pool luxury home for sale at 1017 NE 14th Avenue, Fort Lauderdale, FL — Progresso1 / 74
luxury

$1,490,000

1017 NE 14th Avenue, Fort Lauderdale, FL 33304

Fort Lauderdale, FL, 33304

— bd · — ba · — sqft

Listed by Grand Realty of America, Corp.

Estimated monthly payment

$10,511/mo

Income & expenses

5 units
Building totalsMonthlyAnnual
Gross rental income$1,800$21,600
Operating expenses (est.)$2,291$27,490
Net operating income (est.)$-491$-5,890

Expenses include estimated taxes, insurance, HOA and the 10% vacancy, repairs and management allowance. Loan payments are separate.

Yearly rent

$21,600

Property taxes after sale

$17,880

Florida average estimate

Insurance estimate

$7,450

South Florida average insurance estimate

$1,490,000
$1,192,000 (20% below)Asking $1,490,000

Cap rate — optimistic

-0.25%

NOI $-3,730/yr

Rent minus taxes, insurance and HOA.

Cap rate — conservative

-0.40%

NOI $-5,890/yr

Also minus 10% for vacancy, repairs and management.

Cash flow with a loan

20% · $298,000
0%50%100%
Loan payment $92,775/yr
Cash flow $-98,665/yr
Cap rate -0.40%
Cash-on-cash -33.11%
Cash flow ÷ price -6.62%

Conservative net operating income minus a 30-year loan payment at the price tested above.

Rent figures come from the listing. Taxes are estimated at the tested price, since Florida taxes reset on sale. Planning estimate only, not a quote. Actual premiums depend on roof age, wind mitigation, flood zone, claims history and the carrier. Verify all income and expenses with the seller's rent roll before writing an offer. Estimate only, not guaranteed. Verify before you buy or sell.

Know your costs before you buy

Work through three numbers: your estimated monthly payment, the cash needed at closing, and insurance & flood.

Estimated monthly payment $10,511/mo · principal, interest, taxes, insurance and HOA. Verify before you buy.

About this home

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EXCEPTIONAL TURNKEY MULTIFAMILY INVESTMENT OPPORTUNITY IN THE HEART OF FORT LAUDERDALE! This fully renovated and fully furnished 5-unit property offers immediate income from day one and is currently generating an approximate 7% annual return based on current operations. The unit mix includes three 1-bedroom/1-bath units, one 2-bedroom/1-bath unit, and one studio. Four units are currently operated as short-term rentals, while one 1-bedroom unit is leased long-term at $1,800/month, providing a diversified rental strategy. All five units were renovated within the past three years and are offered fully furnished and equipped, making this a true turnkey investment. The property also features 5 parking spaces, a common laundry area, outdoor patio and BBQ area, tropical landscaping, smart locks, and CCTV surveillance. Ideally located approximately 3.5 miles from Fort Lauderdale Beach and just 2.3 miles from I-95, with convenient access to Downtown Fort Lauderdale, Las Olas, shopping, dining, entertainment, and major transportation routes. Additional upside potential exists through optimized short-term rental management and further enhancement of the outdoor amenities, including the potential addition of a swimming pool. A rare opportunity to acquire a renovated, furnished, income-producing multifamily property in one of South Florida's most desirable and active rental markets. Please contact the listing agent to schedule a private showing. Minimum 24-hour advance notice required.

Your costs (est.)

≈ $10,511/mo

1017 NE 14th Avenue, Fort Lauderdale, FL 33304 · Fort Lauderdale

Location

1017 NE 14th Avenue, Fort Lauderdale, FL 33304

Simon Gedz, South Florida luxury real estate specialist

Simon Gedz

Realtor® since 1995

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