$1,375,000 SALE
6,802 SF
61 NW 36th Street
Oakland Park, FL 33309 10 Unit Multifamily in Oakland Park (Sub-market of Ft. Lauderdale)

This ten unit property consists of eight large 1 bed/1 bath units and two 2 bed/2 bath units. All units have central air conditioning with rooftop compressors. Five of those are new or nearly new. Rents are all under market and there are no leases in place. This provides an opportunity for the value-add investor. Some modifications have been done which include all 1.26 GPF toilets, new PVC service line, new roof in 2006, termite tenting in 2018, bright mercury exterior lighting, some new bathtubs and vanities. Additionally, unit 101 is being renovated with a new kitchen and bath. Units 105 and 201 have recently updated baths. There are extra large storage rooms on site, a downstairs laundry room and extra room upstairs which an be used as an additional laundry if desired. All drain lines are PVC as well as the main line. There are 15 parking spaces of which eight are double length, allowing for a total of 23 cars to be parked. There is minimal landscaping maintenance as most of the property is gravel. All units are separately metered for electric and there is a house meter as well.

Property Type Multi-Family
Property Use Rental or Investment
Year Built 1978
Level Number 2
Average Floor Size 3,401
Lot Dimensions 75' x 125'
Available Floors 2
Sub-Lease 10
Zoning RM-25
Tax Year 2019
Cap Rate Percentage 6
Listing ID NXHE32
Style Multi-Family (5-20 Units)
Building Size 6,802 SF
Lot Size 9376 SF
Available Date Nov 7th, 2019
Taxes $15,464
Area Description

Area Description: Located in an area of Oakland Park which is going through gentrification, including a new Culinary Arts District with trendy restaurants like Funky Buddah Brewery. The famous Catfish Deweys restaurant is a six minute walk away. This beautiful property is just off Andrews Avenue lined with many restaurants, shops and a large Crunch Fitness. The area has a large urban suburban mix feel made up of families and young professionals. This particular block is comprised of mostly single family homes with a quiet family environment. Centrally located, the property is only 15 minutes to Ft. Lauderdale/Hollywood International Airport, 10 minutes to the ocean and less than 5 minutes to a major highway.

Region: South Florida

Region: Southeast

Region: Fort Lauderdale

Property Features
Parking Places: 14
Full Bath: 12
Location Name: Oakland Park
Water: City Water
Sewer: City
Heating - Fuel Type: Electric
Age: 41-50 Years Old
Lot Size: Under 1/2 Acre
Cooling: Central A/C - Electric
Gross Income: $127,200
Expenses: $40,212
Area Demographics