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1501 7th Avenue
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PRICED AT ONLY: $1,647,000

Address: 1501 7th Avenue, Fort Lauderdale, FL 33304

Description

5 PLEX fully rented (MLS classified as 4 plex) in Fort Lauderdale. Unit mix: four 1BD/1BA and one 2BD/2BA. Gross income $121,000 annually with approx. $89K NOI (5.1% cap at current pricing). Stable income with rental upside. Fully renovated with new kitchens, baths, A/C systems, flooring, fencing, railings, and new high impact windows no major deferred maintenance. Each unit includes a washer/dryer, 2 parking spaces, and separate parcel numbers. Features a pool and a 2BD/2BA unit with a private jacuzzi. Strong 1031 exchange opportunity. roperty is legally structured as five separate condo parcels under one ownership (MLS classified as 4 plex). All units are fully rented. Unit mix includes four 1BD/1BA units and one 2BD/2BA unit. Current gross income is $121,800 annually with approximately $89K NOI. Extensive renovations completed, including kitchens, bathrooms, A/C systems, flooring, fencing, railings, and high impact windows. No major deferred maintenance.Each unit includes washer/dryer and two dedicated parking spaces. Property features a private pool, and the 2BD/2BA unit includes its own jacuzzi. Strong tenant demand in Middle River Terrace location. Ideal for 1031 exchange buyer or investor seeking stabilized cash flow with long term flexibility due to separate parcel structure.

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  • MLS#: F10554588 ( Residential Income )
  • Street Address: 1501 7th Avenue
  • Viewed: 24
  • Price: $1,647,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1973
  • Bldg sqft: 0
  • Days On Market: 8

Description

5 PLEX fully rented (MLS classified as 4 plex) in Fort Lauderdale. Unit mix: four 1BD/1BA and one 2BD/2BA. Gross income $121,000 annually with approx. $89K NOI (5.1% cap at current pricing). Stable income with rental upside. Fully renovated with new kitchens, baths, A/C systems, flooring, fencing, railings, and new high impact windows no major deferred maintenance. Each unit includes a washer/dryer, 2 parking spaces, and separate parcel numbers. Features a pool and a 2BD/2BA unit with a private jacuzzi. Strong 1031 exchange opportunity. roperty is legally structured as five separate condo parcels under one ownership (MLS classified as 4 plex). All units are fully rented. Unit mix includes four 1BD/1BA units and one 2BD/2BA unit. Current gross income is $121,800 annually with approximately $89K NOI. Extensive renovations completed, including kitchens, bathrooms, A/C systems, flooring, fencing, railings, and high impact windows. No major deferred maintenance.Each unit includes washer/dryer and two dedicated parking spaces. Property features a private pool, and the 2BD/2BA unit includes its own jacuzzi. Strong tenant demand in Middle River Terrace location. Ideal for 1031 exchange buyer or investor seeking stabilized cash flow with long term flexibility due to separate parcel structure.
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Features
Building and Construction
  • Exterior Features: Balcony, Outdoor Shower
  • Fencing: Fenced
  • Flooring: Ceramic Tile
  • Roof: Barrel
School Information
  • High School: Fort Lauderdale
  • Middle School: Sunrise
  • School Elementary: North Side
Eco-Communities
  • Pool Features: In Ground
  • Water Source: Public
Utilities
  • Cooling: Ceiling Fan(s), Central Air
  • Heating: Separate Meters, Central
  • Sewer: Public Sewer
  • Utilities: Cable Available
Finance and Tax Information
  • Tax Year: 2024
Other Features
  • Legal Description: THE TERRACE CONDOS INC UNIT 5 PER CDO BK/PG: 39000/1108
  • Parcel Number: 494235AF0050
  • Views: 24
  • Zoning Code: RS-8
Nearby Subdivisions
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