Owner-Occupied Triplex Income
For Sale
Contact for pricing
1100 NE 15th Avenue # 2 #1-2, Fort Lauderdale, FL 33304
Three-unit setup with updated major systems and multiple unit types, currently fully occupied and income-producing.
Property Size1,836 SF
Price / SF$449.35
Days on Market132
Property Features for 1100 NE 15th Avenue # 2 #1-2
General Information
Standard status
Active
Size
1,836 SF
Property subtype
Multifamily
Zoning
RC-15
Building Details
Year Built
1951
Units
3
Listing Agency:
PRA & Company Realtors
Listed By:
Amber Taylor · License #3245620
Source:
Crexi
Added: Apr 1
Changed: Aug 8
Last Checked: Aug 10 at 6:19AM
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 PRA & Company Realtors
Investment Insights
Based on property information with market context.
This owner-occupied property is legally a duplex but is currently operated as a triplex, offering a versatile rental layout. The configuration includes one 2-bedroom/2-bath unit, one 1-bedroom/1-bath unit, and one studio, which can support a range of tenant needs or an owner-occupant “house hacking” plan. The home has been well maintained with numerous interior upgrades and is equipped with top-quality appliances, supporting a move-in-ready experience for both tenants and an owner.
Located in Lake Ridge on the east side of Fort Lauderdale, the property is positioned for day-to-day convenience. It is described as minutes from Downtown Fort Lauderdale, the beach, Galleria Mall, and Wilton Drive, with approximately 15 minutes to the airport. The offering is fully occupied, and the current operation is income-producing.
From a practical standpoint, the updated major improvements help reduce near-term maintenance concerns, including a roof that is about 4 years old and waste lines replaced about 2 years ago. With multiple unit types already in place and the building operating as a triplex, this is a straightforward fit for buyers seeking an owner-occupant option or investors looking for an occupied income property. Please do not disturb tenants.
Located in Lake Ridge on the east side of Fort Lauderdale, the property is positioned for day-to-day convenience. It is described as minutes from Downtown Fort Lauderdale, the beach, Galleria Mall, and Wilton Drive, with approximately 15 minutes to the airport. The offering is fully occupied, and the current operation is income-producing.
From a practical standpoint, the updated major improvements help reduce near-term maintenance concerns, including a roof that is about 4 years old and waste lines replaced about 2 years ago. With multiple unit types already in place and the building operating as a triplex, this is a straightforward fit for buyers seeking an owner-occupant option or investors looking for an occupied income property. Please do not disturb tenants.
Key Highlights
- Legally a duplex but currently operating as a triplex with a 2BD/2BA unit, a 1BD/1BA unit, and a studio
- Roof is 4 years old and waste lines were replaced 2 years ago, helping reduce near‑term capital expenses
- Property is fully occupied and income‑producing
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
$30,606
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
3.71%
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%
$612,120
$612.1K
Cap Rate 7%
$437,229
$437.2K
Cap Rate 9%
$340,067
$340.1K
Market Conditions
NOI Build-Up for 1,836 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
$46.3K $25.20/SF
− Vacancy
−$2.5K −$1.39/SF
EGI
$43.7K $23.81/SF
− OpEx
−$13.1K −$7.14/SF
NOI
$30.6K $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%
$612,120
Cap Rate 7%
$437,229
Cap Rate 9%
$340,067
Alternative Uses
Best Use
Multifamily LT 5
$437.2K
$382.6K – $510.1K
NOI $30,606 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$393.9K
$344.6K – $459.5K
NOI $27,570 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,365 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,197
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?
Triplex - Three-unit setup with updated major systems and multiple unit types, currently fully occupied and income-producing.
Where is this triplex located?
The property is located at 1100 NE 15th Avenue # 2 #1-2 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Legally a duplex but currently operating as a triplex with a 2BD/2BA unit, a 1BD/1BA unit, and a studio; Roof is 4 years old and waste lines were replaced 2 years ago, helping reduce near‑term capital expenses; Property is fully occupied and income‑producing
