Tenant-Occupied
For Sale
$600,000
1004 SW 24th Ave, Fort Lauderdale, FL 33312
Residential Income, Fort Lauderdale, FL
Property Size1,620 SF
Price / SF$370.37
Days on Market58
Property Features for 1004 SW 24th Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RS-8
Bedrooms
4
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 2
Parking
4
Window features
Blinds
Patio and Porch features
Patio
Exterior features
Patio
Subdivision
HOOSIER HEIGHTS
Lot features
< 1/4 Acre
Standard status
Active
APN
504208070390
Size
1,620 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
HOOSIER HEIGHTS 26-47 B LOT 21 BLK 1
Tax Annual Amount
8763
Legal Description
HOOSIER HEIGHTS 26-47 B LOT 21 BLK 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Amenities
laundry room
Building Details
Year built
1955
Floors in Building
1
Flooring type
Laminate
Building materials
Block
Roof type
Tar/Gravel
Listing Agency:
Canvas Real Estate
(954) 282-6350
Listed By:
Gissella Mariategui · License #3374523
(754) 422-1831
Added: Aug 5
Changed: Sep 12
Last Checked: Oct 1 at 4:06PM
MLS# A12064989
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,620-square-foot duplex contains two 2-bedroom, 1-bath units, each with a dedicated laundry room. Both residences are tenant occupied. The property includes patios, block construction, laminate flooring, electric heating, wall/window and window unit cooling, public sewer, and cable availability. A tar/gravel roof was replaced in 2025.
Located in Fort Lauderdale near I-95 and Davie Blvd, the property is also close to shopping, dining, and other local amenities. The existing two-unit configuration, individual laundry rooms, and current occupancy provide a straightforward residential income property layout.
Located in Fort Lauderdale near I-95 and Davie Blvd, the property is also close to shopping, dining, and other local amenities. The existing two-unit configuration, individual laundry rooms, and current occupancy provide a straightforward residential income property layout.
Key Highlights
- Two 2‑bedroom, 1‑bath units
- 1,620 square feet of total property size
- Both units are tenant occupied
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
$27,005
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
4.50%
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%
$540,100
$540.1K
Cap Rate 7%
$385,786
$385.8K
Cap Rate 9%
$300,056
$300.1K
Market Conditions
NOI Build-Up for 1,620 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
$40.8K $25.20/SF
− Vacancy
−$2.2K −$1.39/SF
EGI
$38.6K $23.81/SF
− OpEx
−$11.6K −$7.14/SF
NOI
$27.0K $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%
$540,100
Cap Rate 7%
$385,786
Cap Rate 9%
$300,056
Alternative Uses
Best Use
Multifamily LT 5
$385.8K
$337.6K – $450.1K
NOI $27,005 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$347.5K
$304.1K – $405.4K
NOI $24,326 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$1.09M
$952.6K – $1.27M
NOI $76,205 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
838
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two residential units offer separate laundry rooms, patios, and existing occupancy in Fort Lauderdale.
Where is this duplex located?
The property is located at 1004 SW 24th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units; 1,620 square feet of total property size; Both units are tenant occupied
