739 NW 2nd Ave
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739 NW 2nd Ave
2 Unit Apartment Building $1,502,518 CAD ($751,259 CAD/Unit) 5.50% Cap Rate Fort Lauderdale, FL 33311
Investment Highlights
- Fast Developing Area
- Separate Folios- Separate Meter
- 20 approved/under construction projects in the immediate area
- 2017 Built Twin Home
- 3bed/2bath , 1709 sqft, 1 car garage each
- Near FatVillage, ThriveArts, Brightline
Executive Summary
Investors Special ! See attachment for offering memorandum..Unique Opportunity to own BOTH attached twin homes (2units) in fast developing Progresso Village. The rental market is thriving in the immediate area. 2017 Built that consist identical floor plans. 3/2 with 1,708 Sqft each home, updated kitchen/bath, 1 car garage each, impact windows. separate folios and meters. Asking price for both $1,060,000. $540,000 per dwelling. Avg market rent is $3,300-$3,500 per home. $7000 total/mo. 5.2 cap rate, New constructions abounds in the area, fast developing..currently 20 projects under construction includes FAT village, $300 million mixed-use development 2027. Walking distance to Thrive Arts, Fat Village, Flagler Village, and Brightline. This area is booming.. contact Dee Emmanuel 954-648-3423
Financial Summary (Pro forma - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$119,067
|
$34.83
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$119,067
|
$34.83
|
| Taxes |
$25,543
|
$7.47
|
| Operating Expenses |
$9,469
|
$2.77
|
| Total Expenses |
$35,012
|
$10.24
|
| Net Operating Income |
$84,056
|
$24.58
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $119,067 |
| Annual Per SF | $34.83 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $119,067 |
| Annual Per SF | $34.83 |
| Taxes (CAD) | |
|---|---|
| Annual | $25,543 |
| Annual Per SF | $7.47 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $9,469 |
| Annual Per SF | $2.77 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $35,012 |
| Annual Per SF | $10.24 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $84,056 |
| Annual Per SF | $24.58 |
Property Facts
| Price | $1,502,518 CAD | Building Class | B |
| Price Per Unit | $751,259 CAD | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 3,419 SF |
| Cap Rate | 5.50% | No. Stories | 1 |
| No. Units | 2 | Year Built/Renovated | 2017/2018 |
| Property Type | Multifamily | Parking Ratio | 1.17/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Single Family Home |
| Price | $1,502,518 CAD |
| Price Per Unit | $751,259 CAD |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single Family Home |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 3,419 SF |
| No. Stories | 1 |
| Year Built/Renovated | 2017/2018 |
| Parking Ratio | 1.17/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Ceiling Fans
- Kitchen
- Vaulted Ceiling
- Attic
- Family Room
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 2 | $4,819 CAD | 1,709 - 3,418 |
Walk Score ®
Very Walkable (87)
Bike Score ®
Very Bikeable (70)
zoning
| Zoning Code | RMM-25 (Residential-Multi-Family- RMM-25) |
| RMM-25 (Residential-Multi-Family- RMM-25) |
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739 NW 2nd Ave
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