Fort Lauderdale Multifamily Investment
1106 Northeast 5th Avenue, Fort Lauderdale, FL 33304
Well-maintained 5-unit building in Lake Ridge, Fort Lauderdale.
Type:Multi-Family Income / Fourplex
Property size:
3,754 SFPrice / SF:
$319/SF- Added:
- Oct 30, 2024
- Days on Market:
- 579
- Last Refresh:
- May 15 at 10:52 pm
Property Features for 1106 Northeast 5th Avenue
General Information
- Standard status
- Active
- Size
- 3,754 SF
- Property subtype
- Multi-Family Income / Fourplex
Building Details
- Year Built
- 1980
Listing agent Ilan Allen Ziv License #3601056 (954) 450-2000
Listing office United Realty Group Inc (954) 450-2000
Listing date Oct 30, 2024
Source Compass
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
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.
- Recently replaced roof in 2020.
- 40‑Year Certification Passed and up‑to‑date.
- Designated private parking for each apartment.
Overview
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.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $94.6k | $25.20 |
| − Vacancy | −$5.2k | −$1.39 |
| EGI | $89.4k | $23.81 |
| − OpEx | −$26.8k | −$7.14 |
| NOI | $62.6k | $16.67 |
3,754 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
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 local authorities.
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Fort Lauderdale
- County
- Broward
- State
- Florida
- Longitude
- -80.1392472
- Latitude
- 26.1390675
Nearby Similar for Sale
FAQs
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.
