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700-704 SW 16th Ave
Fort Lauderdale, FL 33312 Riverside Park

$955,000 USD

Apartments For Sale • 2,940 SF

Property Details

Property Type Apartments
Total Building Size 2,940 SF
Lot Size 0.23 AC
Building Class C
Year Built 1971
Cap Rate 6.07 %
Zoning RM-15

37 Transit Score

26 Walk Score

                
                    Highlights
                
                                Fully Occupied: All four 2-bedroom, 1-bath units are currently rented, producing $6,700 in consistent monthly income.
                            
                                Rental Upside: With market rents on the rise, the property has the potential to increase gross income to approximately $8,800 per month.
                            
                                Individually Metered: Each unit comes with central A/C and its own electric meter, allowing tenants to cover utilities and keeping owner expenses low.
                            
                                Great Location: Minutes from I-95, Fort Lauderdale-Hollywood International Airport, Downtown, Las Olas, and the beach, offering tenants excellent.
                            
                                Solid Property: The 3,047 SF building sits on a large 10,000 SF lot, providing long-term stability and room for potential improvements.
                            
                                Growing Market: Located in one of South Florida’s fastest-growing rental corridors, supported by strong demand, job growth, and appreciation trends.

Property Flyers

700 SW 16TH AVE-ELEVI-FLYER

Financial Summary (Actual)

Net Operating Income: $58,115 USD (2024)

Cap Rate:	6.07 %
Total Expenses:	$21,985 USD

Amenities

Air Conditioning

Public Transportation

Commuter Rail	Drive	Walk	Distance
	7 min	-	2.2 mi
Fort Lauderdale (Tri-County Commuter - South Florida Regional Transportation Authority (Tri-Rail))	8 min	-	2.4 mi
Airport	Drive	Walk	Distance
Fort Lauderdale/Hollywood International	12 min	-	5.7 mi
Miami International	49 min	-	30.9 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	12
Type:	Surface
Included in Rent:	Yes

Elior Levi 954-743-7594 Fausto Commercial Realty Consultants

700-704 SW 16th Ave Fort Lauderdale, FL 33312 Riverside Park