$925,000
1329 NE 5th Avenue
Fort Lauderdale, FL 33304
MLS# FX-10420928
Status: Closed
1790 sqft
Lush tropical landscaping around the entire property, as well as 6' wooden fence.
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Lush tropical landscaping around the entire property, as well as 6' wooden fence. Main house has two studio apartments on the ground floor and a one bedroom unit on the second floor. Property includes a brand new outdoor metal roofed Gazebo with a customer wood platform and hard wired electric lighting. Aerial drone photos reveal the massive lot and a half the structures sit on. Upstairs unit is perfect for an onsite owner! "Owner's Unit", upstairs one bedroom apt is ultra modern. Dining area is open to the kitchen and living room, just what renters want. Original wood structure from the 1960s has been exposed and reinforced over the years. You are about 3 miles to the beach depending on the route. You can see the Atlantic Ocean at the top of the frame. This drone photo shows the layout of the whole property. Main house is set back to the very back of the property, so the yard feels massive. 1329 NE 5th Avenue, Fort Lauderdale, FL 33304 1329 NE 5th Avenue, Fort Lauderdale, FL 33304 1329 NE 5th Avenue, Fort Lauderdale, FL 33304 1329 NE 5th Avenue, Fort Lauderdale, FL 33304 1329 NE 5th Avenue, Fort Lauderdale, FL 33304 1329 NE 5th Avenue, Fort Lauderdale, FL 33304 1329 NE 5th Avenue, Fort Lauderdale, FL 33304 1329 NE 5th Avenue, Fort Lauderdale, FL 33304 Enjoy the tropical yard from your new metal framed Gazebo replete with privacy curtains and zip up mosquito netting around the whole structure. Custom metal roofed Gazebo with furniture included in the sale. Main living area in the upstairs apt has three tall fixed windows that let light in, but also have one way solar shades that block heat and people from seeing in. Designer Candle Chandelier does not transfer wit the property. It will be replaced with another overhead hanging fixture. Real wood floors were just sanded down, stained and sealed with long lasting clear epoxy. volume ceilings give the sensation of a much larger space. Concrete center kitchen island has two bars stools at the overhang for casual meals. 1329 NE 5th Avenue, Fort Lauderdale, FL 33304 1329 NE 5th Avenue, Fort Lauderdale, FL 33304 1329 NE 5th Avenue, Fort Lauderdale, FL 33304 1329 NE 5th Avenue, Fort Lauderdale, FL 33304 1329 NE 5th Avenue, Fort Lauderdale, FL 33304 1329 NE 5th Avenue, Fort Lauderdale, FL 33304 1329 NE 5th Avenue, Fort Lauderdale, FL 33304 1329 NE 5th Avenue, Fort Lauderdale, FL 33304 Upstairs apartment has a fixed custom concrete counter and sink. Master bedroom in "Owner's Apartment" even has room to make a small home office. Master bedroom has rippled glass doors that match the shower and new LED overhead reading lights. Built in concrete sinks make the apartment even more unique. Half bath in the one bedroom is hidden on both sides with pocket doors to avoid guests having to walk through a bedroom to get to a bathroom. Cottage was just renovated a year ago. The new Ikea kitchen has the sleek minimalist design renters love. Cottage has brand new matching SS appliances. Cottage has a new shower, fixtures and plank tile flooring. Cottage bedroom has a sliding bard door style closet. Parking lot easily holds eight cars, which alleviates one of the biggest challenges for rentals in this area. Ideally situated between Sunrise Blvd and Oakland Park Blvd, this complex is four blocks away from Wilton Manors and a mile from downtown.

Property Description
$83,000 BELOW APPRAISED VALUE! Amazing Rental Fourplex Investment Opportunity on the East Side of Fort Lauderdale. This outstanding property is only four blocks outside Wilton Manors and boasts gorgeous tropical landscaping, a renovated cottage, two new roofs and a lot more! Main house has three rental units. The two apartments downstairs are studios and upstairs is one ultra modern "owner's" apartment. Also on the same full lot and a half is a fully renovated cottage with private yard, lush landscaping and a private fenced yard. The perfect investment for an owner looking to live onsite (or just keep an apt open for yourself when you're in town) and collect the income from the other three units. To help pinpoint the exact value I had an appraisal done a few weeks ago.

