Two-Building Triplex
For Sale
$692,890
1-3-1915 Sw 4th Ave, Fort Lauderdale, FL 33304
Two adjacent multifamily buildings combine six units with newer central air-conditioning systems and separately metered electric service.
Property Size2,082 SF
Price / SF$332.80
Days on Market26
Property Features for 1-3-1915 Sw 4th Ave
General Information
Standard status
Active
Size
2,082 SF
Property subtype
Residential Income
Units
Unit Mix
4 x 2BR/1BA, 2 x studio
Multifamily Units
6
Additional Details
Gross Income
$115,200
Taxes and HOA fees
Annual Taxes
$10,616
Building Details
Buildings
2
Listing Agency:
Fidelity Real Estate Group LLC
(954) 326-4868
Listed By:
Carlos Montoya · License #0623048
(954) 326-4868
Source:
Exprealty
Added: Aug 6
Changed: Aug 30
Last Checked: Aug 30 at 11:34PM
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 Fidelity Real Estate Group LLC
Investment Insights
Based on property information with market context.
This offering includes two adjoining triplex buildings that are being sold together. The combined configuration provides six residential units: four two-bedroom, one-bath apartments and two studio units. Each building is approximately 2,000+ square feet, with a reported property size of 2,082 square feet. Roofs are approximately 14+/- years old, while the central A/C systems are newer. Tenants are responsible for electric service.
The buildings are located on SW 4th Ave in Fort Lauderdale, near downtown, Las Olas, and Fort Lauderdale Beach. The six-unit layout provides a mix of larger apartments and studios within two neighboring structures. Current rents are identified as below market in the property information, with gross income estimates also provided there but excluded from this summary.
The buildings are located on SW 4th Ave in Fort Lauderdale, near downtown, Las Olas, and Fort Lauderdale Beach. The six-unit layout provides a mix of larger apartments and studios within two neighboring structures. Current rents are identified as below market in the property information, with gross income estimates also provided there but excluded from this summary.
Key Highlights
- Two adjacent triplex buildings offered together
- Six total units: four 2‑bedroom/1‑bath apartments and two studios
- Each building is approximately 2,000+ Sq. Ft.
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
$34,707
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
5.01%
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%
$694,140
$694.1K
Cap Rate 7%
$495,814
$495.8K
Cap Rate 9%
$385,633
$385.6K
Market Conditions
NOI Build-Up for 2,082 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
$52.5K $25.20/SF
− Vacancy
−$2.9K −$1.39/SF
EGI
$49.6K $23.81/SF
− OpEx
−$14.9K −$7.14/SF
NOI
$34.7K $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%
$694,140
Cap Rate 7%
$495,814
Cap Rate 9%
$385,633
Alternative Uses
Best Use
Multifamily LT 5
$495.8K
$433.8K – $578.5K
NOI $34,707 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$446.6K
$390.8K – $521.1K
NOI $31,264 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,937 @ 7.0% cap · market cap 14.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
7,743
Businesses Nearby
Explore this area
Business Placement
Demographics for 33304, FL
19,978
Population
12,367
Households
1.6
Avg Household Size
46
Median Age
51%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
6,445
Density / Sq Mi
$84,951
Median Household Income
$55,527
Median Earnings
$1,727
Median Rent
$556,400
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 - Two adjacent multifamily buildings combine six units with newer central air-conditioning systems and separately metered electric service.
Where is this triplex located?
The property is located at 1-3-1915 Sw 4th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $692,890.
What are key features of this property?
This property features: Two adjacent triplex buildings offered together; Six total units: four 2‑bedroom/1‑bath apartments and two studios; Each building is approximately 2,000+ Sq. Ft.
