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1501 7th Avenue, Fort Lauderdale, FL 33304
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1501 7th Avenue
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  • MLS#: F10554588 ( Residential Income )
  • Street Address: 1501 7th Avenue
  • Viewed: 61
  • Price: $1,647,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1973
  • Bldg sqft: 0
  • Days On Market: 83
  • Additional Information
  • Geolocation: 26.1467 / -80.1376
  • County: Broward
  • City: Fort Lauderdale
  • Zipcode: 33304
  • Subdivision: The Terrace Condos Inc
  • Elementary School: North Side
  • Middle School: Sunrise
  • High School: Fort Lauderdale
  • Provided by: Douglas Elliman
  • REALTORS® Association of the Palm Beaches, Inc
  • DMCA Notice
  • Description
    5 PLEX fully rented (MLS classified as 4 plex) in Fort Lauderdale. Unit mix: four 1BD/1BA and one 2BD/2BA. Gross income $121,000 annually with approx. $89K NOI (5.1% cap at current pricing). Stable income with rental upside. Fully renovated with new kitchens, baths, A/C systems, flooring, fencing, railings, and new high impact windows no major deferred maintenance. Each unit includes a washer/dryer, 2 parking spaces, and separate parcel numbers. Features a pool and a 2BD/2BA unit with a private jacuzzi. Strong 1031 exchange opportunity. roperty is legally structured as five separate condo parcels under one ownership (MLS classified as 4 plex). All units are fully rented. Unit mix includes four 1BD/1BA units and one 2BD/2BA unit. Current gross income is $121,800 annually with approximately $89K NOI. Extensive renovations completed, including kitchens, bathrooms, A/C systems, flooring, fencing, railings, and high impact windows. No major deferred maintenance.Each unit includes washer/dryer and two dedicated parking spaces. Property features a private pool, and the 2BD/2BA unit includes its own jacuzzi. Strong tenant demand in Middle River Terrace location. Ideal for 1031 exchange buyer or investor seeking stabilized cash flow with long term flexibility due to separate parcel structure.
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Features
Possible Terms
  1. Cash
  2. Conventional
Close Date
  1. 0000-00-00
Cooling
  1. Ceiling Fan(s)
  2. Central Air
Exterior Features
  1. Balcony
  2. Outdoor Shower
Fencing
  1. Fenced
Flooring
  1. Ceramic Tile
Heating
  1. Separate Meters
  2. Central
High School
  1. Fort Lauderdale
Legal Description
  1. THE TERRACE CONDOS INC UNIT 5 PER CDO BK/PG: 39000/1108
Middle School
  1. Sunrise
Parcel Number
  1. 494235AF0050
Pool Features
  1. In Ground
Property Type
  1. Residential Income
Roof
  1. Barrel
School Elementary
  1. North Side
Sewer
  1. Public Sewer
Tax Year
  1. 2024
Utilities
  1. Cable Available
Views
  1. 61
Virtual Tour Url
  1. https://www.propertypanorama.com/1501-NE-7th-Ave-Fort-Lauderdale-FL-33304/unbranded
Water Source
  1. Public
Year Built
  1. 1973
Zoning Code
  1. RS-8
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