Featured Investment

As I’ve mentioned in the introduction of this site, a great investment in Fort Lauderdale is not just about a great CAP rate; it’s also about obtaining the luxuries of Fort Lauderdale’s lifestyle, as they are rare. On this month’s featured investment, I offer the opportunity to live on one of the few open waterways, very necessary for mega yachts, with the ability to have TWO slips for up to TWO 180 foot vessels (a monthly rental rate of about $6,000/each) in the backyard of your newly built home of over 4,500 feet in one of Fort Lauderdale’s most desired neighborhoods.

Victoria Park, as described in the Communities Page on this site, is one of the most popular areas in Fort Lauderdale because of its central location between downtown Las Olas and the beach. Waterfront homes in this area range from $1,200,000 – $5,000,000 and close around $680/square foot. The desirability for Victoria Park and Victoria Highlands is it’s privacy from the bustling city by the numerous oak trees, parks, and waterways surrounding it.

Here’s my rating for this magnificent residence:

Scale of 1-5.
1 = Bad Investment
5 = Excelllent Opportunity
Water Frontage 5
Canal Depth/Width 5
Home 5
Neighborhood 5
Asking $/SF 4

Off of 20th Avenue where this home is located, there is 280 feet of open waterfront (typically from 90-100 feet on average in Las Olas Isles), giving wide expansive views and large yachts a better opportunity for maneuvering. This is major for yacht owners who are having a much harder time finding space for their large vessel as the market is constantly improving here in Fort Lauderdale. The home itself is completely brand new and offers 4500 square feet of living space, with an additional 1,000 square feet in balconies and terraces for this incredible view, two stories, four bedrooms, and five bathrooms.

The asking price for this home is $4,495,000 which comes to almost $1,000/square foot. This is obviously higher compared to what other sales in this area have been, but there have been zero opportunities with the capability of making an additional $12,000/month from a yacht tenant. Plus, the only other opportunity for an owner with 2 large yachts is a point lot on 5th Key for $3,395,000 and the home is being considered as a “tear down,” built in 1971. If lot values for this type of investment sell in this area for $3,000,000, an opportunity to purchase a brand new home ready to go at an asking price of $4,495,000 is an incredible value.

I encourage you to check out his property and let me know your thoughts. I definitely will be sending this to my investors that enjoy South Florida’s waterways.

Happy Hunting!
Erika Axani
Erika@FloridaLuxurious.com
954-560-4616