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    1920 S Ocean Dr, Unit 304 Fort Lauderdale, FL 33316

    View on Map
    Sponsored
    For Sale
    $255,900

    MULTI_FAMILY - Fort Lauderdale, FL

    Property size:
    805 SF
    Days on Market:
    9
    Last Refresh:
    Mar 26 at 1:06 pm

    Property Features for 1920 S Ocean Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security System
    Rooms
    Bathroom 1, Laundry Room, Bedroom 1
    Bedrooms
    1
    Bathrooms
    1
    APN
    504213NR0190
    Parking features
    Carport, Open, Garage - Attached, Garage
    Interior features
    Elevator, Storage
    Exterior features
    Balcony, Barbecue
    Accessibility
    Accessible Elevator Installed
    Appliances
    Electric Water Heater, Electric Range, Refrigerator, Water Heater
    Size
    805 SF

    Taxes and HOA fees

    Expense value
    150
    Expense
    Application Fee
    Expense freq.
    One Time

    Utilities

    Utilities
    Cable Available
    Cooling system
    Wall/Window Unit(s), Ceiling Fan(s), Window Unit(s)
    Water front features
    Beach Access

    Building Details

    Year built
    1961
    Flooring type
    Tile - Ceramic
    Building materials
    Block, CBS
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Robert W Kelsey

    Sea Island Realty Inc

    Listing agent Robert W Kelsey License #3025731

    Listing date Mar 18, 2026

    MLS# F10538119

    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.

    Learn more

    Property Insight Report

    Overview

    Fort Lauderdale Multi-Family Opportunity

    This multi-family property is located adjacent to Fort Lauderdale's widest and most private beach, approximately 200 yards away via a sandy walkway. The location offers views of cruise ships, mega yachts, and cargo ships. Situated in the Harbour Inlet area, this high-end tropical enclave is in a quiet part of old Fort Lauderdale with no through traffic. It is located across the Intercoastal Waterway from Port Everglades and is close to the airport, Las Olas, and shopping and dining options. The property features a 24/7 concierge front desk and a newly renovated common area. Residents can enjoy a garden area with a heated pool and sundeck, as well as a new in-house gym and bike room. The area is suitable for walking, running, or biking, with easy access to nightlife and activities in Fort Lauderdale. The property is move-in ready and located in a quiet, exclusive part of Old Ft Lauderdale, with high-end shopping and restaurants on nearby Las Olas, Marina Village, and Pier 66. The property is a short Uber ride to air and sea ports, with Miami located 35 miles south and Palm Beach 35 miles north. The property size is 805 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Atlantic Towers Corporation Condominium Complex

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Food Market Gym & Fitness Center Skin Care Clinic Pharmacy Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.108605
    Latitude
    26.097184

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    FAQs

    What type of property is this?
    Residential income property - Multi-family property near Fort Lauderdale's private beach.
    Where is this residential income property located?
    The property is located at 1920 S Ocean Dr, Unit 304 Fort Lauderdale, FL.
    What is the asking price?
    The asking price for this property is $255,900.
    What are key features of this property?
    This property features: - Private beach access via a 200-yard walkway to Fort Lauderdale's widest beach.; - Prime location in a quiet, exclusive area of Old Ft Lauderdale, close to Las Olas, shopping, and dining.; - 24/7 Concierge front desk and newly renovated common areas.
    (954) 464-9200
    Request Owner's contact information
    1920 S Ocean Dr, Unit 304 Fort Lauderdale, FL 33316
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    Fort Lauderdale, FL 33316
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1920 S Ocean Dr, Unit 304 Fort Lauderdale, FL 33316
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    Listing Contact
    Robert W Kelsey
    Real Estate License ID: 3025731
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