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624-632 SW 16th Ave 2 Multifamily Properties Offered at $3,874,080 CAD in Fort Lauderdale, FL
Investment Highlights
- ?Opportunity To Acquire A Recently Renovated 8-Unit Multifamily Asset In The Heart Of Fort Lauderdale
- Extremely Unique And Desirable Unit Mix Consisting Of (7) 4 Bedroom 2 Bathroom Units, (1) 3 Bedroom 1 Bathroom Unit, And (1) Non-Conforming 1 Bedroom
- ?40-Year Recertification Has Been Completed, Mitigating Any Future Capital Expenditure Risks ?Central Air-Conditioning Throughout And Ample Parking
- Asset Consists Of Two Adjacent, Two-Story Buildings (Separately Parceled) - ?Property Features All PVC Plumbing And Updated Electric Panels
- ?Opportunity To Maximize Rents Through Participation In Section 8 And Take Advantage Of Number Of Bedrooms
- Prime Riverside Park Location Just Minutes From Major Retail Corridors, Downtown Fort Lauderdale, Las Olas Blvd, Fort Lauderdale Beach
Executive Summary
624–632 SW 16th Ave presents an attractive opportunity to acquire a fully renovated eight unit multifamily asset in Fort Lauderdale, a 9,710 SF property built in 1969 and zoned RM 15 – Residential Multifamily Low Rise/Medium Density, offering an established multifamily configuration well suited for investors seeking a stabilized, low-rise/garden-style asset with strong in-place performance and future upside.?
The property features a desirable unit mix consisting of seven 4-bedroom/2-bathroom units, one 3-bedroom/1-bathroom unit, and one non-conforming 1-bedroom/1-bathroom unit.? All units have been fully renovated, providing modern interiors, strong tenant appeal, and a true turn-key investment profile.? Additional income optimization may be available through participation in the Section 8 program.?
Significant capital improvements further enhance the property's investment profile.? The property has all-new PVC plumbing throughout and has completed its 40-year recertification, helping reduce near-term capital expenditure concerns.? Each unit is separately metered for both electric and water, minimizing landlord-paid utility expenses and providing greater operational efficiency.? With renovated interiors, durable infrastructure, and multiple avenues for additional income growth, 624–632 SW 16th Ave offers investors an attractive combination of current stability, reduced capital expenditure risk, and future value-add potential
The property features a desirable unit mix consisting of seven 4-bedroom/2-bathroom units, one 3-bedroom/1-bathroom unit, and one non-conforming 1-bedroom/1-bathroom unit.? All units have been fully renovated, providing modern interiors, strong tenant appeal, and a true turn-key investment profile.? Additional income optimization may be available through participation in the Section 8 program.?
Significant capital improvements further enhance the property's investment profile.? The property has all-new PVC plumbing throughout and has completed its 40-year recertification, helping reduce near-term capital expenditure concerns.? Each unit is separately metered for both electric and water, minimizing landlord-paid utility expenses and providing greater operational efficiency.? With renovated interiors, durable infrastructure, and multiple avenues for additional income growth, 624–632 SW 16th Ave offers investors an attractive combination of current stability, reduced capital expenditure risk, and future value-add potential
Property Facts
| Price | $3,874,080 CAD | Number of Properties | 2 |
| Price / SF | $398.98 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 6.69% | Total Building Size | 9,710 SF |
| Sale Type | Investment | Total Land Area | 0.32 AC |
| Status | Active |
| Price | $3,874,080 CAD |
| Price / SF | $398.98 CAD / SF |
| Cap Rate | 6.69% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 9,710 SF |
| Total Land Area | 0.32 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 632 SW 16th Ave, Fort Lauderdale, FL 33312 | Multifamily | 4,855 SF | 1969 | - |
| 624 SW 16th Ave, Fort Lauderdale, FL 33312 | Multifamily | 4,855 SF | 1970 | - |
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624-632 SW 16th Ave
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