Fort Lauderdale Multifamily Investment
For Sale
$1,199,999
1106 Northeast 5th Avenue, Fort Lauderdale, FL 33304
Well-maintained 5-unit building in Lake Ridge, Fort Lauderdale.
Property Size3,754 SF
Price / SF$319.66
Days on Market659
Property Features for 1106 Northeast 5th Avenue
General Information
Standard status
Active
Size
3,754 SF
Property subtype
Residential Income / Fourplex
Taxes and HOA fees
Annual Taxes
$13,674
Building Details
Year Built
1980
Listing Agency:
United Realty Group Inc
(954) 450-2000
Listed By:
Ilan Allen Ziv · License #3601056
(954) 450-2000
Source:
Compass
Added: Oct 30, 2024
Changed: Aug 8
Last Checked: Aug 8 at 3:09PM
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 United Realty Group Inc
Investment Insights
Based on property information with market context.
This is a well-maintained building with 5 legal units located in the Lake Ridge area of Fort Lauderdale. The property contains 3 one-bedroom units and 2 two-bedroom units. The one-bedroom units are rented at $1,800 per month, and the two-bedroom units are rented at $2,400 per month. All units are currently leased on one-year leases. The roof was recently replaced in 2020. The 40-Year Certification has been passed and is up-to-date. There are 6 electric meters and 1 water meter. A coin-operated washer and dryer are available. Each apartment has designated private parking. The property is situated minutes away from Las Olas Blvd, Victoria Park, and Flagler Village, with proximity to numerous shopping, dining, and entertainment options. The building size is 3,754 square feet.
Key Highlights
- Prime location in the sought‑after Lake Ridge area of Fort Lauderdale.
- Solid investment opportunity with 5 legal units, generating rental income.
- All units currently leased on one‑year leases.
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
$62,578
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
5.21%
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%
$1,251,560
$1.3M
Cap Rate 7%
$893,971
$894.0K
Cap Rate 9%
$695,311
$695.3K
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
$94.6K $25.20/SF
− Vacancy
−$5.2K −$1.39/SF
EGI
$89.4K $23.81/SF
− OpEx
−$26.8K −$7.14/SF
NOI
$62.6K $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%
$1,251,560
Cap Rate 7%
$893,971
Cap Rate 9%
$695,311
Alternative Uses
Best Use
Multifamily LT 5
$894.0K
$782.2K – $1.04M
NOI $62,578 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$805.3K
$704.6K – $939.5K
NOI $56,371 @ 7.0% cap · market cap 4.70%
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
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained 5-unit building in Lake Ridge, Fort Lauderdale.
Where is this quadplex located?
The property is located at 1106 Northeast 5th Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,199,999.
What are key features of this property?
This property features: Prime location in the sought‑after Lake Ridge area of Fort Lauderdale.; Solid investment opportunity with 5 legal units, generating rental income.; All units currently leased on one‑year leases.
