Two-Unit Duplex with
For Sale
$640,000
1118-1120 NW 2nd Ave, Fort Lauderdale, FL 33311
Residential Income, Fort Lauderdale, FL
Property Size1,368 SF
Price / SF$467.84
Days on Market114
Property Features for 1118-1120 NW 2nd Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RD-15
Bedrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
Parking
4
Patio and Porch features
Patio
Exterior features
Patio
Subdivision
PROGRESSO
Lot features
Flood Zone, 1/4 to 1/2 Acre Lot
Directions
2 blocks north of Sunrise Blvd, before Andrews.
Standard status
Active
APN
494234039010
Size
1,368 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
PROGRESSO 2-18 D LOTS 35 & 36 BLK 138
Tax Annual Amount
9534
Legal Description
PROGRESSO 2-18 D LOTS 35 & 36 BLK 138
Utilities
Sewer type
Septic Tank
Heating system
Wall Furnace
Cooling system
Central Air
Water source
Public
Amenities
new appliances
large private yard
Building Details
Year built
1961
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle, Wood
Listing Agency:
Potential Property Group
(305) 260-6300
Listed By:
Beatriz Misas Restrepo · License #3545794
(954) 999-6981
Added: Jun 17
Changed: Oct 4
Last Checked: Oct 8 at 4:06AM
MLS# A11954456
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 1368-square-foot duplex contains two independent apartments, each configured with one bedroom and one bathroom. Both units are currently rented. The property includes new appliances, ceramic tile flooring, central air conditioning, wall-furnace heating, and a patio. Block construction, shingle and wood roofing, public water, and a septic tank complete the existing improvements.
The property is located on NW 2nd Ave in Fort Lauderdale, near US-1 and Las Olas Boulevard, with the beach described as minutes away. Each residence has its own apartment layout, and the site includes a large private yard.
The property is located on NW 2nd Ave in Fort Lauderdale, near US-1 and Las Olas Boulevard, with the beach described as minutes away. Each residence has its own apartment layout, and the site includes a large private yard.
Key Highlights
- 1368‑square‑foot duplex with two independent apartments
- Two 1‑bedroom, 1‑bathroom apartments
- Both apartments are currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,804
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$456,080
$456.1K
Cap Rate 7%
$325,771
$325.8K
Cap Rate 9%
$253,378
$253.4K
Market Conditions
NOI Build-Up for 1,368 SF
Gross rent
$34.5K $25.20/SF
− Vacancy
−$1.9K −$1.39/SF
EGI
$32.6K $23.81/SF
− OpEx
−$9.8K −$7.14/SF
NOI
$22.8K $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%
$456,080
Cap Rate 7%
$325,771
Cap Rate 9%
$253,378
Alternative Uses
Best Use
Multifamily LT 5
$325.8K
$285.1K – $380.1K
NOI $22,804 @ 7.0% cap · market cap 3.56%
Second Best
Apartment 5plus
$293.5K
$256.8K – $342.4K
NOI $20,542 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$919.3K
$804.4K – $1.07M
NOI $64,351 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,504
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate apartments feature central air, ceramic tile, new appliances, and access to a private yard.
Where is this duplex located?
The property is located at 1118-1120 NW 2nd Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: 1368‑square‑foot duplex with two independent apartments; Two 1‑bedroom, 1‑bathroom apartments; Both apartments are currently rented
