Listing Agency: LPT Realty, LLC f***@lptrealty.com Show Phone

Listed By: Grisel M Arias · License #3151743 Show Phone

Source: Exprealty

Added: Apr 20 Changed: Oct 15 Last Checked: Oct 16 at 12:45PM

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Investment Insights

Based on property information with market context.

This Oakland Park duplex was built in 1980 with CBS construction and includes two residential units. Each unit has 2 BD, 1 BA, a laundry room, washer/dryer connections, privacy fencing, and a backyard. Unit A is leased on a month-to-month basis, while Unit B is vacant. Separate water and electric meters serve the units. Capital improvements include HVAC and a water heater installed in 2019, a new stove, and a well-water irrigation system with a new pump and motor installed in March 2026. Short-term rentals, including Airbnb and VRBO, are allowed, providing multiple operating options subject to applicable requirements.

The property is located at 1-2-121 NW 56th Ct in Oakland Park, with proximity to Wilton Manors, Fort Lauderdale Airport, and the beaches. The property may also be acquired within a larger portfolio that includes two single-family homes and a warehouse.

Key Highlights

• Two‑unit duplex built in 1980 with CBS construction
• Unit A leased month‑to‑month; Unit B vacant
• Short‑term rentals allowed, including Airbnb and VRBO

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,672

Cap Rate

4.43%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$553,440 $553.4K

Cap Rate 7%

$395,314 $395.3K

Cap Rate 9%

$307,467 $307.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,660 SF

Gross rent

$41.8K $25.20/SF

− Vacancy

−$2.3K −$1.39/SF

EGI

$39.5K $23.81/SF

− OpEx

−$11.9K −$7.14/SF

NOI

$27.7K $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 Rate 5%

$553,440

Cap Rate 7%

$395,314

Cap Rate 9%

$307,467

Alternative Uses

Best Use

Multifamily LT 5

$395.3K

$345.9K – $461.2K (±1% cap)

NOI $27,672 @ 7.0% cap · market cap 4.43%

Second Best

Apartment 5plus

$364.7K

$319.1K – $425.5K (±1% cap)

NOI $25,530 @ 7.0% cap · market cap 4.08%

Theoretical Best

Office A

$842.2K

$736.9K – $982.6K (±1% cap)

NOI $58,953 @ 7.0% cap · market cap 9.43%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Daycare Center (Bike/Boat/Book/etc) Store Catering Service Fish Market Locksmith Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,697

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - CBS duplex with separate utilities, private outdoor areas, and one vacant unit ready for occupancy or leasing.

Where is this duplex located?

The property is located at 1-2-121 Nw 56th Ct Oakland Park, FL.

What is the asking price?

The asking price for this property is $625,000.

What are key features of this property?

This property features: Two‑unit duplex built in 1980 with CBS construction; Unit A leased month‑to‑month; Unit B vacant; Short‑term rentals allowed, including Airbnb and VRBO