap rate with clear upside and up to 40% seller financing, this is a turnkey, high-income asset in one of South Florida’s most resilient rental markets.
Strong location. Strong income. Flexible financing. Opportunities like this are limited.
Motivated Seller offering a rare opportunity to acquire a high-performing four-unit multifamily asset in a core Fort Lauderdale rental market. The property is ideally positioned for Section 8 demand, with voucher levels in this ZIP code reaching $3,047 per unit, producing approximately $146,000 in gross annual income and an estimated $115,000 net with government-backed rent stability.
Located just minutes from Downtown Fort Lauderdale, I-95, I-595, Las Olas, and Fort Lauderdale–Hollywood International Airport, this property sits in a high-demand workforce rental corridor with strong tenant demand and low vacancy. The surrounding area offers easy access to major employment hubs, public transportation, shopping, dining, and schools, making it extremely attractive for long-term tenants.
The building consists of four oversized units, each 3 bedrooms / 2 bathrooms with approximately 1,200 SF per unit—a rare unit mix that commands premium Section 8 rents. Additional features include two on-site laundry closets, 6 dedicated parking spaces, fresh paint, and impact windows, minimizing capital expenditures and maximizing cash flow.
Offered at a 7% cap rate with clear upside and up to 40% seller financing, this is a turnkey, high-income asset in one of South Florida’s most resilient rental markets.
Strong location. Strong income. Flexible financing. Opportunities like this are limited.
PROPERTY FACTS
| Price Per Unit | $547,309 CAD | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 4,855 SF |
| Cap Rate | 7% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1970/2016 |
| Property Subtype | Apartment | Parking Ratio | 1.24/1,000 SF |
| Building Class | C | ||
| Zoning | RM-15 - multi family 2-9 units | ||
| Price Per Unit | $547,309 CAD |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,855 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1970/2016 |
| Parking Ratio | 1.24/1,000 SF |
| Zoning | RM-15 - multi family 2-9 units |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Storage Space
- Kitchen
- Dining Room
- Garden
- Linen Closet
SITE AMENITIES
- Fenced Lot
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 4 | $3,614 CAD | 1,200 |
PROPERTY TAXES
| Parcel Number | 50-42-09-03-0018 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,415,414 CAD |
PROPERTY TAXES
Parcel Number
50-42-09-03-0018
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,415,414 CAD
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