Basic Information

  • MLS # F10468607
  • Type Residential
  • Status Closed
  • Subdivision/Complex Washington Park 19-22 B
  • Total Sqft 9,909
  • Date Listed 10/28/2024
  • Days on Market 79
Description

Rare opportunity on rapidly developing Sistrunk Blvd. Drive Sistrunk: see surge of construction. 1/4 acre corner lot. 15 units can be built by right: Land has been entitled. Site plan for 15 large 1 bed/1 bath units. 7-9 of the units can possibly be 1 bed w/dens or 2 bed. Permits have not been pulled. Use site plan, customize or design your own. Recently sold comps in area:$66.7k-$84.5k per unit for land. Active comps in area:$60k-$99k per unit for land. Subject property under $50k per unit; OVER $250k OFF market value. New 1 bed apts nearby rent:$1.6k-$2.3k. New 2 bed apts nearby rent:$2.4k-$3k. Construction cost $2.2M+/-. All in cost:$3M+/-. Value once built:$4M+/-. $1M+/- instant equity. Potential 10%+/- cap rate. Opportunity zone. Huge tax benefits. Seller will finance or joint venture

Amenities

Exterior Features

  • Waterfront No
  • Parking Spaces 0
  • Pool No
  • Parking Description
  • Style Residential

Interior Features

  • Adjusted Sqft 9,909Sq.Ft
  • Sqft 9,909 Sq.Ft

Property Features

  • Address 2399 Sistrunk Blvd
  • Aprox. Lot Size 9,909
  • Furnished Info no
  • Listing Terms Cash, Cryptocurrency, Owner May Carry
  • HOA Fees $0
  • Subdivision Complex
  • Subdivision Info Washington Park 19-22 B
  • Tax Amount $2,062
  • Tax Legal desc WASHINGTON PARK 19-22 B LOT 17 LESS W1/2 LESS PAR 103 IN CA 70-6028 FOR RD BLK 5 & WASHINGTON PARK 19-22 B LOT 16 LESS RD DESC IN OR 4260/72
  • Tax Year 2023
  • Terms Considered Cash, Cryptocurrency, Owner May Carry
  • Type of Property Residential

2399 Sistrunk Blvd

Fort Lauderdale, FL 33311

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