Brick Duplex with Central
For Sale
$615,000
Pending
883 NE 33rd Street, Oakland Park, FL 33334
MULTI_FAMILY - Oakland Park, FL
Property Size1,500 SF
Days on Market182
Property Features for 883 NE 33rd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-1
Bedrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 1, Bathroom 1, Bedroom 3
Subdivision
Oakland Park Second Add 1
Standard status
Pending
APN
494223052910
Size
1,500 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
OAKLAND PARK SECOND ADD 1-39 B LOT 24 BLK 59
Tax Annual Amount
13500
Legal Description
OAKLAND PARK SECOND ADD 1-39 B LOT 24 BLK 59
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric, Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
1958
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Brick
Roof type
Shingle, Composition
Listing Agency:
United Realty Group Inc
(954) 450-2000
Listed By:
Jeff Bourdeau · License #3592770
(561) 729-9115
Added: Feb 12
Changed: Aug 11
Last Checked: Aug 13 at 12:06AM
MLS# F10551717
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.
Brick duplex built in 1958 with tile flooring, electric heating, and central air conditioning. The property has a newer roof less than 5 years old, along with recent interior upgrades.
Unit A is a 2 bed, 2 bath layout featuring stainless steel appliances, granite countertops, and vinyl flooring. The refrigerator is less than 5 years old, and the second bedroom offers a walk-in closet. A washer and dryer are located in the unit.
Unit B is a 1 bed, 1 bath layout and is owner-occupied. The remodeled kitchen includes brand-new appliances, quartz countertops, and ceramic tile floors, and washer/dryer are also included in the unit. Public water and public sewer serve the property, with cable available.
Zoned R-1, the duplex offers two separate residences under one roof with in-unit laundry in both units.
Unit A is a 2 bed, 2 bath layout featuring stainless steel appliances, granite countertops, and vinyl flooring. The refrigerator is less than 5 years old, and the second bedroom offers a walk-in closet. A washer and dryer are located in the unit.
Unit B is a 1 bed, 1 bath layout and is owner-occupied. The remodeled kitchen includes brand-new appliances, quartz countertops, and ceramic tile floors, and washer/dryer are also included in the unit. Public water and public sewer serve the property, with cable available.
Zoned R-1, the duplex offers two separate residences under one roof with in-unit laundry in both units.
Key Highlights
- Duplex built in 1958 with brick exterior and tile flooring
- Newer roof less than 5 years old
- Central air plus electric heating with ceiling fans
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
$25,005
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
4.07%
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%
$500,100
$500.1K
Cap Rate 7%
$357,214
$357.2K
Cap Rate 9%
$277,833
$277.8K
Market Conditions
NOI Build-Up for 1,500 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
$37.8K $25.20/SF
− Vacancy
−$2.1K −$1.39/SF
EGI
$35.7K $23.81/SF
− OpEx
−$10.7K −$7.14/SF
NOI
$25.0K $16.67/SF
Area
Broward County, 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%
$500,100
Cap Rate 7%
$357,214
Cap Rate 9%
$277,833
Alternative Uses
Best Use
Multifamily LT 5
$357.2K
$312.6K – $416.8K
NOI $25,005 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$329.6K
$288.4K – $384.5K
NOI $23,069 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$761.0K
$665.9K – $887.9K
NOI $53,271 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,201
Businesses Nearby
Explore this area
Business Placement
Demographics for 33334, FL
30,138
Population
14,314
Households
2.1
Avg Household Size
44
Median Age
33%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,279
Density / Sq Mi
$69,512
Median Household Income
$36,895
Median Earnings
$1,615
Median Rent
$430,500
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?
Duplex - Well-maintained brick duplex with central air, electric heat, and updated interiors in Oakland Park’s R-1 zoning.
Where is this duplex located?
The property is located at 883 NE 33rd Street Oakland Park, FL.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Duplex built in 1958 with brick exterior and tile flooring; Newer roof less than 5 years old; Central air plus electric heating with ceiling fans
