BEDS0
BATHS
MLS#F10554588
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONThe Terrace Condos Inc
Property 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.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Central Air, Ceiling Fan(s)
Fenced: Yes
Heating: Central, Separate Meters
Roof Type: Barrel
Stories: 2.0
Taxes: $4,319
Year Built: 1973
Amenities
Outdoor Shower
Balcony
Feature Descriptions
Days on Site: 51
Exterior: Block
Fencing: Fenced
Flooring: Ceramic Tile
Parcel#: 494235AF0050
Pool: In Ground
Sewer: Public Sewer
Spa: Yes
SQFT Living: 794
Swimming Pool: Yes
Units: 4
Utilities: Cable Available
Utilities: Cable Available
Water: Public
Windows: Blinds
Local Schools
High School: Fort Lauderdale
Middle School: Sunrise
Elementary School: North Side
Listed By / Shown By
Listed By
Agency Name: Douglas Elliman
Agency Phone: 954-874-0740
Shown By
Agency Title: RealtyMark
Agency Phone: 888-240-0600
Estimate Your Payment
Estimated Payment
$ 4,505.80 per month $3,665.51 Principal & Interest $359.92 Property Tax $480.38 Homeowner's InsuranceChange Payment Information
1501 NE 7th Avenue | MLS# F10554588
This multi-family property located at 1501 NE 7th Avenue, Fort Lauderdale, FL 33304 is currently listed for sale with an asking price of $1,647,000. Search Fort Lauderdale real estate on www.realtymarkllc.com today.