Renovated Four-Unit
For Sale
$1,200,000
1204 Northeast 5th Avenue, Fort Lauderdale, FL 33304
Fully rented residential asset with updated interiors in three units and access to downtown Fort Lauderdale amenities.
Property Size2,660 SF
Price / SF$451.13
Days on Market461
Property Features for 1204 Northeast 5th Avenue
General Information
Standard status
Active
Size
2,660 SF
Property subtype
Residential Income / Fourplex
Taxes and HOA fees
Annual Taxes
$13,057
Building Details
Year Built
1965
Listing Agency:
Beachfront Realty Inc
Listed By:
Chaim Glik · License #3265723
(305) 405-0615
Source:
Compass
Added: Jun 2, 2025
Changed: Sep 2
Last Checked: Sep 4 at 2:58PM
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 Beachfront Realty Inc
Investment Insights
Based on property information with market context.
This 2,660-square-foot quadplex, built in 1965, contains four residential units and is fully rented. Three units have been renovated with new kitchens, upgraded lighting, new cabinets, and ceramic tile flooring throughout, providing a mix of refreshed interior finishes within the property.
The building is located at 1204 Northeast 5th Avenue in Fort Lauderdale, near downtown, major plazas, and shopping centers. Its east Fort Lauderdale setting offers proximity to established commercial and urban amenities while retaining a residential income-property format.
The building is located at 1204 Northeast 5th Avenue in Fort Lauderdale, near downtown, major plazas, and shopping centers. Its east Fort Lauderdale setting offers proximity to established commercial and urban amenities while retaining a residential income-property format.
Key Highlights
- Four‑unit quadplex with 2,660 square feet
- Fully rented residential property
- Three renovated units
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
$44,342
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
3.70%
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%
$886,840
$886.8K
Cap Rate 7%
$633,457
$633.5K
Cap Rate 9%
$492,689
$492.7K
Market Conditions
NOI Build-Up for 2,660 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
$67.0K $25.20/SF
− Vacancy
−$3.7K −$1.39/SF
EGI
$63.3K $23.81/SF
− OpEx
−$19.0K −$7.14/SF
NOI
$44.3K $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%
$886,840
Cap Rate 7%
$633,457
Cap Rate 9%
$492,689
Alternative Uses
Best Use
Multifamily LT 5
$633.5K
$554.3K – $739.0K
NOI $44,342 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$570.6K
$499.3K – $665.7K
NOI $39,943 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$1.79M
$1.56M – $2.09M
NOI $125,126 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,904
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 - Fully rented residential asset with updated interiors in three units and access to downtown Fort Lauderdale amenities.
Where is this quadplex located?
The property is located at 1204 Northeast 5th Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Four‑unit quadplex with 2,660 square feet; Fully rented residential property; Three renovated units
