$600,000
$749,985
20.0%For more information regarding the value of a property, please contact us for a free consultation.
2399 Sistrunk Blvd Fort Lauderdale, FL 33311
9,909 Sqft Lot
Key Details
Sold Price $600,000
Property Type Multi-Family
Sub Type Income/Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Washington Park 19-22 B
MLS Listing ID F10463717
Sold Date 01/15/25
HOA Y/N No
Total Fin. Sqft 9909
Annual Tax Amount $2,062
Tax Year 2023
Lot Size 9,909 Sqft
Property 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
Location
State FL
County Broward County
Area Ft Ldale Nw(3390-3400;3460;3540-3560;3720;3810)
Zoning GP-1
Exterior
Utilities Available Cable Tv, Electric, Other Utilities Available, Phone Line, Sewer, Trash Removal, Water
Water Access N
Private Pool No
Building
Lot Description Less Than 1 Acre
Sewer Public Sanitation
Water Municipal Water
Others
Pets Allowed No
Acceptable Financing Cash, Cryptocurrency, Joint Venture, Owner Financing
Listing Terms Cash, Cryptocurrency, Joint Venture, Owner Financing
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