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Build 5 Apartments or Condos on This Piece of Land!



$159,900

SOLD

2681 SW 7th St

Fort Lauderdale, FL

  • Here you have an opportunity to build a 5plex or more! Several options of building!
  • Opportunity is knocking! Build 5 units on this lot or order a severance and build higher! If you build 5 Units. Average Rent is $1.245 Per unit. 5 X $1,245 = $6225. Base on the 10% rules the property is valued at $622,500!! NOT Including equity from the area!
  • Buy lot for $159,900, build for $200,000 = $365,000!! Instant Equity of over $265,000!!!
  • One can argue that property value will be worth over $800,000 based on cap rate. Up to buyer and buyers agent to do your own diligence. Survey and soil test attached.

Documents

 

  • Sale Comps $622.5K - $800K
  • Rental Comps $6,225 - $8,000
  • Property Type Residential
  • Location Fort Lauderdale, FL
  • Size 10000 sq. ft.
  • Bedrooms 0
  • Bathrooms 0
  • TAV 30K
  • Annual Taxes $544
  • Year Built 0

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