Kings Pointe II Apartments.
$6,500,000
1916 Sw 11 Street, Fort Lauderdale Fl 33312 Fort Lauderdale, FL 33312
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About this listing
Kings Pointe II Apartments. 1916 SW 11 STREET, FORT LAUDERDALE FL 33312
Rare opportunity to acquire a very well-maintained 24-unit apartment building located within close proximity to Las Olas, downtown Ft. Lauderdale. Easy access to I-95, Turnpike, Broward Blvd, and US-1, Davie Blvd, Fort Lauderdale Airport.
Attractive unit mix (Four 2 Bedrooms and 2 Bath). (Four - 2 Bedrooms and 1 Bath). (Sixteen- 1 Bedroom and 1 Bath). This is a great value-add opportunity for an investor to bring rents up to market and recapture 16% upside potential in rents. The property is 100% occupied, and the rents are below market.
Capital improvements include multiple units that have been upgraded from new bathrooms, kitchens, stainless steel appliances, tile flooring, some have laminate wood look flooring, freshly painted, updated landscaping & more. The property has undergone significant capital improvements within the last two years.
Amenities include command area laundry room, lush tropical landscaping, reserved parking for tenants, all units have central air conditioning.
Kings Pointe II Apartments consist of 24-units two floor complex located in Riverside Park submarket in Fort Lauderdale South Florida within Broward County. Situated on .60 of an acre.
Kings Pointe II Apartments. Highlights. The building has a metal roof that was completed in 2012, and metal roofs have a lifespan of 40 to 70 years. The building also has a 10-year recertification that was completed on 11/03/2020. Stabilized asset boasting 100% occupancy, generates a stable income, with minimal deferred maintenance. With an average effective rent of $1712, an investor has the opportunity to increase rental rates to be competitive within the market as units turn.Additionally new Investor can also increase income by charging back the tenants for utilities usage.
Property website buildout: https://buildout.com/website/1332302-sale
Property Website (branded) https://orders.virtuals1.com/sites/1916-sw-11th-st-fort-lauderdale-fl-33312-9407783/branded
Mls: https://portal.onehome.com/en-US/share/1657057H34696
Alex Lizama
COLDWELL BANKER COMMERCIAL REALTY
3319 Sheridan Street Hollywood, Florida 33021
Phone number: 305-409-3045
E: alexpassiveincome2@gmail.com
Digital business card: https://realtybizcard.com/alexlizama
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Building Size
16,911 sqft
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Lot Area
26,399 acres
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Year Built
1967
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MLS ID
A11587494
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Parking Spots
25
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Year Last Renovated
2023
DESCRIPTION
- • Max Contiguous Area: 16911.0
