Turnkey Furnished 4-Plex with
For Sale
$1,355,000
1109 NE 16th Terrace, Fort Lauderdale, FL 33304
Renovated, furnished 4-plex near the beach, perfect for short-term rentals.
Property Size2,276 SF
Price / SF$595.34
Days on Market152
Property Features for 1109 NE 16th Terrace
General Information
Standard status
Active
Size
2,276 SF
Total Parking Spaces
5
Property subtype
Residential Income
Zoning
RC-15
Site & Location
Neighborhood
Lrra
Taxes and HOA fees
Annual Taxes
$21,429
Building Details
Building Size
2,276 SF
Year Built
1952
Stories
1
Listing Agency:
LoKation
Listed By:
Rebecca Guy · License #3363179
(954) 908-9131
Source:
Laerrealty
Added: May 27
Changed: Oct 7
Last Checked: Oct 24 at 2:06PM
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 LoKation
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This renovated and furnished 4-plex is suitable for short-term rentals and features high occupancy. Located less than 2 miles from the beach and downtown, each unit includes a washer and dryer. The property includes a pool, parking, a security gate, and cameras. Shopping, bars, entertainment, Galleria Mall, and Publix are nearby. The property size is 2276 square feet.
Key Highlights
- Turnkey furnished 4‑plex ideal for short term rental
- High occupancy rate
- Less than 2 miles from beach and downtown
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,940
Cap Rate
2.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$758,800
$758.8K
Cap Rate 7%
$542,000
$542.0K
Cap Rate 9%
$421,556
$421.6K
Market Conditions
NOI Build-Up for 2,276 SF
Gross rent
$57.4K $25.20/SF
− Vacancy
−$3.2K −$1.39/SF
EGI
$54.2K $23.81/SF
− OpEx
−$16.3K −$7.14/SF
NOI
$37.9K $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 Rate 5%
$758,800
Cap Rate 7%
$542,000
Cap Rate 9%
$421,556
Alternative Uses
Best Use
Multifamily LT 5
$542.0K
$474.3K – $632.3K
NOI $37,940 @ 7.0% cap · market cap 2.80%
Second Best
Apartment 5plus
$488.2K
$427.2K – $569.6K
NOI $34,177 @ 7.0% cap · market cap 2.52%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $107,063 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Location Intelligence
Trade Area within ½ mile
2,393
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Renovated, furnished 4-plex near the beach, perfect for short-term rentals.
Where is this quadplex located?
The property is located at 1109 NE 16th Terrace Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,355,000.
What are key features of this property?
This property features: Turnkey furnished 4‑plex ideal for short term rental; High occupancy rate; Less than 2 miles from beach and downtown
