1703 Southwest 23rd Street, Fort Lauderdale, FL 33315

A rare turnkey opportunity for investors seeking immediate, predictable returns without the operational headaches typical of South Florida rental acquisitions. 1703 SW 23rd Street is a brand-new 2025 construction townhome in Fort Lauderdale's 33315 corridor, delivering a 6.16% cap rate on day one with zero lease-up risk and no value-add work required.

The property is already occupied under a fresh 12-month lease at $7,950/month, locking in $95,400 in annual gross income through April 30, 2027. Operating expenses are clean and predictable and zero HOA fees. Net operating income comes in at $75,400, with no special assessments, no board approvals, and no shared-amenity exposure to navigate.

The asset itself is purpose-built for premium rental performance and long-term tenant retention. Four bedrooms, three full bathrooms, 2,505 square feet under air on a 3,331-square-foot total footprint, with a private fenced backyard, in-ground pool, outdoor grill, and an attached two-car garage. Interior finishes are designed to command top-of-market rent: walnut cabinetry, quartz waterfall island, large-format porcelain tile, freestanding soaking tub, oversized walk-in shower, and backlit dual vanities throughout the primary suite. The property is positioned on a quiet cul-de-sac, insulating it from through-traffic and reinforcing its appeal to long-term tenants.

For investors, the underwrite is straightforward: a 2025 build means warranty coverage intact, minimal capex risk over the hold period, and lower insurance scrutiny than older South Florida inventory. The locked lease eliminates 12+ months of vacancy or turnover exposure. And the absence of HOA fees — increasingly rare in this market given the post-Surfside regulatory environment — protects net yield from the assessment shocks impacting comparable condo and association-governed product across Broward and Miami-Dade.

Priced at $1,225,000 ($489/SF under A/C). Suitable for 1031 exchange, portfolio addition, or hold-to-appreciation strategies.