Furnished Triplex with Private
For Sale
$985,000
1207 NE 12th Avenue, Fort Lauderdale, FL 33304
Residential Income, Fort Lauderdale, FL
Property Size3,044 SF
Lot Size0.19 Acres
Price / SF$323.59
Days on Market108
Property Features for 1207 NE 12th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
RM-15
Bedrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 4, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 3
Window features
Blinds, Bay Window(s)
Patio and Porch features
Deck
Pets allowed
Yes, No
Exterior features
Barbecue, Lighting, Storage
Fencing
Fenced, Gate
Subdivision
PROGRESSO
Lot features
Interior Lot, Landscaped
Elementary school
Bennett
Middle school
Sunrise
High school
Fort Lauderdale
Directions
1207 NE 12th AVE (no yard sign placed yet). Please DO NOT walk the property and DO NOT disturb the tenants.
Standard status
Active
APN
494234030380
Size
3,044 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PROGRESSO 2-18 D LOT 20 LESS N 5,21,22 LESS S 10 BLK 106
Tax Annual Amount
12338
Legal Description
PROGRESSO 2-18 D LOT 20 LESS N 5,21,22 LESS S 10 BLK 106
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Window Unit(s), Wall/Window Unit(s), Central Air
Water source
Public
Amenities
dedicated off-street parking
landscaped private yards
outdoor storage
BBQ grills
separate front & rear entrances
Building Details
Year built
1950
Floors in Building
1
Number of units
3
Flooring type
Concrete, Engineered, Carpet, Tile, Tile - Ceramic, Wood
Building materials
Attic/Crawl Hatchway(s) Insulated, Blown-In Insulation, CBS, Stucco
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Kirsten A Schneider · License #3197221
(214) 529-7610
Added: May 14
Changed: Aug 29
Last Checked: Aug 29 at 10:06PM
MLS# B26028484
Copyright © 2026 BeachesMLS. 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 three-unit residential property contains 3,044 square feet and a 4-bedroom, 4-bathroom configuration comprising one 2-bedroom/2-bathroom unit and two 1-bedroom/1-bathroom units. The property is offered furnished and equipped, with appliances, linens, dinnerware, BBQ grills, and decor included. Each unit has its own front and rear entrances, while three separate electric meters support distinct utility service. A storage and flex area in Unit 3 provides additional interior space. The grounds include landscaped private yards, fencing, outdoor storage, and a deck. Fresh exterior paint and new attic insulation are also noted.
Located at 1207 NE 12th Avenue in Fort Lauderdale, the property is approximately 2 miles from Fort Lauderdale Beach. RM-15 zoning supports multifamily use, and the property includes dedicated off-street parking, public water, and public sewer. Central heating and a combination of central air and window or wall units serve the building.
Located at 1207 NE 12th Avenue in Fort Lauderdale, the property is approximately 2 miles from Fort Lauderdale Beach. RM-15 zoning supports multifamily use, and the property includes dedicated off-street parking, public water, and public sewer. Central heating and a combination of central air and window or wall units serve the building.
Key Highlights
- 3,044‑square‑foot triplex on a 0.19‑acre lot
- 4 bedrooms and 4 bathrooms with a 2/2, 1/1, 1/1 unit mix
- RM‑15 zoning for multifamily use
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
$50,743
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
5.15%
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%
$1,014,860
$1.0M
Cap Rate 7%
$724,900
$724.9K
Cap Rate 9%
$563,811
$563.8K
Market Conditions
NOI Build-Up for 3,044 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
$76.7K $25.20/SF
− Vacancy
−$4.2K −$1.39/SF
EGI
$72.5K $23.81/SF
− OpEx
−$21.7K −$7.14/SF
NOI
$50.7K $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%
$1,014,860
Cap Rate 7%
$724,900
Cap Rate 9%
$563,811
Alternative Uses
Best Use
Multifamily LT 5
$724.9K
$634.3K – $845.7K
NOI $50,743 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$653.0K
$571.4K – $761.8K
NOI $45,710 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$2.05M
$1.79M – $2.39M
NOI $143,190 @ 7.0% cap · market cap 14.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,143
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three furnished units offer separate entrances, private outdoor areas, and dedicated off-street parking.
Where is this triplex located?
The property is located at 1207 NE 12th Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: 3,044‑square‑foot triplex on a 0.19‑acre lot; 4 bedrooms and 4 bathrooms with a 2/2, 1/1, 1/1 unit mix; RM‑15 zoning for multifamily use
