Home » Fort Lauderdale » 1118 NW 31st Ave, Fort Lauderdale, FL 33311 | A11566588

Multi Family For Sale 1118 NW 31st Ave, Fort Lauderdale, FL 33311

$1,500,000
Price has decreased by $250,000

Property Highlights

Listing ID A11566588 Status of this Listing: Active For Sale Property Type Commercial Sale Multi Family Building Area 5,827 Sqft/541.35 m2 approx. Lot area 16,598 Sqft/1542.00 m2 approx. Year Built 1956 Time of this property on Rebonus 280 Day(s)

1118 NW 31st Ave, Fort Lauderdale, FL 33311

Property Description: 14 APARTMENTS +BONUS (4 MAYBE POSSIBLE ADDITIONAL APARTMENTS) Investment Opportunity, multifamily, Airbnb, Motel. 16 units (14 studios, 2 one bedrooms) + bonus. (4 shell condition studios with plumbing). Renovated, impact windows, new roof, etc. Minimum potential income as Multifamily: 14 studios $1,300 month = $218,400 YEAR / 2 one bedrooms $1,500 month = $36,000 YEAR. Minus expenses: $35,000 YEAR. Total NOI: $219,400 YEAR. Equal 11.2% Cap. Rate.

Useful Info

Previous Asking Price:$1,750,000
Original List Price:$1,750,000

Land Lot (Parcel) Details

Lot Size Acres:0.38
Lot Size Unit:Square Feet

Construction

Year Built Details:
  • Resale
Construction Materials:
  • Block
  • Brick
Structure Type:
  • Multi Family

Property Features

Waterfront:No
Waterfront Features:
  • Canal Access
Security:
  • Fenced

Taxes and Expenses

Tax Annual Amount:$12,467

Property Tax Notice for Buyers: Do not rely on the current property taxes paid by the seller, as your tax liabilities may increase following the sale. Transferring ownership or making improvements to the property often triggers tax reassessments, which could raise the amount you owe. If you have questions regarding property valuation, please contact the County Property Appraiser’s Office.

Terms

Occupant Type:
  • Call Agent
Lease Considered:No

Community

Senior Community:No

Parking

Parking Total Spaces:20
Covered Spaces:0

More Details

Other Information:
Flood ZoneX
FEMA Flood Zone DesignationsX
Subdivision Number7

Zoning and Legal

Tax Legal Description:ROOSEVELT GARDENS FIRST ADD 27-25 B LOT 30,31,LESS PT DESC AS, BEG AT NW COR LOT 30,ELY 20.4, SLY 20,SLY 60.03,WLY 20.25, NLY 80 TO POB & LE
Real Estate Folio Number (Parcel Number):494232070290
Zoning Description:B-3
Public Survey Range:49
Public Survey Section:32

Listing History

Update/EventDate/Days
Published Date:April 12, 2024 10:01 am
On Market Date:April 9, 2024
Price Change Date Time:June 3, 2024 10:36 pm
Last Important Update Description:Price Change
Date and Time of Last Important Update:June 3, 2024 10:36 pm
Status Last Changed:April 12, 2024 10:01 am
Photos Last Modified:June 4, 2024 2:38 am
Last Modified:October 19, 2024 9:55 am
Days on the Market Reference Date:October 19, 2024
Days on the Market (updated on Last Modified*):193
Cumulative Days on the Market (updated on Last Modified**):739

Additional Information

Number of Photos:21
Location:,,
Included:,,
Area:3070
Courtesy of:RE/MAX Advance Realty
Universal Property Id:US-12011-N-494232070290-R-N

Location

Show Property Address:Yes
Street Name:31st Ave
Street Number:1118
Street Direction Prefix:NW
Street Address:1118 NW 31st Ave
City : Fort Lauderdale
State : Florida
Zip Code : 33311
County : Broward
Full Address:1118 NW 31st Ave, Fort Lauderdale, FL 33311
Latitude:N26° 8' 18.9''
Longitude:W81° 48' 49.1''

Neighborhood

Postal City:Fort Lauderdale

Property Map