733-795 NW 27th Ave Fort Lauderdale, FL 33311
Other
MLS #: F10483601
Courtesy Of United Realty Group Inc
Property InformationDescription
SIX FIGURES BELOW MARKET! One of the last corner lots on rapidly developing NW 27 Ave, buildable for 24 residential units. Active comps: $60k-$86k/unit for land; recently sold comps: $42k(disqualified)-$82.5k/unit for land. Subject property under $40k/unit. Construction cost: $3.5M+/-; total cost: Under $4.5M; projected value: $7M+: $2.5M+ INSTANT EQUITY. Nearby rents: 1 beds $1.6k-$2.1k: Potential 10%+/- cap rate. Opportunity zone: huge tax benefits. SELLER WILL FINANCE. Eligible for county grant of up to $300k towards construction. Drive 27th & nearby areas: see surge of construction. Minutes from new Walmart plaza, Starbucks, Downtown, I-95, 441, & Turnpike. Site plan for 24 large 1 bed/1 bath units included customize or design your own. DND tenants. Can also be commercial or mixed-use.
Features
- Architecture Style: Other
- Legal Description: WASHINGTON PARK THIRD ADD 21-43 B LOTS 1-3 LESS E 12 BLK 16,
- MLSID: F10483601
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