Updated Triplex with Impact
1-3-219 Nw 40th Court, Oakland Park, FL 33309
For Sale
$699,900
Three leased apartments have separate electric meters, central air conditioning, and in-unit laundry.
Property Size2,097 SF
Price / SF$333.76
Days on Market16
Property Features for 1-3-219 Nw 40th Court
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
central A/C
washer and dryer
granite kitchen
impact windows
Building Details
Tenancy
Listing Agency:
Bank On It Realty
(954) 515-0030
Listed By:
Eugene J Schroeder · License #687483
(954) 816-4363
Source:
Exprealty
Added: Oct 23
Changed: Nov 6
Last Checked: Nov 6 at 3:48PM
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 Bank On It Realty
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Investment Insights
Based on property information with market context.
This 2,097-square-foot triplex contains three updated apartments: one 2-bedroom, 1-bath unit and two 1-bedroom, 1-bath units. All three are rented. Individual electrical meters serve the units, which include central A/C, washers and dryers, and kitchens with granite countertops. Impact windows are installed throughout.
The property is at 1-3-219 NW 40th Court in Oakland Park, Florida. Its unit mix and in-unit features are complemented by updated finishes in each apartment.
The property is at 1-3-219 NW 40th Court in Oakland Park, Florida. Its unit mix and in-unit features are complemented by updated finishes in each apartment.
Key Highlights
- 2,097‑square‑foot triplex with all three apartments rented
- Unit mix: one 2/1 and two 1/1 apartments
- Separate electrical meters for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,957
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$699,140
$699.1K
Cap Rate 7%
$499,386
$499.4K
Cap Rate 9%
$388,411
$388.4K
Market Conditions
NOI Build-Up for 2,097 SF
Gross rent
$52.8K $25.20/SF
− Vacancy
−$2.9K −$1.39/SF
EGI
$49.9K $23.81/SF
− OpEx
−$15.0K −$7.14/SF
NOI
$35.0K $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 Rate 5%
$699,140
Cap Rate 7%
$499,386
Cap Rate 9%
$388,411
Alternative Uses
Best Use
Multifamily LT 5
$499.4K
$437.0K – $582.6K
NOI $34,957 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$460.7K
$403.1K – $537.5K
NOI $32,250 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$1.06M
$930.9K – $1.24M
NOI $74,473 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,399
Businesses Nearby
Explore this area
Business Placement
Demographics for 33309, FL
37,642
Population
14,783
Households
2.5
Avg Household Size
39
Median Age
23%
College-Educated
85%
High-School Grad
9.7 sq mi
ZIP Area
3,881
Density / Sq Mi
$73,496
Median Household Income
$35,850
Median Earnings
$1,829
Median Rent
$309,100
Median Home Value
Market
Average Price Trend$/SF for Triplexes in Broward County, FL
Properties on Market for Triplexes in Broward County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three leased apartments have separate electric meters, central air conditioning, and in-unit laundry.
Where is this triplex located?
The property is located at 1-3-219 Nw 40th Court Oakland Park, FL.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 2,097‑square‑foot triplex with all three apartments rented; Unit mix: one 2/1 and two 1/1 apartments; Separate electrical meters for each apartment
