Apartment Building with Five Legal
For Sale
$1,199,998
1106 NE 5th ave, Fort Lauderdale, FL 33304
MULTI_FAMILY - Other - Fort Lauderdale, FL
Property Size3,754 SF
Price / SF$319.66
Days on Market9
Property Features for 1106 NE 5th ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
RMM-25
Parking
6
Subdivision
PROGRESSO
Lot features
< 1/4 Acre
Standard status
Active
APN
494234040910
Size
3,754 SF
Taxes and HOA fees
Tax Year
2023
Tax Description
PROGRESSO 2-18 D LOT 27,28,29 BLK 145
Tax Annual Amount
13674
Legal Description
PROGRESSO 2-18 D LOT 27,28,29 BLK 145
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Central Air
Amenities
coin-operated washer and dryer
Building Details
Year built
1980
Floors in Building
1
Building materials
Block
Architectural style
Other
Listing Agency:
United Realty Group Inc
(954) 450-2000
Listed By:
Ilan Allen Ziv · License #3601056
(305) 900-8292
Added: Jul 30
Changed: Aug 4
Last Checked: Aug 7 at 12:06AM
MLS# A11685074
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 apartment building at 1106 NE 5th Ave, Fort Lauderdale, FL 33304 includes 5 legal units in a block construction exterior and offers central air cooling. The property features coin-operated washer and dryer and designated private parking for each apartment. Utility metering includes 6 electric meters and 1 water meter, supporting individualized service for the units.
The building was constructed in 1980, and the roof was recently replaced in 2020. A 40-year certification has passed and is reported as up to date. Cable is available and the property is connected to public sewer.
All units are described as currently leased on one-year leases.
The building was constructed in 1980, and the roof was recently replaced in 2020. A 40-year certification has passed and is reported as up to date. Cable is available and the property is connected to public sewer.
All units are described as currently leased on one-year leases.
Key Highlights
- 5 legal units in a block construction apartment building
- Roof replaced in 2020 and 40‑Year Certification passed
- 6 electric meters and 1 water meter
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
$56,371
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
4.70%
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%
$1,127,420
$1.1M
Cap Rate 7%
$805,300
$805.3K
Cap Rate 9%
$626,344
$626.3K
Market Conditions
NOI Build-Up for 3,754 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
$108.1K $28.80/SF
− Vacancy
−$5.6K −$1.50/SF
EGI
$102.5K $27.30/SF
− OpEx
−$46.1K −$12.29/SF
NOI
$56.4K $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%
$1,127,420
Cap Rate 7%
$805,300
Cap Rate 9%
$626,344
Alternative Uses
Best Use
Apartment 5plus
$805.3K
$704.6K – $939.5K
NOI $56,371 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.52M
$2.21M – $2.94M
NOI $176,588 @ 7.0% cap · market cap 14.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,287
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Block construction apartment building with five legal units, central air, and coin-operated laundry on-site.
Where is this apartment building located?
The property is located at 1106 NE 5th ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,199,998.
What are key features of this property?
This property features: 5 legal units in a block construction apartment building; Roof replaced in 2020 and 40‑Year Certification passed; 6 electric meters and 1 water meter
