1115 SW 2 Court 1-5, Fort Lauderdale, FL 33312 (MLS# R10090636)

Supplements: Market Information: A rare find in prestigious Sailboat Bend, the only residential historic district in Fort Lauderdale. Rich with old world Florida charm, the Sailboat Bend neighborhood features native tropical vegetation and visually stunning historical homes. With its close proximity to downtown Fort Lauderdale, Las Olas Boulevard, I-595 and ... (Read more) Market Information: A rare find in prestigious Sailboat Bend, the only residential historic district in Fort Lauderdale. Rich with old world Florida charm, the Sailboat Bend neighborhood features native tropical vegetation and visually stunning historical homes. With its close proximity to downtown Fort Lauderdale, Las Olas Boulevard, I-595 and I-95, this location is highly sought after by young professionals and families alike.  Occupancy rates are at record levels.  Owners in the area report a strong rental market with high demand as it has been many years since a new multi-family building has been built here.  Additionally, most new construction caters to the high end luxury market and does not compete with buildings like this one.  Recently, the Fort Lauderdale/Hollywood international airport completed a $719 million runway expansion project and the nearby I-595 highway underwent a $1.8 billion expansion.  A quick drive down most any main road in Fort Lauderdale reveals that it is booming with new restaurants, retail stores and other major investments in the area.  The economy in South Florida continues to improve and young professionals continue to move to Fort Lauderdale and seek rental housing close to the Downtown Core. Rents are on the rise over the past eighteen months and show no sign of slowing down due to the very limited supply of inventory. About the Property The property was originally constructed by a local architect, who meticulously maintained it over the years. The current owners have modernized and renovated the property, including new paint and landscaping, four new central air conditioning units, fully enclosed PVC back patios, faux wood flooring in some units, and a brand new elastomeric roof sealant with a 10 year warranty. The structure is composed of concrete on the first floor, concrete dividing walls up through the second floor, concrete floors and wood frame front and rear second floor walls. All of the units are townhomes which is unique to the area. The windows have been updated to hurricane impact standards and a newer PVC fence borders the property and serves as a patio enclosure. The building is located close to downtown, one block north of fashionable Las Olas Boulevard. The Fort Lauderdale Police Headquarters is within blocks providing a greater sense of security to tenants.