1037 Northeast 9th Avenue

Fort Lauderdale, FL 33304

$1,250,000
Last Sold Price
Beds
2,848 Sq. Ft.
$439 / Sq. Ft.
2,848
Sq. Ft.
$439
per Sq. Ft.

Description

Great opportunity to get 10+% CAP ~20% Cash on Cash year one on a 100% remodeled property. A newly remodeled five plex, with 5 1/1 Units with 2,848 SF of rentable space, in a 6,752 SF lot located by Holiday Park, one of the city's most popular public parks, with over 90 acres of land, a couple of blocks from the Bell Sunrise Gallery, the Quantum apartments, and the Beyond Searstown Development, near Galleria Mall, Downtown Fort Lauderdale, and the beaches, ideal and zoned for Airbnb, and right next...Great opportunity to get 10+% CAP ~20% Cash on Cash year one on a 100% remodeled property. A newly remodeled five plex, with 5 1/1 Units with 2,848 SF of rentable space, in a 6,752 SF lot located by Holiday Park, one of the city's most popular public parks, with over 90 acres of land, a couple of blocks from the Bell Sunrise Gallery, the Quantum apartments, and the Beyond Searstown Development, near Galleria Mall, Downtown Fort Lauderdale, and the beaches, ideal and zoned for Airbnb, and right next to the War Memorial Auditorium. With an expected short-term rental yearly income of $230K+ (see AirDNA supported data here) and an NOI of $148K+, it would provide a ~10%+ CoC rate, a levered ~20% CAP rate, and an expected 33% IRR over seven years. No A/c in the property
  1. Listed by Rosa Poler • Optimar International Realty

Property Details for 1037 Northeast 9th Avenue

Subdivision
PROGRESSO
Style
Fourplex
Waterfront
No
Area
3990
Geographic Area
Ft Ldale NE (3240-3270;3350-3380;3440-3450;3700)
Auction
No
Num Stories
1
Sq Ft Total
2848

Location

Listing Courtesy of Optimar International Realty

Sold By Optimar International Realty

Add your commute
LISTING UPDATED: 03/06/2023 10:51 AM

Property Details for 1037 Northeast 9th Avenue

StatusClosed
MLS #A11298761
Days on Market52
Taxes$10,384 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family Income / Fourplex
Year Built1959
Lot Size-
CountyBroward County

Location

Listing Courtesy of Optimar International Realty

Sold By Optimar International Realty

Add your commute

Building Information for 1037 Northeast 9th Avenue

Stories-Residences-Year Built1959Building Size-Lot Size-

Payment Calculator

$7,687 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,822

Property Taxes

$865

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1037 Northeast 9th Avenue

Location Information
Location Information
  • Parcel Number Free Text: 494234047420
  • Parcel Number MLX: 7420
  • MLS Area: 3990
  • Municipal Code: 10
  • Township Range: 49
  • Section: 34
  • Subdivision Number: 4
  • Subdivision Complex Bldg: PROGRESSO
  • Unit Count: 4
  • Zoning Information: Multi
General Information
Parking
  • Num Parking Spaces: 5
General Information
  • Property Type Information: Other
  • Lot Description: Less Than 1/4 Acre Lot
  • Spa: No
  • Pool: No
  • Construction: Concrete Block Construction, Other Construction
  • Construction Type: Concrete Block Construction, Other Construction
  • Roof Description: Other Roof
  • Flooring: Tile Floors
  • Floor Description: Tile Floors
  • Directions: Please use Wase or GPS
Additional Property Information
Utilities
  • Heating Description: No Heat
  • Cooling Description: No Cooling
  • Sewer Description: Municipal Sewer
  • Separate Meter: No
  • Cable Available: No
Additional Property Information
  • Guest Accommodations: No
  • Rent Includes: Sewer, Trash Removal
Financial Information
Financial Information
  • Total Mortgage: $555,000
  • Type of Association: None
  • Flood Zone: X
  • Tax Year: 2021
  • Tax Information: Tax Reflects No Exemptions
  • Information Available: None
  • Special Assessment: No

Property History for 1037 Northeast 9th Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 1037 Northeast 9th Avenue

This home is within Broward.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Bennett Elementary School
PublicPK to 5

Sunrise Middle School
Public6 to 8

Fort Lauderdale High School
Public9 to 12

Sunrise High School
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of Optimar International Realty

Based on information from one of the following Multiple Listing Services: Beaches Multiple Listing Service, Inc., Martin County REALTORS® of the Treasure Coast, Inc., Miami Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Beaches Multiple Listing Service, Inc., Martin County REALTORS® of the Treasure Coast, Inc., Miami Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.