Fenced Quadplex with
For Sale
$1,090,000
1432 NE 5th ave, Fort Lauderdale, FL 33304
Residential Income, Fort Lauderdale, FL
Property Size2,317 SF
Price / SF$470.44
Days on Market43
Property Features for 1432 NE 5th ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
RM-15
Bedrooms
3
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 1, Bathroom 2
Parking
5
Patio and Porch features
Porch
Exterior features
Fence, Porch
Fencing
Fenced
Subdivision
PROGRESSO
Lot features
< 1/4 Acre
Standard status
Active
APN
494234020590
Size
2,317 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
PROGRESSO 2-18 D LOT 21 BLK 56
Tax Annual Amount
8783
Legal Description
PROGRESSO 2-18 D LOT 21 BLK 56
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Wall Furnace
Cooling system
Wall/Window Unit(s), Central Air, Window Unit(s)
Water source
Public
Building Details
Year built
1965
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Barrel
Architectural style
Other
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Hamza Zafar · License #3626463
(561) 702-4465
Added: Jul 18
Changed: Aug 27
Last Checked: Aug 29 at 6:06PM
MLS# A12017563
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 2,317-square-foot quadplex contains four tenant-occupied residences, providing an operating multifamily configuration at closing. The 1965 property is built with block construction and includes tile flooring, fenced grounds, and porches. Heating is provided by central systems and wall furnaces, while cooling includes central air and wall or window units.
The property is located at 1432 NE 5th Ave in Fort Lauderdale, near Wilton Manors, Flagler Village, Las Olas Boulevard, Downtown Fort Lauderdale, and Fort Lauderdale Beach. I-95, Galleria Mall, Whole Foods, Publix, shopping, dining, nightlife, and major employment centers are also identified in the surrounding area. Public water and public sewer serve the property, with cable available.
The property is located at 1432 NE 5th Ave in Fort Lauderdale, near Wilton Manors, Flagler Village, Las Olas Boulevard, Downtown Fort Lauderdale, and Fort Lauderdale Beach. I-95, Galleria Mall, Whole Foods, Publix, shopping, dining, nightlife, and major employment centers are also identified in the surrounding area. Public water and public sewer serve the property, with cable available.
Key Highlights
- Four tenant‑occupied residences
- 2,317 square feet on a 0.05‑acre lot
- Block construction completed 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
$38,624
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
3.54%
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%
$772,480
$772.5K
Cap Rate 7%
$551,771
$551.8K
Cap Rate 9%
$429,156
$429.2K
Market Conditions
NOI Build-Up for 2,317 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
$58.4K $25.20/SF
− Vacancy
−$3.2K −$1.39/SF
EGI
$55.2K $23.81/SF
− OpEx
−$16.6K −$7.14/SF
NOI
$38.6K $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%
$772,480
Cap Rate 7%
$551,771
Cap Rate 9%
$429,156
Alternative Uses
Best Use
Multifamily LT 5
$551.8K
$482.8K – $643.7K
NOI $38,624 @ 7.0% cap · market cap 3.54%
Second Best
Apartment 5plus
$497.0K
$434.9K – $579.9K
NOI $34,793 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $108,992 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,606
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied residences offer existing tenancy, tile flooring, and access to public water and sewer.
Where is this quadplex located?
The property is located at 1432 NE 5th ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,090,000.
What are key features of this property?
This property features: Four tenant‑occupied residences; 2,317 square feet on a 0.05‑acre lot; Block construction completed in 1965
