Are you ready to seize a golden investment opportunity in the vibrant city of Fort Lauderdale? Look no further than this updated duplex in the coveted Croissant Park neighborhood. With 3 bedrooms and 2 full baths in each unit, situated on a spacious 11,175 sqft lot, this property presents a rare chance to enter the thriving Fort Lauderdale real estate market.
Property Overview
Address: Fort Lauderdale, FL
Price: $749,000
Living Area: 2,242 sqft
Unit Mix: 3 Beds / 2 Baths
Year Built: 1964
Property Highlights
- Prime Location: Croissant Park is a highly sought-after neighborhood known for its convenience and desirability. Nestled in the heart of Fort Lauderdale, this property offers easy access to the city’s vibrant culture, beautiful beaches, and numerous amenities.
- Expansive Lot with Extra Unit Potential: The generously sized 11,175 sqft lot provides ample space for potential expansion or additional development. Explore the possibilities and maximize your investment potential.
- Laundry in Units: Both units feature their own washer and dryers, adding to tenant convenience and landlord appeal. This amenity is highly valued by renters and can command higher rental rates.
- Value-Add Opportunities: A lot of opportunities to enhance the property further to increase rental income and property value.
Investment Potential
With a pro forma yearly gross income of $84,000 and pro forma CAP rate of 6.87%, this property promises a steady return on investment. The opportunity to purchase a fully updated duplex in Croissant Park is rare and highly attractive to investors seeking long-term stability and growth.
Furthermore, the property’s central AC, separate water and electricity meters for each unit, and modern amenities make it a hassle-free investment.
Fort Lauderdale’s real estate market has been on a steady upward trajectory, making it an ideal time to invest in this property. Whether you’re a seasoned investor or a first-time buyer, this duplex in Croissant Park offers a prime opportunity to capitalize on Fort Lauderdale’s thriving rental market.
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