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1350-1400 NE 5th Ter
Fort Lauderdale, FL 33304 Middle River Terrace

$6,500,000 USD

Apartments For Sale  •  20,622 SF

Property Details

  • Property Type Apartments
  • Total Building Size 20,622 SF
  • Lot Size 1.1 AC
  • Building Class C
  • Year Built 1972
  • Cap Rate 7.80 %
  • Zoning RM-15
40 Transit Score
70 Walk Score

Highlights

Prime Middle River Terrace Asset: 28-unit property with an all 2BD/1BA unit mix in a top Fort Lauderdale rental area.
Renovation Mix: 14 units fully renovated, New Kitchens, Flooring, Lighting, Bathrooms, Impact windows/doors, Central AC and many more upgrades.
Strong Compliance: 40-year recertification completed; ample on-site parking.
Value-Add Upside: ~10 vacancies created by renovations—ideal for lease-up at market rents.
Cash Flow: Nearly an 8% cap rate at full occupancy.
Location: Minutes to Wilton Drive, Downtown, Las Olas, the beach, and FLL Airport.

Property Flyers

Financial Summary (Proforma)

Net Operating Income: $507,200 USD (2026)
Cap Rate: 7.80 %
Total Expenses: $198,400 USD

Public Transportation

Commuter RailDriveWalkDistance
6 min - 2.0 mi
Fort Lauderdale (Tri-County Commuter - South Florida Regional Transportation Authority (Tri-Rail)) 11 min - 4.4 mi
AirportDriveWalkDistance
Fort Lauderdale/Hollywood International 17 min - 9.2 mi
Miami International 54 min - 34.4 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 40
Type: Surface
Included in Rent: Yes
Elior Levi 954-743-7594 Fausto Commercial Realty Consultants
Elior Levi 954-743-7594 Fausto Commercial Realty Consultants