Renovated Five-Unit Apartment
New
For Sale
$1,550,000
1017 14th Ave, Fort Lauderdale, FL 33304
Renovated, furnished apartments with shared laundry, outdoor amenities, and on-site parking in Fort Lauderdale.
Property Size6,740 SF
Price / SF$229.97
Days on Market4
Property Features for 1017 14th Ave
General Information
Standard status
Active
Size
6,740 SF
Property subtype
General Commercial
Occupancy
100%
Units
Unit Mix
3 x 1BR/1BA, 1 x 2BR/1BA, 1 x studio
Multifamily Units
5
Additional Details
Furnished
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$19,135
Amenities
patio
common laundry room
bbq area
CCTV surveillance
smart locks
3
5 Parking Spaces.
Building Details
Year Built
1958
Listing Agency:
Grand Realty of America, Corp.
(305) 931-7878
Listed By:
Karina Hazan · License #3259935
(305) 299-1761
Source:
Xome
Added: Aug 31
Changed: Sep 2
Last Checked: Sep 2 at 2:04PM
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 Grand Realty of America, Corp.
Investment Insights
Based on property information with market context.
This 6,740-square-foot apartment building, constructed in 1958, contains five residential units: three one-bedroom/one-bath units, one two-bedroom/one-bath unit, and one studio. The apartments have been renovated with contemporary finishes and are offered furnished with equipment and modern appliances. Window AC units serve the residences.
Property amenities include a shared laundry room, patio, BBQ area, palm landscaping, CCTV, smart locks, and five parking spaces. The property is located at 1017 14th Ave in Fort Lauderdale, 2.3 miles from I-95 ramps and 3.5 miles from the beach. Supermarkets, banking, dining, entertainment, and shopping are described as approximately a 10-minute drive away.
Property amenities include a shared laundry room, patio, BBQ area, palm landscaping, CCTV, smart locks, and five parking spaces. The property is located at 1017 14th Ave in Fort Lauderdale, 2.3 miles from I-95 ramps and 3.5 miles from the beach. Supermarkets, banking, dining, entertainment, and shopping are described as approximately a 10-minute drive away.
Key Highlights
- Five‑unit configuration with three 1‑BD/1 BTH units, one 2‑BD/1 BTH unit, and one studio
- 6,740 SF building constructed in 1958
- All units renovated and furnished with modern appliances
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
$101,210
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
6.53%
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%
$2,024,200
$2.0M
Cap Rate 7%
$1,445,857
$1.4M
Cap Rate 9%
$1,124,556
$1.1M
Market Conditions
NOI Build-Up for 6,740 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
$194.1K $28.80/SF
− Vacancy
−$10.1K −$1.50/SF
EGI
$184.0K $27.30/SF
− OpEx
−$82.8K −$12.29/SF
NOI
$101.2K $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%
$2,024,200
Cap Rate 7%
$1,445,857
Cap Rate 9%
$1,124,556
Alternative Uses
Best Use
Apartment 5plus
$1.45M
$1.27M – $1.69M
NOI $101,210 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.53M
$3.96M – $5.28M
NOI $317,050 @ 7.0% cap · market cap 20.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,686
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?
Apartment building - Renovated, furnished apartments with shared laundry, outdoor amenities, and on-site parking in Fort Lauderdale.
Where is this apartment building located?
The property is located at 1017 14th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Five‑unit configuration with three 1‑BD/1 BTH units, one 2‑BD/1 BTH unit, and one studio; 6,740 SF building constructed in 1958; All units renovated and furnished with modern appliances
