| 2399 Sistrunk Blvd Fort Lauderdale, FL 33311 |
| Price: $749,985 |
| Type of Property: Income/Multi-Family | Area: 3560 |
| Style of Property: |
| ID#: 6010463717 | Zoning_Information: GP-1 |
| Tax Amount: 2062 |
| Status: Active & Available | Tax Year: 2023 |
Approximate Lot Size: 9909
|
| County: Broward County |
| Folio Number: 504205010960 |
| Listed Date year/month/day: 2024-10-28 |
| Legal:WASHINGTON PARK 19-22 B LOT 17 LESS W1/2 LESS PAR 103 IN CA 70-6028 FOR RD BLK 5 & WASHINGTON PARK 19-22 B LOT 16 LESS RD DESC IN OR 4260/72 |
Rare opportunity on rapidly developing Sistrunk Blvd. Drive Sistrunk: see surge of construction. 1/4 acre corner lot. 15 units can be built by right: Land has been entitled. Site plan for 15 large 1 bed/1 bath units. 7-9 of the units can possibly be 1 bed w/dens or 2 bed. Permits have not been pulled. Use site plan, customize or design your own. Recently sold comps in area:$66.7k-$84.5k per unit for land. Active comps in area:$60k-$99k per unit for land. Subject property under $50k per unit; OVER $250k OFF market value. New 1 bed apts nearby rent:$1.6k-$2.3k. New 2 bed apts nearby rent:$2.4k-$3k. Construction cost $2.2M+/-. All in cost:$3M+/-. Value once built:$4M+/-. $1M+/- instant equity. Potential 10%+/- cap rate. Opportunity zone. Huge tax benefits. Seller will finance or joint venture |
