South Middle River Villas
1034 NW 3rd Ave
Fort Lauderdale, FL 33311
Highlights
- Attractive Value Add Opportunity via Renovations
- Current Rent Well Below Market w/ Long Term Tenancy
- All Units Suited with Wall/Window A/C Units
- Zoning: RMM-25 Short Term Rental Allowed Buyer to Verify
- Located in the CRA Path of Progress (Community Redevelopment Agency)
- Roof: Last Permit Re-Roof 2004 per Lauderbuild Public Records
- Electric Meters: 5 Per Seller
- Laundry: No On Site Facilities
- +/- 1.45 Miles from Las Olas Blvd
- +/- 2.75 Miles from Fort Lauderdale World's Famous Beach
- +/- 4.11 Miles from Fort Lauderdale-Hollywood International Airport
- Income Producing Unit Mix: (4) 1/1, (1) Studio
Description
South Middle River Villas presents an ideal introductory five income producing unit multifamily investment opportunity in Fort Lauderdale, Florida. Situated just outside of Downtown, this property offers convenient access to Fort Lauderdale Beach, Las Olas Boulevard, Port Everglades, and Fort Lauderdale-Hollywood International Airport. The strong demand for workforce housing in this area ensures stable residential income, with the potential for a high-end renovation strategy in this path of progress market.
South Middle River Villas is a standard value add opportunity with significant room to move rents to market post renovations. The current configuration of the units are 4 One Bedroom, One Bath Units, and an additional Studio to create 5 Income Producing Units. The roof was last replaced in 2004 per public records search. A new Buyer would quickly participate in more aggressive insurance premiums by featuring a new roof and new impact windows unlocking immense hidden value. Repositioning the interior condition with new flooring and kitchens will further stabilize the property and allow for quick absorption at top of market rental pricing.
The Fort Lauderdale rental market is one of the fastest-growing in the nation, with rental growth remaining robust in the broader South Florida region. Nearby infrastructure improvements and commercial developments are expected to further enhance property values, positioning South Middle River Villas as a prime opportunity for appreciation in this dynamic rental market. Well appointed Class C apartments in Fort Lauderdale are performing very well with year over year rental growth where Class A has seen slower or even negative growth rates. This segment remains relatively stable due to affordability and demand.
Downtown Fort Lauderdale and its surrounding areas offer a blend of modern living and strategic location advantages, promising steady rental income growth and significant appreciation potential. The area's strong economic and demographic trends make South Middle River Villas an attractive investment in a thriving market. Thousands of people are moving to Florida on a daily basis which supports the idea that Fort Lauderdale is one of the most highly sought after metropolitan cities in the Sun Belt.
Discover the allure of Fort Lauderdale's South Middle River Villas, a prime investment opportunity in the thriving Ft. Lauderdale-Miami Dade-WPB Metropolitan Statistical Area (MSA). This prime location is in close proximity to top economic drivers, making it highly attractive to South Florida multifamily investors. The property offers easy access to renowned destinations such as Las Olas Boulevard, Riverwalk, and nearby beaches, as well as a multitude of dining and entertainment options. The region’s strong population growth and high demand for rental housing make it a compelling investment in one of Florida's most desirable communities.
Located within Fort Lauderdale city limits, home to approximately 200,000 residents, South Middle River Villas benefits from the dynamic redevelopment of neighborhoods like Flagler Village, Riverwalk, Riverfront, Fat City, and Progresso Village. These areas are being revitalized through aggressive initiatives supported by a highly active Community Redevelopment Agency (CRA). Millions of square feet are under construction, featuring an abundance of Class A residential apartments and multiple retail centers. Fort Lauderdale is recognized globally as a city on the rise, making it a premier market for real estate investment.
South Middle River Villas is strategically situated along the Broward Blvd corridor, just north of the world-famous Las Olas Blvd and the burgeoning River Walk area. Known as the "Venice of America," Fort Lauderdale boasts 165 miles of inland waterways and is renowned as the "Yacht Capital of the World," attracting the greatest collection of multi-million dollar yachts globally.
Port Everglades, generating more than $29 billion in annual business and directly impacting 11,000 jobs, contributes significantly to the local economy. The area supports various maritime industries, including shipbuilding, repairs, parts manufacturing, and retail, providing quality jobs for residents. Additionally, numerous corporate headquarters within a five-mile radius, such as AutoNation, Chewy, Citrix, Spirit Airlines, Zimmerman Advertising, Seacor, and Mednax, offer excellent employment opportunities for residents of Fort Lauderdale.
