Fort Lauderdale Multifamily Investment
1325/1329/1333 NE 5th Terrace Fort Lauderdale, FL
1325/1329/1333 NE 5th Terrace, Fort Lauderdale, FL
$2,295,000
For Sale
$2,295,000
MULTI_FAMILY - Fort Lauderdale, FL
Property Size6,458 SF
Lot Size0.46 Acres
Price / SF$355.37
Days on Market66
Property Features for 1325/1329/1333 NE 5th Terrace
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RM-15
- Parking
- 14
- Standard status
- Active
- APN
- 494234ea0010
- Size
- 6,458 SF
- Lot size
- 0.46 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- THE HEMINGWAY AT MIDDLE RIVER TERRACE CONDO UNIT 01 BLDG 1325 PER CDO BK/PG: 44379/4
- Tax Annual Amount
- 38800
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1948
- Floors in Building
- 1
- Number of units
- 11
- Flooring type
- Laminate, Wood, Tile - Ceramic
- Building materials
- Block, Stucco
- Roof type
- Shingle
Listing Agency
Compass Florida, LLC
(954) 477-7332
1200 E Las Olas Blvd Ste 102, Miami Beach, FL
Listed by
Richard N Salter · License #0703927
(954) 812-4801
Added: May 14 Checked: Jul 18 at 11:06 am
MLS# B26028545
Listing URL
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.
The Hemingway at Middle River Terrace is an eleven-unit apartment building located in east Fort Lauderdale. The property is fully occupied and offers convenient access to various city amenities. Situated on a lot of just under 0.46 acres, the property comprises three separate buildings. The unit mix includes nine one-bedroom, one-bathroom units, one two-bedroom, one-bathroom unit, and one two-bedroom, two-bathroom unit. The area is experiencing new residential construction, with additional developments planned for the future. The neighborhood is desirable due to its affordable rents and proximity to downtown, the airport, the port, and major highways. Some units have been fully renovated, and most have been updated within the last five years. All three buildings feature new roofs, and impact windows and doors are installed throughout. The property is fully fenced and gated. The units currently have individual deeds and can be sold off individually as condominiums. The property is zoned RM-15.
Key Highlights
- 11‑unit apartment building (3 separate buildings) on a large lot of just under 1/2 acre
- Unit mix: 9 studio (1/1), one 2/1, and one 2/2; property is fully occupied
- Multiple unit updates within the last 5 years, with some units fully renovated
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $186.0k | $28.80 |
| − Vacancy | −$9.7k | −$1.50 |
| EGI | $176.3k | $27.30 |
| − OpEx | −$79.3k | −$12.29 |
| NOI | $97.0k | $15.02 |
6,458 SF · lease $28.80/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.39M
$1.21M – $1.62M
NOI $96,975 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.34M
$3.80M – $5.06M
NOI $303,784 @ 7.0% cap · market cap 13.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Eleven-unit apartment building in east Fort Lauderdale, fully occupied.
Where is this apartment building located?
The property is located at 1325/1329/1333 NE 5th Terrace Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: 11‑unit apartment building (3 separate buildings) on a large lot of just under 1/2 acre; Unit mix: 9 studio (1/1), one 2/1, and one 2/2; property is fully occupied; Multiple unit updates within the last 5 years, with some units fully renovated
