37 Hendricks Isle
- 6-unit waterfront apartment building with 5 deep water dock slips
- Prime location on Hendricks Isle near East Las Olas Blvd and Fort Lauderdale's CBD
- Total gross building area of 3,212 SF with reinforced concrete construction
- Updated interiors with stainless steel appliances, wood floors, and in-unit washer and dryers
- Excellent parking ratio: 1.67 spaces/unit, 10 surface spaces in total
- Low vacancy rate of 5.4%, below the submarket average of 5.9%
- RMM-25 zoning supports multifamily development and rental income growth
- Land area of 9,675 SF with dimensions of 120' x 80'
Property Description
Lee & Associates presents The Hendricks Isle Apartments & Docks, a prime waterfront investment opportunity on Hendricks Isle near Las Olas Blvd and Downtown Fort Lauderdale CBD, and Las Olas Beach. This charming two-story, 6-unit multifamily property offers 3,212 square feet of gross building area on a 0.22 AC waterfront parcel with updated apartment interiors including stainless steel appliances, wood floors, and in-unit washers and dryers. The waterfront property also boasts 5 deep water dock slips allowing additional rental income for motorized boats and sailboats. With a market-focused rent strategy and a robust vacancy rate of only 5.4%, this desirable property is situated in the sought-after Hendricks and Venice Isles submarket within walking distance to shops and popular area dining and entertainment. It boasts a favorable parking ratio of 1.67 spaces per unit, supported by 10 surface parking spaces. This property features a solid investment profile with reinforced concrete construction and RMM-25 zoning, ideal for multifamily investors seeking opportunities in a high-demand area. Located within the Central Business District of Fort Lauderdale, this property benefits from its proximity to vibrant East Las Olas Boulevard, only 0.3 miles away, and major transportation hubs such as Fort Lauderdale-Hollywood International Airport (7.1 miles). The surrounding area supports an affluent demographic with average household income of $184,643 within 5 minutes, coupled with steady population and household growth projections through 2029. Accessibility is enhanced by its central location near major commuter routes and public transportation options including Brightline High Speed Train Station just 2 miles away, ensuring long-term tenant demand and investor appeal.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $4,400,000 |
| No. of Units: | 6 |
| Year Built: | 1945 |
| Lot Size: | 0.22 Acres |
| Opportunity Zone: | No |
| Price per unit: | $733,333 |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
805 San Carlos Drive
Fort Myers Beach, Florida
2 11th Street
St Augustine Beach, Florida
10609 Parkhill Circle
Panama City Beach, FloridaBrokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout