1501 NE 7th AVE, Fort Lauderdale, FL 33304
1501 NE 7th AVE, Fort Lauderdale, FL 33304
1501 NE 7th AVE, Fort Lauderdale, FL 33304
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Team At The Comerford Group

Team At The Comerford Group

+1(941) 586-3229
$1,647,000
Est. payment /mo
794 SqFt
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Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 794 sqft

Price per Sqft $2,074

Subdivision The Terrace Condos Inc

MLS Listing ID F10554588

Construction Status Resale

HOA Y/N Yes

Total Fin. Sqft 794

Year Built 1973

Annual Tax Amount $4,319

Tax Year 2024

Property Sub-Type Quadruplex

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.

Location

State FL

County Broward

Area 3380

Zoning RS-8

Interior

Interior Features InteriorFeatures

Heating Central, Separate Meters

Cooling Central Air, Ceiling Fan(s)

Flooring Ceramic Tile

Fireplace No

Window Features Blinds

Exterior

Exterior Feature Balcony, Outdoor Living Area, Outdoor Shower

Fence Fenced

Pool In Ground

Utilities Available Cable Available

Water Access Desc Public

Roof Type Barrel

Porch Balcony

Private Pool Yes

Building

Lot Description < 1/4 Acre

Story 2

Sewer Public Sewer

Water Public

Structure Type Block

New Construction No

Construction Status Resale

Schools

Elementary Schools North Side

Middle Schools Sunrise

High Schools Fort Lauderdale

Others

Restrictions Other Restrictions

Tax ID 494235AF0050

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Listed As-Is

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BeachesMLS, Inc. (FLR) IDX
Listed by Andres Zapata Douglas Elliman

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1501 NE 7th AVE

Team At The Comerford Group
Team At The Comerford Group

Team Leader | Broker Associate | License ID: BK3455404

+1(941) 586-3229 | team@thecomerfordgroupfl.com

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