2399 Sistrunk Boulevard
Fort Lauderdale, FL 33311
#FX-10468607
Description
Rare opportunity on rapidly developing Sistrunk Blvd. Drive Sistrunk: see surge of construction. 1/4 acre corner lot. 15 units can be built by right: Land has been entitled. Site plan for 15 large 1 bed/1 bath units. 7-9 of the units can possibly be 1 bed w/dens or 2 bed. Permits have not been pulled. Use site plan, customize or design your own. Recently sold comps in area:$66.7k-$84.5k per unit for land. Active comps in area:$60k-$99k per unit for land. Subject property under $50k per unit; OVER $250k OFF market value. New 1 bed apts nearby rent:$1.6k-$2.3k. New 2 bed apts nearby rent:$2.4k-$3k. Construction cost $2.2M+/-. All in cost:$3M+/-. Value once built:$4M+/-. $1M+/- instant equity. Potential 10%+/- cap rate. Opportunity zone. Huge tax benefits. Seller will finance or joint venture
Construction Details
- Property TypePurchase
Community and Neighborhood Details
- SubdivisionWashington Park 19-22 B
Location
- CountyBroward
- ZoningGP-1
Financial Details
- Original List Price$749,985
- Taxes Annual$2,062
Other
- MLS #FX-10468607
Location
Legal
© BEACHES MLS. All rights reserved. Information Deemed Reliable, but Not Guaranteed. Listing information is from various brokers who participate in IDX and not all listings may be visible on the site. The property information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Last Updated: . Source: BMLS
Listing Courtesy
Listing Agent: Michael J Sheer (#3355952)
Listing Office: United Realty Group Inc. (#URGI07)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
