Triplex with Remodeled
For Sale
$605,000
715 NW 15TH Terrace, Fort Lauderdale, FL 33311
Residential Income, Fort Lauderdale, FL
Property Size1,853 SF
Lot Size0.13 Acres
Price / SF$326.50
Days on Market10
Property Features for 715 NW 15TH Terrace
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
RC-15
Bedrooms
6
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 5, Bedroom 6, Bedroom 1
Subdivision
CARVER PARK
Elementary school
Sunland Park Academy
Middle school
Parkway
High school
Fort Lauderdale
Standard status
Active
APN
504204280260
Size
1,853 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CARVER PARK 19-21 B LOT 16 BLK 2
Tax Annual Amount
10760
Legal Description
CARVER PARK 19-21 B LOT 16 BLK 2
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s), Electric, Wall/Window Unit(s)
Water source
Public
Amenities
patio areas
washer/dryer
Building Details
Year built
1961
Floors in Building
1
Number of units
3
Flooring type
Tile, Wood
Building materials
CBS, Stucco
Roof type
Shingle
Listing Agency:
Brookfield Executive Real Esta
(954) 951-9344
Listed By:
Devin M Ruiz · License #3318029
(954) 429-5649
Added: Aug 20
Changed: Aug 27
Last Checked: Aug 29 at 10:06AM
MLS# B26066396
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 Fort Lauderdale triplex contains 1,853 square feet across three tenant-occupied units, with each residence offering two bedrooms and one bathroom. The units share the same floor plan and include living areas, kitchens, bedrooms, and bathrooms. Patio areas with washer-dryer setups serve each unit, while the bathrooms have been newly remodeled.
Built in 1961 on a 0.13-acre parcel, the property is zoned RC-15 and uses CBS and stucco construction. Interior finishes include tile and wood flooring. Cooling is provided by window or wall/window units. The property is connected to public water and public sewer, and a new shingle roof installation is identified for 2026.
Built in 1961 on a 0.13-acre parcel, the property is zoned RC-15 and uses CBS and stucco construction. Interior finishes include tile and wood flooring. Cooling is provided by window or wall/window units. The property is connected to public water and public sewer, and a new shingle roof installation is identified for 2026.
Key Highlights
- Three tenant‑occupied 2‑bedroom, 1‑bath units
- 1,853 square feet on a 0.13‑acre parcel
- Same floor plan across all three units
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
$30,889
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
5.11%
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%
$617,780
$617.8K
Cap Rate 7%
$441,271
$441.3K
Cap Rate 9%
$343,211
$343.2K
Market Conditions
NOI Build-Up for 1,853 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
$46.7K $25.20/SF
− Vacancy
−$2.6K −$1.39/SF
EGI
$44.1K $23.81/SF
− OpEx
−$13.2K −$7.14/SF
NOI
$30.9K $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%
$617,780
Cap Rate 7%
$441,271
Cap Rate 9%
$343,211
Alternative Uses
Best Use
Multifamily LT 5
$441.3K
$386.1K – $514.8K
NOI $30,889 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$397.5K
$347.8K – $463.8K
NOI $27,825 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,165 @ 7.0% cap · market cap 14.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
955
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
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?
Triplex - Three tenant-occupied residences include patios and individual washer-dryer setups.
Where is this triplex located?
The property is located at 715 NW 15TH Terrace Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $605,000.
What are key features of this property?
This property features: Three tenant‑occupied 2‑bedroom, 1‑bath units; 1,853 square feet on a 0.13‑acre parcel; Same floor plan across all three units
