828-848 Ne 15th Ave Fort Lauderdale, FL 33304
Great opportunity in Fort Lauderdale, FL!.
This Fort Lauderdale development opportunity consists of an existing 6-Plex plus a Triplex, totaling 9 existing units, 1,572 sqft of living space on a 0.31 acre lot. Don’t miss out on this great opportunity!
Investment and Property Details
At StrandPark Properties, we believe in creating win-win opportunities. We invite our clients to sponsor rehab projects, which not only shares the financial success but also fosters a truly collaborative partnership. While we could fund these projects ourselves, we actively value the insights and involvement of our clients. This unique approach allows you to earn 30% profit from the sale of the property, in addition to your initial investment back, making it a lucrative opportunity for everyone involved.
Explore our current deals and join us in transforming properties into profitable ventures.
As-is price:
$2.4m
After Repair Value:
$4.2m
Investment Duration:
3 months & 8 days
Return on Investment:
A 30% profit split
Rehab Cost
$330,000
Estimated Purchase Price:
$3.2m to $3.6m
Security
IMPORTANT NOTICE: Investment Security and Closing Guarantee
A Purchase Agreement has been signed with a committed End Buyer, providing an anticipated exit for the project.
In the event the End Buyer fails to close immediately following the property rehab completion, Strandpark Properties Limited is contractually obligated to pay the investor their full Return on Investment and Initial Investment on the exact date agreed upon by the investor and Strandpark Properties, as stipulated in the Joint Venture Contract Agreement. This serves as a principal guarantee and ensures the investor is paid on schedule regardless of the final sale timeline.
No Additional Capital Calls: The Operating Partner is solely responsible for any cost overruns, protecting the investor from being asked for further funds beyond the initial $76,000 commitment.
Information Rights: Weekly financial reporting requirements ensure complete transparency, allowing the investor to monitor the project’s financial health in real-time.
Lead Contractor
Shane Hartsell
Rehab Cost Breakdown
Phase 1: Interior Value-Add Finishes
| Category | Investment Focus (9 Units) | Budget Allocation | Key Feature/Product |
| Kitchens | Full replacement for all 9 units. | $90,000 | Pre-fab Shaker Cabinets, Level 1 Quartz Countertops (highly durable), Stainless Steel Mini-Appliances. |
| Bathrooms | Full cosmetic refresh. | $36,000 | New vanities, modern fixtures (Matte Black/Brushed Nickel), new low-flow toilets, subway tile tub surrounds. |
| Flooring | Full unit coverage. | $18,000 | Luxury Vinyl Plank (LVP) throughout. Waterproof, low-maintenance, and modern look. |
| Lighting/Paint | Interior finishes. | $18,000 | Fresh modern color palette (light/neutral), LED Recessed Lighting in living areas to maximize space and efficiency. |
| Subtotal: Interior Finishes | $162,000 | (49.1% of Total Budget) |
Phase 2: Core Systems and CapEx Mitigation
| Category | Investment Focus (9 Units) | Budget Allocation | Key Feature/Product |
| Plumbing | Upgrade lines and fixtures. | $25,000 | New PEX supply lines (where accessible), drain checks, and new small-capacity Hot Water Heaters (HWH). |
| Electrical | Code compliance & efficiency. | $35,000 | Electrical panel checks/upgrades, new wiring runs for kitchens/baths, proper grounding. |
| HVAC | Climate control. | $18,000 | Repair & replacement of existing A/C units or strategic installation of efficient Mini-Split Systems. |
| Subtotal: Core Systems | $78,000 | (23.6% of Total Budget) |
Phase 3: Exterior Branding & Contingency
| Category | Investment Focus (9 Units) | Budget Allocation | Key Feature/Product |
| Curb Appeal / Exterior Paint | Stucco repair & modern finish. | $15,000 | Full exterior paint in a high-contrast, modern Florida aesthetic (e.g., white and charcoal). |
| Roof & Exterior CapEx | Structural protection (Critical). | $60,000 | Addressing Structural Concerns (roof repair/re-coat, fascia/soffit replacement) and exterior windows/doors replacement where efficiency is low. |
| Landscaping/Signage | Branding the complex. | $5,000 | Low-maintenance landscaping, modern building numbers, and prominent STRANDPARK signage. |
| Contingency | Unforeseen repairs (10% Buffer). | $10,000 | Dedicated fund for unexpected issues uncovered during demolition/rebuild. |
| Subtotal: Exterior & Buffer | $90,000 | (27.3% of Total Budget) |
TOTAL RENOVATION BUDGET: $330,000
Phase Breakdown
| Phase | Estimated Duration | What Must Happen | Key Risk/Bottleneck |
| I. Pre-Construction & Permits | 3 – 4 Weeks | Final plans submitted, city review for all electrical, plumbing, HVAC, and structural changes. Permits issued. (We assume the prior demolition process is complete and approved). | Fort Lauderdale City Review Times. This is the hardest part to compress. Even with an expediter, a full gut structural/system permit can take time. |
| II. Rough-In (Parallel Work) | 2 – 3 Weeks | New electrical wiring (rough-in), new plumbing supply lines/drains (rough-in), and HVAC/Mini-Split line sets installed across all 9 units concurrently. | Trade Overlap and Inspections. Coordinating multiple trades without them stepping on each other’s work, and passing the first set of city Rough-In inspections quickly. |
| III. Drywall & Finishing | 3 – 4 Weeks | Insulation, hang drywall, tape, mud, and sand. Followed by interior paint, setting LVP flooring, and tiling the 9 bathrooms. | Drying Time. Mudding and painting require specific drying/curing times that cannot be rushed, even with dehumidifiers. |
| IV. Final Install & Punch List | 2 Weeks | Install kitchen cabinets, quartz countertops, appliances, bathroom vanities, plumbing fixtures, electrical trim (lights/outlets), final doors, and touch-up paint. Final City Inspections. | Final Inspections. If any unit fails its final inspection, it can delay the entire project completion and turnover. |
| TOTAL ESTIMATED TIME | 11 – 12 Weeks |
Cash Closing Timeline: StrandPark Multi-Family
14 Days
Total Estimated Renovation & closing Timeline:
Using the standard approximation of 30 days per month, this converts to:
3 months and 8 days