Duplex Residential Income
For Sale
$799,000
1850 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 Market421
Property Features for 1850 SW 24th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RML-25
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 3, Bathroom 4, Bathroom 3, Bedroom 1
Patio and Porch features
Patio
Exterior features
Barbecue
Subdivision
F A BARRETTS SUB OF W1/2
Standard status
Active
APN
504221010026
Size
1,912 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
F A BARRETTS SUB OF W1/2 OF 21-50-42 1-46 D N 127.30 OF W 50 OF ALL OF THE FOLLOWING DESC PAR,W 70 OF E 110.48 OF LOT 1
Tax Annual Amount
9983
Legal Description
F A BARRETTS SUB OF W1/2 OF 21-50-42 1-46 D N 127.30 OF W 50 OF ALL OF THE FOLLOWING DESC PAR,W 70 OF E 110.48 OF LOT 1
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1971
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Block, Concrete
Roof type
Composition
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Yvonne Plass · License #3402236
(561) 860-7053
Added: Jul 17, 2025
Changed: Sep 9
Last Checked: Sep 10 at 4:06AM
MLS# R11109179
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 duplex residential income property offers a two-unit configuration within a single site, totaling 1,912 square feet. It is listed for sale on an approximately 0.15-acre lot and is governed by RML-25 zoning.
The property is located at 1850 SW 24th Street in Fort Lauderdale, FL 33315, in Broward County. The listing includes the site size and total building size, supporting straightforward evaluation for buyers focused on residential income use.
For investors or owner-occupants seeking a duplex structure, the existing two-unit setup and RML-25 zoning profile can help align the asset with residential income objectives. Buyers can review the property’s total square footage and lot size as part of their underwriting, including planning for occupancy and any updates needed to support their specific operating plan. As presented, the listing provides key fundamentals for due diligence on a residential income duplex in Fort Lauderdale.
The property is located at 1850 SW 24th Street in Fort Lauderdale, FL 33315, in Broward County. The listing includes the site size and total building size, supporting straightforward evaluation for buyers focused on residential income use.
For investors or owner-occupants seeking a duplex structure, the existing two-unit setup and RML-25 zoning profile can help align the asset with residential income objectives. Buyers can review the property’s total square footage and lot size as part of their underwriting, including planning for occupancy and any updates needed to support their specific operating plan. As presented, the listing provides key fundamentals for due diligence on a residential income duplex in Fort Lauderdale.
Key Highlights
- Block and concrete construction with tile flooring and central heating
- Central air cooling with electric HVAC
- Public water and public sewer available
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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Open Analytics
Current Use
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property offered for sale with RML-25 zoning in Fort Lauderdale.
Where is this duplex located?
The property is located at 1850 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: Block and concrete construction with tile flooring and central heating; Central air cooling with electric HVAC; Public water and public sewer available
