306 NE 5th Ct

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Address: 306 NE 5th Ct, Dania Beach, Florida, US
Created date: January 29, 2024
Date last updated: March 22, 2024
  • 100% Occupied True Value Add Opportunity with Ability to Increase Rents Over 53.83%.
  • The Asset Sits Completely on Water Front Land Offering Dock Access.
  • Recent Capital Improvements Include Hurricane Impact Windows & Doors, New A/C Units, and Partial Seawall Reconstruction.
  • The property has 900 Linear ft. that can fit up to 20 Boat Rentals.
  • The property Includes Active and Existing Marina Licenses for Commercial Boat Repairs.
  • Property Sits On 2.7 Acres of RS-8000 (Residential & Townhomes) Zoned Land Primed For Redevelopment
  • Prime Dania Beach Location Down The Street From Downtown Dania Beach & Close Proximity to Dania Pointe
  • Close Proximity to the Newly Built The Casino @ Dania Beach
  • Surrounded By Major Highways Such As US1, A1A, and Dania Beach Blvd

Property Description

Marina Apartments is a 37-unit multifamily community with 20 boat rentals located in the heart of the North Beach submarket in Dania Beach, Florida, which is in Broward County. The subject property was built in 1974 using reinforced concrete block construction with a frame of stem wall exterior and is situated on 2.7 acres of waterfront land. The property is located on NE 5th Ct and is just blocks from major retailers. The surrounding area boasts multi-family buildings of similar age and construction. Due to the premium location, there are many luxurious homes within the neighborhood. The asset is conveniently located East of US-1, north of Dania Beach Blv, and directly west of A1A. Within a short drive, you can access the world-famous Dania Beach and downtown. Additionally, Marina Apartments is located in one of the most desired locations known in Broward County. The investment opportunity is being offered to the market by the original owners who developed it in 1974. Marina offers a highly attractive unit mix of (7) one-bedroom & one-bathroom, (14) two-bedroom & one-bathroom, (15) two-bedroom & two-bathroom, and (1) single office space totaling approximately 32,750 RSF. Recent exterior capital improvements include hurricane-impact windows & doors, new A/C units, and partial seawall reconstruction. Marina Apartments offers an investor the opportunity to purchase a rare waterfront value add asset in the heart of one of the hottest markets in South Florida. The investment opportunity offers amazing cash flow on day one with the potential to increase rents by over 53.83% and take advantage of a location that simply cannot be beaten!

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
Price: $12,500,000
No. of Units: 37
Year Built: 1974
Lot Size: 2.70 Sq ft
Opportunity Zone: No
Price per unit: $337,838
Property Website Click Here
Address: 306 NE 5th Ct, Dania Beach, FL 33004, USA
Provided by:

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