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842 NW 1st Ave
Fort Lauderdale, FL 33311 Progresso Village

$1,900,000 USD

Apartments For Sale • 4,753 SF

Property Details

Property Type Apartments
Total Building Size 4,753 SF
Lot Size 0.23 AC
Building Class C
Year Built 1974
Cap Rate 6.43 %
Zoning RMM-25

52 Transit Score

92 Walk Score

                
                    Highlights
                
                                Unit Mix: Eight (8) Large & Spacious One-Bedroom Units
                            
                                Units feature modern interiors, impact doors, separate meters, and updated kitchens, vanities, lighting, cabinets, and stone countertops
                            
                                Potential Gross Income of $182,400 Annually at Market Rates, Currently 6.36% Going in Cap Rate from Day One!
                            
                                Seller financing is available at a rare 5.5% interest-only rate, providing attractive, low-cost debt and strong cash-on-cash returns.
                            
                                Zoned RMM-25 and in rezoning to NW-RAC, the property offers potential to double its unit count if redeveloped

Property Flyers

842 NW 1ST AVE-ELEVI-NLEVI-FLYE

Financial Summary (Proforma)

Net Operating Income: $123,640 USD (2025)

Cap Rate:	6.43 %
Total Expenses:	$59,160 USD

Amenities

24 Hour Access
Air Conditioning

Public Transportation

Commuter Rail	Drive	Walk	Distance
	3 min	18 min	0.9 mi
Fort Lauderdale (Tri-County Commuter - South Florida Regional Transportation Authority (Tri-Rail))	9 min	-	3.5 mi
Airport	Drive	Walk	Distance
Fort Lauderdale/Hollywood International	16 min	-	8.6 mi
Miami International	53 min	-	33.8 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	10
Type:	Surface
Included in Rent:	Yes

Elior Levi 954-743-7594 Fausto Commercial Realty Consultants

842 NW 1st Ave Fort Lauderdale, FL 33311 Progresso Village