River Bend

Posted: 2/13/2020
16 Units
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About River Bend

Cushman & Wakefield, as exclusive marketing advisor, is pleased to present River Bend, a 16-unit property located at 247 Nugent Ave in Fort Lauderdale. The property has shown strong historical occupancies with below market rents. There is significant rental upside by increasing the rents on the units with rent comps strongly supporting rent growth of $300+ per month. Renovated multifamily properties in the immediate area are renting upwards of $1,400 for a one bedroom unit. The property was built in 1966 and has its 40 year certification. The property operates as a 12-month rental but offers an excellent Airbnb/short-term rental opportunity. The property is waterfront and includes 14 parking spaces. The units average 439 square feet with 10 one-bedrooms and 6 two-bedrooms. Located in the heart of downtown Ft Lauderdale walking distance to Riverwalk, Las Olas and Himmarshee.