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Key Details
Property Type Multi-Family, Commercial
Sub Type Income/Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Washington Park Third Add
MLS Listing ID F10483601
HOA Y/N No
Total Fin. Sqft 14388
Annual Tax Amount $12,073
Tax Year 2023
Lot Size 0.330 Acres
Property Sub-Type Income/Multi-Family
Property Description
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.
Location
State FL
County Broward County
Area Ft Ldale Nw(3390-3400;3460;3540-3560;3720;3810)
Zoning B-3
Exterior
Utilities Available Cable Tv, Electric, Other Utilities Available, Phone Line, Sewer, Trash Removal, Water
Water Access N
Private Pool No
Building
Lot Description Less Than 1 Acre
Sewer Public Sanitation
Water Municipal Water
Others
Pets Allowed No
Listed by United Realty Group Inc.
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