Renovated Two-Unit
For Sale
$639,000
Pending
1-2-2710 Nw 24th Ave, Oakland Park, FL 33312
Each residence combines an open-concept layout with updated fixtures and contemporary interior finishes.
Property Size1,793 SF
Days on Market142
Property Features for 1-2-2710 Nw 24th Ave
General Information
Standard status
Pending
Size
1,793 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,978
Listing Agency:
Time Realty Corp
(305) 731-1867
Listed By:
Sherlie Danmervil
(305) 731-1867
Source:
Exprealty
Added: Mar 24
Changed: Aug 5
Last Checked: Aug 12 at 1:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Time Realty Corp
Investment Insights
Based on property information with market context.
This renovated duplex in Oakland Park contains two residential units, each configured with 2 bedrooms and 2 full bathrooms. The interiors feature white tile flooring, gray paint, upgraded fixtures, and contemporary finishes, while open-concept layouts create an efficient sense of space. Each unit measures 900 square feet.
The property is located at 1-2-2710 NW 24th Ave in Oakland Park, Florida. Its two-unit configuration supports residential occupancy by tenants or owner-occupants, subject to applicable requirements.
The property is located at 1-2-2710 NW 24th Ave in Oakland Park, Florida. Its two-unit configuration supports residential occupancy by tenants or owner-occupants, subject to applicable requirements.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 2 full bathrooms in each unit
- 900 square feet per unit
- Renovated interiors with white tile flooring and gray paint
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
$29,889
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
4.68%
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%
$597,780
$597.8K
Cap Rate 7%
$426,986
$427.0K
Cap Rate 9%
$332,100
$332.1K
Market Conditions
NOI Build-Up for 1,793 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
$45.2K $25.20/SF
− Vacancy
−$2.5K −$1.39/SF
EGI
$42.7K $23.81/SF
− OpEx
−$12.8K −$7.14/SF
NOI
$29.9K $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%
$597,780
Cap Rate 7%
$426,986
Cap Rate 9%
$332,100
Alternative Uses
Best Use
Multifamily LT 5
$427.0K
$373.6K – $498.2K
NOI $29,889 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$393.9K
$344.7K – $459.6K
NOI $27,575 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$909.7K
$796.0K – $1.06M
NOI $63,677 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
991
Businesses Nearby
Explore this area
Business Placement
Demographics for 33312, FL
51,570
Population
21,332
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
86%
High-School Grad
11.1 sq mi
ZIP Area
4,646
Density / Sq Mi
$77,644
Median Household Income
$39,333
Median Earnings
$1,566
Median Rent
$397,800
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 - Each residence combines an open-concept layout with updated fixtures and contemporary interior finishes.
Where is this duplex located?
The property is located at 1-2-2710 Nw 24th Ave Oakland Park, FL.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 2 full bathrooms in each unit; 900 square feet per unit; Renovated interiors with white tile flooring and gray paint
