Renovated Furnished Quadplex with
For Sale
$1,355,000
1109 NE 16th Ter, Fort Lauderdale, FL 33304
Residential Income, Fort Lauderdale, FL
Property Size2,276 SF
Price / SF$595.34
Days on Market48
Property Features for 1109 NE 16th Ter
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
RC-15
Bedrooms
5
Full bathrooms
5
Rooms
Bathroom 1, Bedroom 1, Bathroom 5, Bedroom 3, Bathroom 3, Bedroom 4, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 5
Parking
5
Subdivision
PROGRESSO
Lot features
< 1/4 Acre
Directions
From I-95, exit Sunrise Blvd east, turn south on NE 12th Ave, then east on NE 16th Terrace to home on right.
Standard status
Active
APN
494234043630
Size
2,276 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
PROGRESSO 2-18 D LOT 10 BLK 157
Tax Annual Amount
21429
Legal Description
PROGRESSO 2-18 D LOT 10 BLK 157
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Water source
Public
Amenities
pool
hurricane impact windows
washer and dryer in each unit
furnishings
security gate and cameras
Building Details
Year built
1952
Floors in Building
1
Flooring type
Vinyl
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Rebecca Guy PA · License #3363179
(954) 908-9131
Added: Jul 18
Changed: Sep 3
Last Checked: Sep 3 at 2:06AM
MLS# A12022835
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 renovated quadplex contains 2,276 square feet and is configured with four residential units, five bedrooms, and five bathrooms. Furnishings are included, along with a pool, on-site parking, hurricane-impact windows, and a washer and dryer in each unit. Block construction, vinyl flooring, a shingle roof, and 1952 construction date further define the improvements.
The property is located in Fort Lauderdale, less than 2 miles from the beach and downtown. Shopping, dining, entertainment, Galleria Mall, and Publix are identified in the surrounding area. A security gate and cameras are also present, while the property is served by public water and public sewer.
The property is located in Fort Lauderdale, less than 2 miles from the beach and downtown. Shopping, dining, entertainment, Galleria Mall, and Publix are identified in the surrounding area. A security gate and cameras are also present, while the property is served by public water and public sewer.
Key Highlights
- Four‑unit quadplex with 2,276 square feet
- Renovated and furnished residential property
- Pool, on‑site parking, security gate, and cameras
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
$37,940
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
2.80%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
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
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 - Four residential units offer individual laundry, furnishings, hurricane-impact windows, and on-site parking.
Where is this quadplex located?
The property is located at 1109 NE 16th Ter 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: Four‑unit quadplex with 2,276 square feet; Renovated and furnished residential property; Pool, on‑site parking, security gate, and cameras
