Fort Lauderdale Real Estate Deal Of The Week!
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Fort Lauderdale Real Estate Deal Of The Week!
This week’s Fort Lauderdale Real Estate Deal Of The Week is really special. Why? Because it’s a 2-for-1 DOW spectacular. Instead of our normal presentation, we’ve got two properties for you to look at.
The first is an absolute gem. A seriously luxurious tri-level townhouse that I am SURE has a feature most of you have never seen, and the other is a residential income property that will have the cash-flow hungry investors salivating. Let’s get to it shall we?
Imagine living in a townhome so luxurious that you would probably be happy if you were confined to home arrest. No I’m not talking about Bernie Madoff’s digs. I’m talking about a 3 bedroom, 3 and a half bathroom, 3,000 square foot gated residence in one of Fort Lauderdale’s most sought after neighborhoods, Victoria Park. Now this won’t be for everybody. If you’re looking to find something cheap, you might need to wait until next week’s DOW when we feature the Clampett’s Specials.
This property is offered at a seriously STOOPID price of just $549,900.00Â
No this unit is for the more…how shall we say it…discerning buyer (euphemism for “has the money”). This property has never been lived in. The builder went belly-up but before he did he created a masterpiece. I like to write but some times words get in the way. Check out these pictures and this quick ninja video we took of the property.
Sweet isn’t it….but in case you missed the really neat feature let me tell you what it is. This tri-level townhome with a roof top terrace with cool views of the city skyline has a flippin elevator! An elevator! How seriously cool is that? Now I’m not lazy or anything but dig this.
You’ve got some friends over and you’re chillin’ with a nice bottle of wine and someone says ..”Hey…where’s the food?”…so you hop down to the gourmet, designer kitchen and meet the guy bringing over some grub from the nearby Las Olas eatery (what? didn’t think I was gonna cook at a party did you?) and then you have to carry all the food up to the roof top terrace.
Not going to happen.So you step into your elevator and suddenly appear like Batman on the rooftop terrace and your friends simply think you’re the coolest while wolfing down some Goose Liver Pate you just had brought in from Cafe de Paris. Now that’s styling!
| Price | $549,999.00 | Bedrooms: | 3 |
| Address: | 1314 NE 2ND ST | Bathrooms: | 3 |
| City: | Fort Lauderdale | Sq. Ft.: | 2,700 |
| State: | Florida | Annual Taxes: | $2,879.00 |
| Zip Code: | 33301 | Year Built: | 2008 |
| County: | Broward | HOA Fees: | ***0*** |
| Property Type: | Tri-Level Townhouse | Market Rent: | $3,000.00 - $6,000.00 |
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We think this is a great deal and it is featured because it appears that the buyer of this property will be looking at walking into a property with an equity cushion which is important in a market with declining values.
Our second DOW showcase is a seriously cash flowing duplex. This duplex has a 2 bedroom, 1 bath unit on each side. Each unit is approximately 800 square feet. Each side should rent for about $850.00 to $950.00 per month for a total income of around $1,800.00 per month.Can you say “cha-ching”?!! This duplex is tenant ready.
No repairs are needed on this property. Not even paint. Buy it today, rent it tomorrow and cash flow from day 1.Rarely will you find a residential income property in a nice quiet area with little or no rehab needed that cash flows from day 1.
Do the math and see for yourself. Over $21,000 per year in gross rental potential with minimal ongoing maintenance.If you’re in the market for a property to hold for your portfolio, this may be the one.
This property is offered at a substantially discounted price of $154,900.00Â
| Price | $154,900.00 | Bedrooms: | 2 (per side) |
| Address: | 281 NE 56TH ST | Bathrooms: | 1 (per side) |
| City: | Oakland Park | Sq. Ft.: | 1,700 |
| State: | Florida | Annual Taxes: | $6,037.00 |
| Zip Code: | 33334 | Year Built: | 1967 |
| County: | Broward | HOA Fees: | ***0*** |
| Property Type: | Duplex | Market Rent: | $2,000.00 total |
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We think this is a great deal and it is featured because it appears that the buyer of this property will be looking at walking into a property with an equity cushion which is important in a market with declining values.
As always, the Sultan of short Sales, Barry Johnson from Real Estate Radio USA with us to give us his take on this property. Real Estate Radio USA is arguably the top rated real estate talk radio show so I think he knows a thing or two about what is a deal and what isn’t.
Hi Robin, and thanks for having me. Both of these deals are incredible. I loved the rooftop terrace of the townhome even more than the elevator! You don’t find these kinds of amenities in a home at that price. I saw that units in the area we’re going for $750,000.00 and up which makes this a serious bargain for that buyer looking for the exclusive, upscale, Victoria Park lifestyle.
The duplex is a no-brainer. East side of town, tenant ready, cash-flow from day 1…all the hot buttons get nailed on this one.
Here is my recommendation:
On the townhome I would recommend an opening offer of $505,000.00 with 3% Seller concessions given to the Buyer for closing costs and any finishing improvements that may be needed. This would result in a purchase price nearly $250,000.00 or 30% below market value.
On the duplex, I would be careful It’s priced aggressively and anyone who is interested can see it already cash flows. Don’t get greedy but an offer on $141,000.00 would not be out of the question and allows for even further cash flow enhancement and is still within the banks acceptable loss guidelines which may buyers fail to understand when submitting offers.
Definitely a “BUY”!
- Barry Johnson
Real Estate Radio USA
Well, you’ve heard what one area expert has to say about this home and what he thinks of the deal, if you’d like to know what I, as a real estate agent in the Fort Lauderdale real estate market thinks about this deal and my overall purchase strategy recommendation then please email me and I will send you information on what I would advise my clients to do regarding the viability of this deal.
There is no fee or cost associated with obtaining my recommendation. Or if you like what you see and would like to commence talks about buying this home, then click the red button below and let’s get things started!
If you have any questions about this property or any other property for sale in the metropolitan Fort Lauderdale area, please feel free to email me or give me a call at 954-709-7461.
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