4020 NW 31st Ter # 5, Lauderdale Lakes, FL

About this property

Opportunity meets practicality in this established Lauderdale Lakes 5-unit multifamily property. Approximately 8,850 SF lot, this single-story building offers a versatile mix of three 2-bedroom/1-bath units, one 1-bedroom/1-bath unit, and one studio—giving an investor multiple rental options under one roof. The property features approximately 3,534 SF of building area, central A/C, eight parking spaces including assigned resident parking and two guest spaces, plus a fenced shared courtyard/yard that gives residents a pleasant outdoor area. Tenants pay their own electricity, while the owner covers water and trash. 4 out 5 units are currently occupied, providing an existing rental base while the remaining unit offers flexibility for an investor. Current rents are below market, creating an opportunity to increase income over time as units turn and rents are adjusted, subject to market conditions. Location is another benefit. The property is approximately 5 minutes to I-95 and 15 minutes to downtown Ft Lauderdale. The surrounding community has an established rental presence, helping attract tenants looking for convenient and accessible housing. For an investor looking for a manageable multifamily property with existing occupancy, multiple units, no HOA, and room to improve rental income, this property is worth a closer look. Offered for sale AS-IS. Buyer to independently verify all measurements, zoning, licensing, unit configuration, and other property information.