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Steal this Multi-Family Land near Croissant Park, Downtown Fort Lauderdale! Build 3 Townhouses!



$229,900

SOLD

SW 14th Street

Fort Lauderdale, FL

  • COMPS: http://matrix.southfloridamls.com/DE.asp?k=1024661XJ6LR&p=DE-5142349-289
  • Under 5 minutes from: i-95, 595, 441, downtown, the airport, the beach, and just one block away from million dollar ocean access homes!
  • One of the most rapidly appreciating neighborhoods in Fort Lauderdale! The median sales price in Croissant Park has increased by 21% in the past year!
  • This 9,072 square foot lot is zoned for THREE townhouses!
  • This is the ONLY vacant lot available in the area for under $100k per unit for the land!
  • The retail value on this lot is $300k ($100k per unit for the land). See pics!
  • ALL of the newer built townhouses that have sold in the neighborhood over the past 12 months have sold for $430k-$540k and are around 2,000 square feet on average! See pics!
  • This breaks down into very simple math. (Rough numbers) Price of Lot: $229,900
  • Cost to Build 3 Townhouses: $600,000 ($100 per sqft x 6,000 sqft [2,000 sqft each])
  • Impact & Permit Fees: $40,000
  • Architectural Plans: $6,000
  • Total Investment: $875,900
  • Sell For: $1,350,000 ($450,000 each)
  • Total Profit: $474,100!
  • Your cash price for this 9,000+ square foot lot build-able for THREE townhouses is just $229,900! Thats over $70,000 OFF market value!
  • If you don't want to build right away this is a great buy & hold property with virtually guaranteed price increases in the immediate future as the median sales price in Croissant Park has increased by 21% in the past year! Or just buy this lot now, re-list it on the MLS immediately, sell it for $300,000, and make a BIG instant profit!
  • Take a drive by, see the opportunity, and feel free to give us a call anytime; We are glad to provide you with all of the information you need.

Documents

 
No Documents for this Property


  • Sale Comps $300K - $320K
  • Rental Comps $8,400 - $9,300
  • Property Type Residential
  • Location Fort Lauderdale, FL
  • Size 9072 sq. ft.
  • Bedrooms 0
  • Bathrooms 0
  • TAV 81.6K
  • Annual Taxes $0
  • Year Built

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