1634 NE 4th Pl,Fort Lauderdale, FL 33301
Fort Lauderdale, FL 33301
Description
Exceptional cash-flowing fourplex featuring a rare 3-bedroom owner's suite, offering a massive value-add opportunity for investors and owner-occupants. The property currently generates a secured $4,594 per month from just two units: Unit 2 has a stable Section 8 tenant at $2,394/month, and Unit 1 features a newly signed lease at $2,200/month commencing October 1st. The immediate upside lies in the remaining two vacant units. Unit 3 is a 1-bedroom layout with a proven track record as a successful short-term rental, historically grossing up to $3,000/month during peak summer months (conservatively projected at $2,200/month annually). Unit 4 is a highly desirable 3-bedroom suite projected at $4,000/month, perfect for an owner-occupant looking to live on-site while the other three units cover the operating costs. At full market stabilization, the projected gross annual income exceeds $129,000. The building features solid physical updates throughout, making the units highly leasable and easy to maintain. Please note: The property is being sold strictly as-is. The buyer will be required to assume an open municipal permit file and sign a hold-harmless agreement at closing. The recent price reduction directly reflects this requirement, leaving ample room for a cash buyer to clear the permits and stabilize the asset for a premium yield.
Details
| MLS # | A12048001 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1966 |
| Days On Site | 60 |
| Listing Provided By | Compass Florida, LLC | Nicole Murray Chen |
Features
| SQ Feet | 2,779 |
|---|---|
| Story(s) | 1 |
| Zoning | RC-15 |
Exterior
| Lot Features | Interior Lot, Less Than Quarter Acre |
|---|
Taxes
| Tax Annual Amount | 23972 |
|---|
Location
| Community Features | Laundry Facilities |
|---|
Area Information
| State | FL |
|---|---|
| County | Broward |
| City | Fort Lauderdale |
| Zip Code | 33301 |
| Area | 3270 |
| Subarea | Ft Ldale NE (3240 3270;3350 3380;3440 3450;3700) |
| Community Name | MIDDLE RIVER PARK |
| Listing VS Median (in MIDDLE RIVER PARK) | |
Price: $1,299,000 low | high Med: $1,244,500 sqft: 2,779 low | high Med: 3,135 $ / sqft: $467 low | high Med: $404 On site: 60 low | high Med: 35.5 | |
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Learn More About This Property
| State | FL |
|---|---|
| County | Broward |
| City | Fort Lauderdale |
| Zip Code | 33301 |
| Area | 3270 |
| Subarea | Ft Ldale NE (3240 3270;3350 3380;3440 3450;3700) |
| Community Name | MIDDLE RIVER PARK |
| Listing VS Median (in MIDDLE RIVER PARK) | |
Price: $1,299,000 low | high Med: $1,244,500 sqft: 2,779 low | high Med: 3,135 $ / sqft: $467 low | high Med: $404 On site: 60 low | high Med: 35.5 | |
