Two-Unit Duplex
For Sale
$799,000
1840 SW 24th Street, Fort Lauderdale, FL 33315
Residential Income, Fort Lauderdale, FL
Property Size1,912 SF
Lot Size0.15 Acres
Price / SF$417.89
Days on Market244
Property Features for 1840 SW 24th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
RML-25
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 4, Bathroom 3, Bedroom 1, Bathroom 2, Bedroom 2
Patio and Porch features
Patio, Deck
Exterior features
Built-in Barbecue, Custom Lighting, Outdoor Shower
Fencing
Fenced
Subdivision
F A BARRETTS SUB OF W1/2
Lot features
Room for Pool
Directions
Located East of I-95 and south of state rd 84 exit marina mile and head east in an area known as River Oaks
Standard status
Active
APN
504221010020
Size
1,912 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
F A BARRETTS SUB OF W1/2 OF 21-50-42 1-46D N 127.30 OF E 50 OF W 100 OF ALL OF THE FOLLOWING DESC PAR,W 70 OF E 110.48 O
Tax Annual Amount
10226
Legal Description
F A BARRETTS SUB OF W1/2 OF 21-50-42 1-46D N 127.30 OF E 50 OF W 100 OF ALL OF THE FOLLOWING DESC PAR,W 70 OF E 110.48 O
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Wall/Window Unit(s), Humidity Control, Electric, Window Unit(s)
Water source
Public
Building Details
Year built
1972
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Concrete, Stucco
Roof type
Composition
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Yvonne Plass · License #3402236
(561) 860-7053
Added: Jan 9
Changed: Sep 9
Last Checked: Sep 10 at 4:06AM
MLS# R11152984
Copyright © 2026 BeachesMLS. 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 two-unit duplex property contains 1,912 square feet on a 0.15-acre lot and was built in 1972. The improvements use concrete and stucco construction with ceramic tile flooring, electric heating, and window or wall/window cooling units. A deck, patio, built-in barbecue, outdoor shower, custom lighting, and fencing provide additional site features. The property may be offered furnished as shown and is identified as part of a twin-duplex package.
The Fort Lauderdale property is positioned near I-595 and I-95, with access to Fort Lauderdale-Hollywood International Airport, Port Everglades, marinas, hospitals, and employment centers. RML-25 zoning is in place, with public water, public sewer, and cable availability. The property condition is listed as under construction.
The Fort Lauderdale property is positioned near I-595 and I-95, with access to Fort Lauderdale-Hollywood International Airport, Port Everglades, marinas, hospitals, and employment centers. RML-25 zoning is in place, with public water, public sewer, and cable availability. The property condition is listed as under construction.
Key Highlights
- Two‑unit duplex with 1,912 square feet
- 0.15‑acre lot; built in 1972
- RML‑25 zoning with public water and public sewer
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
$31,873
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
3.99%
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%
$637,460
$637.5K
Cap Rate 7%
$455,329
$455.3K
Cap Rate 9%
$354,144
$354.1K
Market Conditions
NOI Build-Up for 1,912 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
$48.2K $25.20/SF
− Vacancy
−$2.7K −$1.39/SF
EGI
$45.5K $23.81/SF
− OpEx
−$13.7K −$7.14/SF
NOI
$31.9K $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%
$637,460
Cap Rate 7%
$455,329
Cap Rate 9%
$354,144
Alternative Uses
Best Use
Multifamily LT 5
$455.3K
$398.4K – $531.2K
NOI $31,873 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$410.2K
$358.9K – $478.5K
NOI $28,711 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,940 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
963
Businesses Nearby
Explore this area
Business Placement
Demographics for 33315, FL
13,555
Population
6,991
Households
1.9
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
5.3 sq mi
ZIP Area
2,558
Density / Sq Mi
$90,760
Median Household Income
$43,815
Median Earnings
$1,789
Median Rent
$492,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - RML-25 zoning, public utilities, and a fenced outdoor area add practical features for residential income use.
Where is this duplex located?
The property is located at 1840 SW 24th Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,912 square feet; 0.15‑acre lot; built in 1972; RML‑25 zoning with public water and public sewer
