Description
429 NW 14th Avenue is a 2-unit duplex in Fort Lauderdale's 33311 submarket, offered at $415,000 ($207,500/unit). Both units are updated 2BR/1BA and currently occupied, generating combined rent of $3,300/month ($39,600 annually). Current operating expenses total $12,240/year, producing a current NOI of $27,360 and a 6.59% cap rate. The property offers strong upside potential, as current rents of $1,600 and $1,700 sit below market levels of approximately $1,800/unit. Bringing both units to market rent would increase annual gross income to $43,200, raising NOI to $30,960 and the cap rate to 7.46%, with expenses held flat. This combination of stable in-place cash flow and clear rental upside makes 429 NW 14th Avenue an attractive value-add opportunity for investors seeking a manageable two-unit asset in a strong Fort Lauderdale submarket.
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0BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
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1,170SQFT
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$355$/SQFT
School Ratings & Info
Description
429 NW 14th Avenue is a 2-unit duplex in Fort Lauderdale's 33311 submarket, offered at $415,000 ($207,500/unit). Both units are updated 2BR/1BA and currently occupied, generating combined rent of $3,300/month ($39,600 annually). Current operating expenses total $12,240/year, producing a current NOI of $27,360 and a 6.59% cap rate. The property offers strong upside potential, as current rents of $1,600 and $1,700 sit below market levels of approximately $1,800/unit. Bringing both units to market rent would increase annual gross income to $43,200, raising NOI to $30,960 and the cap rate to 7.46%, with expenses held flat. This combination of stable in-place cash flow and clear rental upside makes 429 NW 14th Avenue an attractive value-add opportunity for investors seeking a manageable two-unit asset in a strong Fort Lauderdale submarket.
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