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1501 NE 7th Avenue

Fort Lauderdale, FL

Listing Details

  • $1,620,000
  • MLS# F10554588
  • Type Multi Unit - Multiple
  • Status Active
  • 1973
    Year Built

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).... Read more 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.

Key Features

  • Outdoor Shower
  • Balcony
View All Features
1501 NE 7th Avenue
Fort Lauderdale, FL 33304
Subdivision
The Terrace Condos Inc
County
Broward
Schools
Fort Lauderdale
Sunrise
North Side

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Luxury Homes Specialist
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All Property Features

  • Property Type: Multi Unit - Multiple
  • Cooling: Central Air, Ceiling Fan(s)
  • Days on Site: 94
  • Exterior: Block
  • Exterior Features: Outdoor Shower, Balcony
  • Fenced: Yes
  • Fencing: Fenced
  • Flooring: Ceramic Tile
  • Heating: Central, Separate Meters
  • Parcel#: 494235AF0050
  • Pool: In Ground
  • Roof Type: Barrel
  • Sewer: Public Sewer
  • Spa: Yes
  • SQFT Living: 794
  • Stories: 2.0
  • Swimming Pool: Yes
  • Taxes: $4,319
  • Units: 4
  • Utilities: Cable Available
  • Utilities: Cable Available
  • Water: Public
  • Windows: Blinds
  • Year Built: 1973

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