9,710 SF Warehouse / Distribution For Sale — $2,690,000 — 632 SW 16th Ave, Fort Lauderdale – #81937

Executive Summary
624–632 SW 16th Ave presents an attractive opportunity to acquire a fully renovated eight unit multifamily asset in Fort Lauderdale, a 9,710 SF property built in 1969 and zoned RM 15 – Residential Multifamily Low Rise/Medium Density, offering an established multifamily configuration well suited for investors seeking a stabilized, low-rise/garden-style asset with strong in-place performance and future upside.
The property features a desirable unit mix consisting of seven 4-bedroom/2-bathroom units, one 3-bedroom/1-bathroom unit, and one non-conforming 1-bedroom/1-bathroom unit. All units have been fully renovated, providing modern interiors, strong tenant appeal, and a true turn-key investment profile. Additional income optimization may be available through participation in the Section 8 program.
Significant capital improvements further enhance the property's investment profile. The property has all-new PVC plumbing throughout and has completed its 40-year recertification, helping reduce near-term capital expenditure concerns. Each unit is separately metered for both electric and water, minimizing landlord-paid utility expenses and providing greater operational efficiency. With renovated interiors, durable infrastructure, and multiple avenues for additional income growth, 624–632 SW 16th Ave offers investors an attractive combination of current stability, reduced capital expenditure risk, and future value-add potential.