Description

Prime 5-unit multifamily in booming Progresso Village, just minutes from Flagler Village, the Brightline station, and the beach. Fully occupied and cash flowing from day one, the property features three 1-bed/1-bath units and two studios, all rented to long-term tenants—most over 5 years. Current monthly income is $8,774 with room for additional upside through future rent increases or improvements, delivering an attractive 8.83% cap rate. Interiors have been lightly updated, and the property includes separate electric meters and low-maintenance operations. Zoned RMM-25 with redevelopment potential in one of Fort Lauderdale’s fastest-growing corridors. Rare seller financing offered at 5.5% interest-only for 3 years with 35% down.

Address

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Address: 2nd Ave
City: Fort Lauderdale
State/county: Broward County
Zip/Postal Code: 33311
Area: PROGRESSO

Details

Updated on April 4, 2026 at 2:34 am

Property ID A11841385
Price $975,000
Property Size 1936 Square Feet
Year Built 1972
Type Quadruplex
Property Status Residential Income

Additional details

ArchitecturalStyle Detached
BuildingAreaTotal 1936
BuildingAreaUnits Square Feet
BuildingName PROGRESSO
ConstructionMaterials Concrete Block Construction, CBS Construction
ContractStatusChangeDate 2025-08-03
Cooling Wall/Window Unit(s)
DaysOnMarket 218
DocumentsAvailable Other Available Information, Rent Rolls
ExpirationDate 2026-06-30
Flooring Other, Tile, Vinyl
Heating Window/Wall
InternetAddressDisplayYN 1
InternetAutomatedValuationDisplayYN 1
InternetConsumerCommentYN 1
InternetEntireListingDisplayYN 1
ListAOR A-Miami Association of REALTORS
ListAgentDirectPhone 954-743-7594
ListingTerms All Cash, Conventional, Owner Will Carry
LotFeatures Less Than 1/4 Acre Lot
LotSizeSquareFeet 0
MLSAreaMajor Progresso
MajorChangeTimestamp March 30, 2026 at 09:36pm
MajorChangeType Back On Market
MlsStatus Active
ModificationTimestamp April 3, 2026 at 05:05pm
NumberOfUnitsInCommunity 2
NumberOfUnitsTotal 5
OnMarketDate 2025-08-03
OriginalEntryTimestamp August 3, 2025 at 04:22pm
OriginalListPrice 1050000
OriginatingSystemID miamire
OriginatingSystemKey miamire
OriginatingSystemName Miami Association of REALTORS®
OtherExpense 0
ParcelNumber 494234063450
ParkingTotal 8
PhotosChangeTimestamp August 3, 2025 at 04:23pm
PhotosCount 20
Possession Funding
PostalCodePlus4 7486
PreviousListPrice 1050000
PriceChangeTimestamp January 5, 2026 at 04:22pm
PublicSurveyRange 49
PublicSurveySection 34
PublicSurveyTownship 49
RentIncludes Hot Water, Gardener, Other Rent Incl, Pest Control, Sewer, Trash Collection, Water
Roof Built-Up, Shingle
Sewer Public Sewer
ShowingContactType Agent
ShowingInstructions Call Listing Agent
SourceSystemKey 418019977
StateOrProvince FL
StatusChangeTimestamp March 30, 2026 at 09:36pm
Stories 1
StoriesTotal 1
StreetDirPrefix NW
StreetName 2nd Ave
StreetNumber 848
StreetNumberNumeric 848
StructureType Quadruplex, Fourplex
SyndicationRemarks Prime 5-unit multifamily in booming Progresso Village, just minutes from Flagler Village, the Brightline station, and the beach. Fully occupied and cash flowing from day one, the property features three 1-bed/1-bath units and two studios, all rented to long-term tenants—most over 5 years. Current monthly income is $8, 774 with room for additional upside through future rent increases or improvements, delivering an attractive 8.83% cap rate. Interiors have been lightly updated, and the property includes separate electric meters and low-maintenance operations. Zoned RMM-25 with redevelopment potential in one of Fort Lauderdale’s fastest-growing corridors. Rare seller financing offered at 5.5% interest-only for 3 years with 35% down.
TaxAnnualAmount 10779
TaxLegalDescription PROGRESSO 2-18 D LOT 47, 48 BLK 260
TaxYear 2024
YearBuiltDetails Resale
Zoning RMM-25