Contemporary 8-Unit Apartment
For Sale
$1,750,000
Pending
100 SE 21st #1-8, Fort Lauderdale, FL 33316
Eight 2-story units with private entrances, patios or balconies, and central A/C, plus on-site laundry and parking.
Property Size5,104 SF
Lot Size0.33 Acres
Days on Market189
Property Features for 100 SE 21st #1-8
General Information
Standard status
Pending
Size
5,104 SF
Total Parking Spaces
12
Lot size
0.33 Acres
Property subtype
Commercial
Occupancy
100%
Additional Details
Cap Rate
6%
Highway Access
Yes
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$18,800
Amenities
Central air
Assigned
Central Air Cooling
Central Heating
Fence
Tile Flooring
Building Details
Year Built
1977
Stories
2
Tenancy
Multi
Listing Agency:
ONE SOTHEBY'S INT'L REALTY
Listed By:
HENRI F VEZIE · License #F10540017
(954) 465-6615
Source:
Corcoran
Added: Feb 26
Changed: Aug 8
Last Checked: Sep 2 at 5:50PM
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 ONE SOTHEBY'S INT'L REALTY
Investment Insights
Based on property information with market context.
This contemporary, two-story apartment complex was built in 1978 and contains eight total units, including one 2/1 and seven 1/1 floor plans. Each unit features a private entrance and outdoor space with either a patio or a balcony. Central A/C is provided throughout the community. The property includes 12 parking spaces for guest and assigned use, and an on-site laundry facility that generates income.
The units are all on month-to-month terms. The complex sits on a 14,300 square foot lot with 5,104 square feet of air-conditioned space. The surrounding area is described as being within minutes of beaches, restaurants, shops, groceries, and the expressway, supporting convenient day-to-day access for residents.
For buyers seeking a small multifamily asset with direct resident access, this 8-unit configuration offers a mix of 2-bedroom and studio-style one-bedroom layouts, with outdoor space and central climate control in each unit. Month-to-month tenancy can provide flexibility for future operators, while the on-site laundry facility supports an additional revenue stream alongside the residential units. Minimal expense is noted, including low landscape maintenance.
The units are all on month-to-month terms. The complex sits on a 14,300 square foot lot with 5,104 square feet of air-conditioned space. The surrounding area is described as being within minutes of beaches, restaurants, shops, groceries, and the expressway, supporting convenient day-to-day access for residents.
For buyers seeking a small multifamily asset with direct resident access, this 8-unit configuration offers a mix of 2-bedroom and studio-style one-bedroom layouts, with outdoor space and central climate control in each unit. Month-to-month tenancy can provide flexibility for future operators, while the on-site laundry facility supports an additional revenue stream alongside the residential units. Minimal expense is noted, including low landscape maintenance.
Key Highlights
- 8‑unit, 2‑story apartment complex built in 1977 with 1 unit 2/1 and 7 units 1/1
- All units have private entrances plus patios and/or balconies and include central A/C
- Total 5,104 SF under air on a 14,300 SF lot, with 12 parking spaces (guest and assigned)
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
$76,643
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
4.38%
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%
$1,532,860
$1.5M
Cap Rate 7%
$1,094,900
$1.1M
Cap Rate 9%
$851,589
$851.6K
Market Conditions
NOI Build-Up for 5,104 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
$147.0K $28.80/SF
− Vacancy
−$7.6K −$1.50/SF
EGI
$139.4K $27.30/SF
− OpEx
−$62.7K −$12.29/SF
NOI
$76.6K $15.02/SF
Area
Fort Lauderdale, FL
Vacancy
5.20%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,532,860
Cap Rate 7%
$1,094,900
Cap Rate 9%
$851,589
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$958.0K – $1.28M
NOI $76,643 @ 7.0% cap · market cap 4.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.43M
$3.00M – $4.00M
NOI $240,092 @ 7.0% cap · market cap 13.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,960
Businesses Nearby
Explore this area
Business Placement
Demographics for 33316, FL
12,669
Population
8,946
Households
1.4
Avg Household Size
50
Median Age
54%
College-Educated
95%
High-School Grad
4.1 sq mi
ZIP Area
3,090
Density / Sq Mi
$89,200
Median Household Income
$52,992
Median Earnings
$2,047
Median Rent
$793,500
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?
Apartment building - Eight 2-story units with private entrances, patios or balconies, and central A/C, plus on-site laundry and parking.
Where is this apartment building located?
The property is located at 100 SE 21st #1-8 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 8‑unit, 2‑story apartment complex built in 1977 with 1 unit 2/1 and 7 units 1/1; All units have private entrances plus patios and/or balconies and include central A/C; Total 5,104 SF under air on a 14,300 SF lot, with 12 parking spaces (guest and assigned)
