Middle River

Posted: 1/27/2020
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About Middle River

Cushman & Wakefield, as exclusive marketing advisor, is pleased to present Middle River Properties, 11-units located at 899 & 1041-1045 NE 15th street just north of downtown Ft Lauderdale. The property has shown strong historical occupancies with below market rents. There is significant rental upside by either increasing the rents on the units – 5 out of 11 units are on month-to-month leases with low rents – or by implementing a value-add program and improving the property while pushing rents even further. Renovated multifamily properties in the immediate area are renting upwards of $1,400 for a one bedroom unit. The three buildings were built in 1966 & 1986. The property in total has 19 parking spaces. The units average 649 square feet with 10 one-bedrooms and 1 two-bedroom. The properties are only minutes from Downtown Ft Lauderdale, Flagler Village, Galleria Mall and the beaches.