Washington Park 19 22 B For Sale
2399 Sistrunk Blvd, Fort Lauderdale, FL 33311

$600,000
Sold
Mila Bogatov
Mila Bogatov
Luxury Real Estate Broker

Details


  • MLS Number:F10468607
  • Virtual Tour: YES
  • List Price: $749,985
  • Sold Price: $600,000
  • Taxes:$2,062
  • Listing Date:October 28, 2024
  • Sold Date: January 15, 2025
  • Days On Market:78

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

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Mila Bogatov
Mila Bogatov
Luxury Real Estate Broker