Quadplex with Renovating Vacant
New
For Sale
$784,750
124 NW 21ST Court, Wilton Manors, FL 33311
MULTI_FAMILY - Wilton Manors, FL
Property Size2,376 SF
Lot Size0.17 Acres
Price / SF$330.28
Days on Market3
Property Features for 124 NW 21ST Court
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RM-12
Bedrooms
3
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 3, Bedroom 1, Bathroom 4
Patio and Porch features
Patio
Subdivision
TROPICAL PALMS
Elementary school
Wilton Manors
Middle school
Sunrise
High school
Fort Lauderdale
Standard status
Active
APN
494227400010
Size
2,376 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TROPICAL PALMS 54-17 B LOT 1 BLK 1
Tax Annual Amount
17023
Legal Description
TROPICAL PALMS 54-17 B LOT 1 BLK 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1964
Floors in Building
1
Number of units
4
Flooring type
Tile
Building materials
CBS
Roof type
Shingle
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Gavin Payne · License #3621622
(612) 889-2535
Added: Jul 28
Changed: Jul 30
Last Checked: Jul 30 at 6:06PM
MLS# B26057618
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 quadplex offers four residential units with separate electric metering. The unit mix includes two identical 1-bedroom/1-bath units, one larger 1-bedroom/1-bath unit, and a studio. Three units are currently leased on month-to-month terms, while one unit is vacant and undergoing renovation, with the exterior update planned for mid-August.
The property is zoned RM-12 and totals approximately 2,376 square feet on a 0.17-acre lot. Showings are available by appointment only, with 24-hour notice required for tenant-occupied units.
For buyers considering a value-add strategy or a long-term hold, the mix of occupied month-to-month units and a renovation underway provides flexibility for future repositioning.
The property is zoned RM-12 and totals approximately 2,376 square feet on a 0.17-acre lot. Showings are available by appointment only, with 24-hour notice required for tenant-occupied units.
For buyers considering a value-add strategy or a long-term hold, the mix of occupied month-to-month units and a renovation underway provides flexibility for future repositioning.
Key Highlights
- Quadplex with a unit mix of two identical 1BR/1BA units, one larger 1BR/1BA unit, and a studio
- Three units have in‑place month‑to‑month leases, offering immediate flexibility for a new owner
- Separately metered electric for each unit
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.9k | $25.20 |
| − Vacancy | −$3.3k | −$1.39 |
| EGI | $56.6k | $23.81 |
| − OpEx | −$17.0k | −$7.14 |
| NOI | $39.6k | $16.67 |
2,376 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$565.8K
$495.1K – $660.1K
NOI $39,607 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$522.0K
$456.8K – $609.0K
NOI $36,541 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$1.21M
$1.05M – $1.41M
NOI $84,381 @ 7.0% cap · market cap 10.75%
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
1,042
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
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 on a separately electric-metered property, with one unit currently being renovated.
Where is this quadplex located?
The property is located at 124 NW 21ST Court Wilton Manors, FL.
What is the asking price?
The asking price for this property is $784,750.
What are key features of this property?
This property features: Quadplex with a unit mix of two identical 1BR/1BA units, one larger 1BR/1BA unit, and a studio; Three units have in‑place month‑to‑month leases, offering immediate flexibility for a new owner; Separately metered electric for each unit
