733-795 NW 27th Ave Fort Lauderdale, FL 33311
Other
MLS #: F10488707
Courtesy Of United Realty Group Inc
Property InformationDescription
One of the last corner lots on rapidly developing NW 27 Ave, buildable for 24 residential units. 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. Active comps: $60k-$86k/unit for land; recently sold comps: $42k(disqualified)-$82.5k/unit for land. Subject property under $40k/unit: six figures below market. Nearby rents: 1 beds $1.6k-$2.1k. Construction cost: $3.5M+/-; total cost: Under $4.5M; projected value: $7M+: $2.5M+ instant equity. Potential 10%+/- cap rate. Opportunity zone: huge tax benefits. Seller will finance. Eligible for county grant of up to $300k towards construction. DND tenants. Can also be commercial or mixed-use.
Features
- Age: Over 50 Years Old
- Architecture Style: Other
- Legal Description: WASHINGTON PARK THIRD ADD 21-43 B LOT 3 LESS E 12 BLK 16
- MLSID: F10488707
- Parking Spaces: 27
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