Details
Maps
Contract Information
Listing Date: 2024-01-30
Status: Closed
Original List Price: 1008000
List Price: $925,000
Current Price: $930,000
List Price/SqFt: 516.76
Comm/Non-Rep: 1%
Comm/Buyer Agent: 2.5%
Comm/Trans Brk: 2.5%
General Property Description
Type: Quad Plex
Total # of Units: 4
Property Condition: Resale
Year Built: 1958
Number of Stories: 2
SqFt - Living: 1790
Homeowners Assoc: None
Directions: Turn right onto N Andrews Ave. Continue on NE 14th St. Drive to NE 5th Ave. Turn left at the 2nd cross street onto NE 14th St. Turn right onto NE 5th Ave and the property will be on the right.
Subdivision: Progresso 2-18 D
Waterfront: No
Private Pool: No
Spa: No
Separate Elec Meters: No
Separate Wtr Meters: No
Location, Tax & Legal
Area: 3370
Geo Area: FTNE
Country: United States
County: Broward
Parcel ID: 494234027210
Street #: 1329
Street Dir: NE
Street Name: 5th
Street Suffix: Avenue
State/Province: FL
Zip Code: 33304
Short Sale: No
REO: No
HOPA: No Hopa
Legal Desc: PROGRESSO 2-18 D LOT 4 S1/2,5 BLK 86
Zoning: RM-15
Tax Year: 2023
Taxes: 6973
Geo Lat: 26.143393
Geo Lon: -80.139926
Office/Member Info
DXORIGMLNO: F10420928
DXORIGMLSID: FLL
Status Change Info
Under Contract Date: 2024-03-21
Sold Date: 2024-04-25
Sold Price: 930000
Terms of Sale: Conventional
Sold Price/SqFt: 519.55
Unit 1 Info
Bedrooms: 1
Full Bath: 1
Half Bath: 1
Monthly Income: 2200
Unit 2 Info
Full Bath: 1
Monthly Income: 700
Unit 3 Info
Full Bath: 1
Monthly Income: 600
Unit 4 Info
Bedrooms: 1
Full Bath: 1
Monthly Income: 2000
Income & Expenses
Gross Operating Inc: 5500
Property Features
Construction: Block; Concrete; Frame
Lot Description: < 1/4 Acre
Exterior Features: Open Balcony; Room for Pool
Maintenance Fee Incl: Sewer; Trash Removal; Water
Flooring: Concrete; Slate; Wood Floor
Cooling: Ceiling Fan; Central; Electric
Heating: Central; Electric
Roof: Comp Shingle
Terms Considered: Cash; Conventional
Utilities: Cable; Public Sewer; Public Water
Window Treatments: Blinds; Drapes
Taxes: Homestead
Avail Info: Appraisal
Possession: Funding
Supplements
Amazing Rental Fourplex Investment Opportunity on the East Side of Fort Lauderdale. This outstanding property is only four blocks outside Wilton Manors and boasts gorgeous tropical landscaping, a renovated cottage, two new roofs and a lot more! Main house has three rental units. The two apartments downstairs are studios and upstairs is one ultra modern "owner's" apartment. Also on the same full lot and a half is a fully renovated cottage with private yard, lush landscaping and a private fenced yard. The perfect investment for an owner looking to live onsite (or just keep an apt open for yourself when you're in town) and collect the income from the other three units. To help pinpoint the exact value, we just had an appraisal done and it's attached to this listing.

Listing Office: Coral Shores Realty

Last Updated: April - 25 - 2024

1329 NE 5th Avenue, Fort Lauderdale, FL 33304 - MLS# FX-10420928

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Sunday 28th of April 2024 12:02 AM