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640 SW 16th Ave
Fort Lauderdale, FL 33312
Riverside Fourplex · Multifamily Property For Sale
·
4 Units
Investment Highlights
- Prime Location: 5 minutes to highways & Downtown Fort Lauderdale; 10 minutes to FLL Airport and the beach
- Attractive Income Stream: Current GOI of $103,320 with a pro forma GOI of $156,000
- High Rental Demand: Excellent long-term tenant appeal and cash flow potential
- Strong Unit Mix: Two 3-bed/2-bath units and two 4-bed/2-bath units with spacious, modern layouts
- Value-Add Upside: One unit owner-occupied, allowing buyer occupancy or lease-up at market rent
Executive Summary
Rare opportunity to acquire a beautifully renovated 4,855 SF fourplex on a 7,000 SF lot with strong rental demand and excellent income potential, featuring two 3-bed/2-bath units and two 4-bed/2-bath units with spacious layouts and modern finishes, making it a true turn-key investment. The property currently generates a GOI of $103,320 with a pro forma GOI of $156,000, offering clear upside; one unit is owner-occupied, allowing flexibility for buyer occupancy or lease-up at market rent to boost cash flow. Ideally located approximately 5 minutes from major highways and Downtown Fort Lauderdale, 10 minutes from Fort Lauderdale–Hollywood International Airport, and 10 minutes from the beach, ensuring excellent accessibility and long-term tenant appeal.
Property Facts
| Price Per Unit | $495,041 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.46% | Building Size | 6,592 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | ||
| Zoning | RM-15 | ||
| Price Per Unit | $495,041 CAD |
| Sale Type | Investment |
| Cap Rate | 5.46% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 6,592 SF |
| No. Stories | 2 |
| Year Built | 1965 |
| Zoning | RM-15 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 2 | $3,687 CAD | - |
| 4+2 | 2 | $4,035 CAD | - |
Property Taxes
| Parcel Number | 50-42-09-03-0061 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,047,536 CAD |
Property Taxes
Parcel Number
50-42-09-03-0061
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,047,536 CAD
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