5-Unit Furnished Apartment
New
For Sale
$1,550,000
1017 NE 14th Ave, Fort Lauderdale, FL 33304
Renovated residences combine short-term rental operations with one long-term lease in a furnished, five-unit property.
Property Size6,740 SF
Price / SF$229.97
Days on Market3
Property Features for 1017 NE 14th Ave
General Information
Standard status
Active
Size
6,740 SF
Total Parking Spaces
5
Property subtype
Commercial
Zoning
RMM-25
Lease Term
12 Months
Site & Location
Neighborhood
Lrra
Highway Access
Yes
Units
Unit Mix
3 x 1BR/1BA, 1 x 2BR/1BA, 1 x studio
Multifamily Units
5
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$19,135
Amenities
common laundry area
outdoor patio and BBQ area
tropical landscaping
smart locks
CCTV surveillance
Storm/Security Shutters
Building Details
Building Size
6,740 SF
Year Built
1958
Buildings
1
Stories
1
Units
5
Listing Agency:
Grand Realty of America, Corp.
(305) 931-7878
Listed By:
Karina Hazan · License #3259935
(305) 299-1761
Source:
Futureoptionrealty
Added: Oct 23
Changed: Oct 24
Last Checked: Oct 24 at 2:43PM
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.
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Investment Insights
Based on property information with market context.
This five-unit apartment property was renovated within the past three years and is offered furnished and equipped. Its mix comprises three one-bedroom, one-bath units, one two-bedroom, one-bath unit, and a studio. Four residences operate as short-term rentals; the remaining one-bedroom unit has a long-term lease. Shared amenities include laundry facilities, an outdoor patio and BBQ area, smart locks, and CCTV surveillance. The property has five parking spaces and RMM-25 zoning. Current operations generate an approximate 7% annual return.
The property is in Fort Lauderdale, approximately 3.5 miles from Fort Lauderdale Beach and 2.3 miles from I-95. Downtown Fort Lauderdale, Las Olas, shopping, dining, entertainment, and major transportation routes are also noted as accessible from the location.
The property is in Fort Lauderdale, approximately 3.5 miles from Fort Lauderdale Beach and 2.3 miles from I-95. Downtown Fort Lauderdale, Las Olas, shopping, dining, entertainment, and major transportation routes are also noted as accessible from the location.
Key Highlights
- Five units: three 1‑bedroom/1‑bath units, one 2‑bedroom/1‑bath unit, and one studio
- All five units renovated within the past three years and furnished
- Four units operated as short‑term rentals; one 1‑bedroom unit leased long‑term
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,210
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
5
Residential units
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated residences combine short-term rental operations with one long-term lease in a furnished, five-unit property.
Where is this apartment building located?
The property is located at 1017 NE 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 units: three 1‑bedroom/1‑bath units, one 2‑bedroom/1‑bath unit, and one studio; All five units renovated within the past three years and furnished; Four units operated as short‑term rentals; one 1‑bedroom unit leased long‑term
