Fully Rented Quadplex
For Sale
$1,200,000
1204 NE 5th Ave, Fort Lauderdale, FL 33304
MULTI_FAMILY - Other - Fort Lauderdale, FL
Property Size2,660 SF
Price / SF$451.13
Days on Market76
Property Features for 1204 NE 5th Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
RMM-25
Bedrooms
5
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 4, Bedroom 1, Bedroom 5
Parking
8
Subdivision
PROGRESSO
Lot features
< 1/4 Acre
Standard status
Active
APN
494234032140
Size
2,660 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
PROGRESSO 2-18 D LOT 27 & 28 BLK 114
Tax Annual Amount
13057
Legal Description
PROGRESSO 2-18 D LOT 27 & 28 BLK 114
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s)
Building Details
Year built
1965
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
Beachfront Realty Inc
(305) 405-0615
Listed By:
Chaim Glik · License #3265723
(786) 344-3207
Added: Jun 2
Changed: Aug 13
Last Checked: Aug 16 at 1:06AM
MLS# A11868988
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully rented quadplex offers four rental units in a block construction building. The property totals 2,660 SF and features ceramic tile flooring. Cooling is provided via window unit(s) and wall/window unit(s), and the roof is shingle.
Three of the units have been renovated, including new kitchens, upgraded lighting, and new cabinets, along with ceramic tile flooring throughout. Utilities include cable availability, and the building is served by public sewer.
Located in Fort Lauderdale, the property is described as minutes from downtown Fort Lauderdale and major plazas and shopping centers, supporting convenient everyday access for residents.
Three of the units have been renovated, including new kitchens, upgraded lighting, and new cabinets, along with ceramic tile flooring throughout. Utilities include cable availability, and the building is served by public sewer.
Located in Fort Lauderdale, the property is described as minutes from downtown Fort Lauderdale and major plazas and shopping centers, supporting convenient everyday access for residents.
Key Highlights
- Fully rented four‑unit quadplex building
- 2,660 SF building with ceramic tile flooring
- Block construction built in 1965
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$44,342
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$886,840
$886.8K
Cap Rate 7%
$633,457
$633.5K
Cap Rate 9%
$492,689
$492.7K
Market Conditions
NOI Build-Up for 2,660 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$67.0K $25.20/SF
− Vacancy
−$3.7K −$1.39/SF
EGI
$63.3K $23.81/SF
− OpEx
−$19.0K −$7.14/SF
NOI
$44.3K $16.67/SF
Area
Fort Lauderdale, FL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$886,840
Cap Rate 7%
$633,457
Cap Rate 9%
$492,689
Alternative Uses
Best Use
Multifamily LT 5
$633.5K
$554.3K – $739.0K
NOI $44,342 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$570.6K
$499.3K – $665.7K
NOI $39,943 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$1.79M
$1.56M – $2.09M
NOI $125,126 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
5,287
Businesses Nearby
Explore this area
Business Placement
Demographics for 33304, FL
19,978
Population
12,367
Households
1.6
Avg Household Size
46
Median Age
51%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
6,445
Density / Sq Mi
$84,951
Median Household Income
$55,527
Median Earnings
$1,727
Median Rent
$556,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit block building built in 1965 with ceramic tile flooring and window or wall AC, fully rented.
Where is this quadplex located?
The property is located at 1204 NE 5th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Fully rented four‑unit quadplex building; 2,660 SF building with ceramic tile flooring; Block construction built in 1965
