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Cash Cow in the heart of Victoria Park, 10-unit complex contains eight 1/1's plus two 2/2's with 12 parking spots. Currently 100% rented at below-market rates, this property is generating $117,120 income per year with expenses of $32,471 (Approximately $5,400 water, $2,532 trash, $3,180 water, $600 lawn care, $3,100 insurance, $17,659 taxes) netting approximately $84,650.00. Once renovated, including addition of central a/c & a w/d in each unit, this project could generate around $180K/yr. Zoning appears to allow 7 town homes based on lot size of 13,500 SF, zoned RMM-25 (buyer to verify with city of Fort Lauderdale). Roofs have just been coated with elastomeric coating in 2019. *Please do not walk the property, all units are occupied, interior inspections may be done once under contract.

Listed by David Netzer, David Alexander Realty

Property Details of 820 NE 16th Ave

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All listings featuring the RPBGFL MLS logo are provided by the Realtors of the Palm Beaches and Greater Fort Lauderdale, Inc. and BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright 2019 Realtors of the Palm Beaches and Greater Fort Lauderdale Inc. and BeachesMLS, Inc

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