Quadplex With Diverse Unit
For Sale
$784,750
1-4-124 Nw 21st Ct, Wilton Manors, FL
Four-unit property with separately metered electric and flexible month-to-month occupancy across three residences.
Property Size2,376 SF
Price / SF$330.28
Days on Market16
Property Features for 1-4-124 Nw 21st Ct
General Information
Standard status
Active
Size
2,376 SF
Property subtype
Residential Income
Occupancy
75%
Units
Unit Mix
2 x 1BR/1BA, 1 x 1BR/1BA (larger), 1 x studio
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$17,022
Building Details
Tenancy
Multi
Listing Agency:
LoKation
(612) 889-2535
Listed By:
Gavin Payne · License #3621622
(612) 889-2535
Source:
Exprealty
Added: Jul 28
Changed: Aug 9
Last Checked: Aug 11 at 11:21AM
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 LoKation
Investment Insights
Based on property information with market context.
This quadplex contains 2,376 square feet and offers a varied residential configuration: two matching one-bedroom, one-bath units, a larger one-bedroom, one-bath unit, and a studio. Electric service is separately metered for each residence. One unit is vacant and undergoing renovation, while the remaining three units have month-to-month leases in place.
The property is located at 1-4-124 NW 21st Ct in Wilton Manors, within the Fort Lauderdale area. Existing occupancy and the current renovation create a mixed operating profile for the next owner, with leased and vacant units present at closing. Showings require an appointment, with 24-hour notice for tenant-occupied units.
The property is located at 1-4-124 NW 21st Ct in Wilton Manors, within the Fort Lauderdale area. Existing occupancy and the current renovation create a mixed operating profile for the next owner, with leased and vacant units present at closing. Showings require an appointment, with 24-hour notice for tenant-occupied units.
Key Highlights
- 2,376‑square‑foot quadplex at 1‑4‑124 NW 21st Ct
- Unit mix includes two 1BR/1BA units, one larger 1BR/1BA unit, and a studio
- All units have separate electric meters
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
$39,607
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
5.05%
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%
$792,140
$792.1K
Cap Rate 7%
$565,814
$565.8K
Cap Rate 9%
$440,078
$440.1K
Market Conditions
NOI Build-Up for 2,376 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
$59.9K $25.20/SF
− Vacancy
−$3.3K −$1.39/SF
EGI
$56.6K $23.81/SF
− OpEx
−$17.0K −$7.14/SF
NOI
$39.6K $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%
$792,140
Cap Rate 7%
$565,814
Cap Rate 9%
$440,078
Alternative Uses
Best Use
Multifamily LT 5
$565.8K
$495.1K – $660.1K
NOI $39,607 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$522.0K
$456.8K – $609.0K
NOI $36,541 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$1.21M
$1.05M – $1.41M
NOI $84,381 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,792
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with separately metered electric and flexible month-to-month occupancy across three residences.
Where is this quadplex located?
The property is located at 1-4-124 Nw 21st Ct Wilton Manors, FL.
What is the asking price?
The asking price for this property is $784,750.
What are key features of this property?
This property features: 2,376‑square‑foot quadplex at 1‑4‑124 NW 21st Ct; Unit mix includes two 1BR/1BA units, one larger 1BR/1BA unit, and a studio; All units have separate electric meters
