733 NW 27th Avenue #733-795
Fort Lauderdale, FL 33311
0.33 acres | #FX-10483601
Description
One of the last corner lots on rapidly developing NW 27 Ave, buildable for 24 residential units. Drive 27th & nearby areas: see surge of construction. Minutes from new Walmart plaza, Starbucks, Downtown, I-95, 441, & Turnpike. Site plan for 24 large 1 bed/1 bath units includedcustomize or design your own. Active comps: $60k-$86k/unit for land; recently sold comps: $42k(disqualified)-$82.5k/unit for land. Subject property under $40k/unit: hundreds of thousands below market value. Nearby rents: 1 beds $1.6k-$2.1k. Construction cost: $3.5M+/-; total cost: Under $4.5M; projected value: $7M+: $2.5M+ instant equity. Potential 10%+/- cap rate. Opportunity zone: huge tax benefits. Seller will finance. Eligible for county grant of up to $300k towards construction. DND tenants. Call for details.
Property Details
- SubdivisionWashington Park Third Add
- Property SubtypeCommercial Land
- MLS #FX-10483601
- MLS #FX-10483601
- Property TypePurchase
- Original List Price$946,250
- CountyBroward
- Taxes Annual$12,073
- Cost958750
- Lot Size (sqft)14388
- Acres0.33
- ZoningB-3
Location
Legal
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Last Updated: . Source: BMLS
Listing Courtesy
Listing Agent: Michael J Sheer (#3355952)
Listing Office: United Realty Group Inc. (#URGI07)
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