2399 Sistrunk Blvd, Fort Lauderdale FL 33311

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$749,985

2399 Sistrunk Blvd, Fort Lauderdale, FL 33311

bedrooms

bathrooms

square feet

Acreage

0.23

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year built

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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
Subdivision	Washington Park 19-22 B
County	Broward County
Elementary School	-
Middle School	-
High School	-

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MLS number: F10463717

Listing agent: Michael Sheer #3355952

Listing broker: United Realty Group Inc (954) 450-2000

Last update: Thursday, November 14 2024 at 5:25 p.m. EST

Kotohomes National