Investors! – Now is the Time to Buy
Ft Lauderdale Real Estate
Fort Lauderdale currently offers some great investment opportunities for those looking at multifamily units – Duplexes right through to Fourplexes and above.
Many of these units have returns of 7%-10% or more AND many also have the added bonus of a great “up and coming” location.
This is especially evident in many of the up and coming gay friendly neighborhoods – where not only are the homes being renovated but also in many cases the cities are actively focused on redevelopment and revitalization initiatives.
In this post we look at Investment Real Estate, present a Pricing Guide and we review median prices for Duplexs through to Fourplexes
Fort Lauderdale Investment Real Estate
Here is a broad pricing guide for Fort Lauderdale Investment Real Estate.
|$149,999 or under||45|
|$150,000 – $199,999||88|
|$200,000 – $249,999||72|
|$250,000 – $299,999||71|
|$300,000 – $349,999||36|
|$350,000 – $399,999||32|
|$400,000 – $449,999||19|
|$450,000 – $499,999||17|
|$500,000 – $549,999||7|
|$550,000 – $599,999||7|
|$600,000 – $699,999||10|
|$700,000 – $799,999||11|
|$800,000 – $899,999||6|
|$900,000 – $999,999||2|
|$1,000,000 or over||16|
While each unit in this market has its own specific characteristics (we discuss this more below) – it is important to note from the pricing guide above the level of inventory in each price range.
Some times I have Gay and LGBT buyers who are very focused on a price range and return – and while searching a fixed price range can be good – often times there are many opportunities to be had across lower price points – for example we have 133 investment units for sale under $200,000.
Median Price Guide
By Units – Duplexes to Fourplexes
Here are the median prices by units for duplexes, triplexes and fourplexes – based on units currently for sale.
|Total Units||SF/FF||List Price||LP$/SqFt|
We can see from this report the number if units, the square footage and median price list.
We can also see the list price to square foot price which ranges from $128.00 to $172.00
The list price to square foot price is an important factor – and further evaluation of this results in the following:
2 Units / $220,950 = $110,475 per unit
3 Units / $350,000 = $116,666 per unit
4 Units / $375,000 = $93,750 per unit
We can see from this evaluation that the price per units increases from $110,475 for a 2 bedroom unit to $116,666 for a 3 bedroom unit.
Important to note is that for a 4 bedroom unit however the price per unit then falls to $93,750.
In my experience here as a Fort Lauderdale Real Estate Agent / Realtor – I see time and time again how Fourplexes can offer great value AND provide great returns.
This can be especially the case for those buyers looking to invest in real estate in or close to popular gay friendly neighborhoods.
For as popular gay neighborhoods like Wilton Manors continue to grow – pushing their real estate prices up – the surrounding neighborhoods then become more attractive AND affordable to Gay and LGBT renters
Often times in these surrounding neighborhoods there are great investment properties including fourplexes that are “under” priced given their location, returns and proximity to the more popular “Gay / Gay Friendly” neighborhoods.
With the cities increasing Gay and LGBT population combined with the economic upswing makes now a great time to buy real estate here in Fort Lauderdale!
I hope you have enjoyed this article on Fort Lauderdale Investment Real Estate – Kevin Wirth Realtor.