Bought with Coldwell Banker Commercial
For more information regarding the value of a property, please contact us for a free consultation.
1721 NE 8 ST Fort Lauderdale, FL 33304
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Key Details
Sold Price $1,750,000
Property Type Commercial
Sub Type MultiFamily (5+ Units)
Listing Status Sold
Purchase Type For Sale
Square Footage 4,745 sqft
Price per Sqft $368
MLS Listing ID RX-11041532
Sold Date 02/03/25
Construction Status Resale
Year Built 1966
Annual Tax Amount $34,050
Tax Year 2023
Lot Size 0.330 Acres
Property Description
SEE OFFERING MEMORANDUM FOR MORE DETAIL*Pro-Forma Cap rate is with no required windstorm insurance for a seller financed deal.Rarely do you find an investment where the land value is nearly identical to the income value. While this property can provide a nice return, redevelopment may be the highest and best use in the long run. This provides steady cash flow while you plan your project. The streets surrounding these two adjacent properties are filled with luxury townhomes. Recently, the building across the street was demolished to make way for a luxury project.There are currently two separate buildings that make up the 7 units for a total of 4,745 SF of structure. The two lots of land total 14,250 SF.
Location
State FL
County Broward
Area 3280
Zoning RMM-25
Interior
Heating Central
Cooling Central, Electric, Zoned
Flooring Ceramic Tile
Fireplaces Type Smoke Detector
Exterior
Utilities Available Cable, Electric, Gas Natural, Municipal Water
Roof Type Comp Rolled,Comp Shingle,Wood Truss/Raft
Building
Story 100.00
Construction Status Resale
Others
Acceptable Financing Cash, Conventional, Owner
Listing Terms Cash, Conventional, Owner
Financing Cash,Conventional,Owner
Read Less