Courtesy of: Joseph Suarez, Trustpoint Realty, LLC., info@trustpointrealty.com
Courtesy of: Joseph Suarez, Trustpoint Realty, LLC., info@trustpointrealty.com
$415,000
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4 bed
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1,170 square feet
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2.00 Bath (2 Full)
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Duplex
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$415,000
429 NW 14th Ave 429 NW 14th Avenue is a 2-unit duplex in Fort Lauderdale's 33311 submarket, offered at $415, 000 ($207, 500/unit). Both units are updated 2BR/1BA and currently occupied, generating combined rent of $3, 300/month ($39, 600 annually). Current operating expenses total $12, 240/year, producing a current NOI of $27, 360 and a 6.59% cap rate. The property offers strong upside potential, as current rents of $1, 600 and $1, 700 sit below market levels of approximately $1, 800/unit. Bringing both units to market rent would increase annual gross income to $43, 200, raising NOI to $30, 960 and the cap rate to 7.46%, with expenses held flat. This combination of stable in-place cash flow and clear rental upside makes 429 NW 14th Avenue an attractive value-add opportunity for investors seeking a manageable two-unit asset in a strong Fort Lauderdale submarket.
Courtesy of: Joseph Suarez, Trustpoint Realty, LLC., info@trustpointrealty.com
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