Harbour Beach Residences Multifamily
1790 SE 23rd Ave & 2323 SE 18th St Fort Lauderdale, FL 33316
1790 SE 23rd Ave & 2323 SE 18th St, Fort Lauderdale, FL, 33316
$7,950,000
For Sale
$7,950,000
25-unit multifamily asset in Fort Lauderdale's Harbour Inlet neighborhood.
Property Size16,833 SF
Price / SF$472.29
Days on Market113
Property Features for 1790 SE 23rd Ave & 2323 SE 18th St
General Information
- Standard status
- Active
- Size
- 16,833 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1963
Listing agency
(954) 312-1677
Listed by
Dan Dratch · License #FL #SL3341163
Source
Franklinst
Added: Apr 1 Updated: Jul 10 at 1:15PM Checked: Jul 10 at 1:15PM
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 Dan Dratch
Investment Insights
Based on property information with market context.
Harbour Beach Residences presents an opportunity to acquire a 16,833 square foot multifamily asset featuring 25 units. Constructed in 1963, the property is situated within RS-8 low-density residential zoning. The property operates as both traditional rentals and short-term rentals with professional third-party management and is fully licensed to do both. The unit mix includes one studio, eighteen 1-bed 1-bath units, four 1-bed 2-bath units, and two 2-bed 2-bath units. Recent capital improvements include new roofs on both buildings, new impact windows, parking resurfacing, AC replacements, new exterior paint, new AC units, and interior electrical panel replacements. The 50-year recertification has been completed. Interior improvements feature new luxury vinyl and tile flooring, new stainless-steel appliances, and modernized kitchens and bathrooms with premium cabinetry, countertops, and vanities. Amenities include in-unit washer/dryers, a common laundry area, a full-sized pool, central air-conditioning throughout, and ample parking for residents and guests. The property has direct beachfront access. It is a highly reviewed Airbnb property with amenities such as fully equipped kitchens and baths, high-end furniture, large private balconies, free Xfinity and streaming services, and access to beach essentials. The property is surrounded by major Class A development, including residential, hotel, and retail spaces. It is located in the Harbour Inlet location, within walking distance of Fort Lauderdale Beach and close proximity to Downtown, featuring restaurants, retailers, nightlife, and recreation. Located just south of SE 17th St, it provides easy access to anywhere along the Fort Lauderdale beaches and Downtown Fort Lauderdale and abroad via US-1 to I-95 and Florida's Turnpike.
Key Highlights
- Rare opportunity to acquire a fully renovated, 25‑unit multifamily asset in Fort Lauderdale's prestigious Harbour Inlet neighborhood.
- Property is fully licensed to operate as both traditional rentals and short‑term rentals with professional 3rd party management.
- Recent capital improvements include new roofs, impact windows, AC replacements, and modernized interiors with luxury finishes.
Local Financial Insights For Apartment 5plus
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 | $484.8k | $28.80 |
| − Vacancy | −$25.2k | −$1.50 |
| EGI | $459.6k | $27.30 |
| − OpEx | −$206.8k | −$12.29 |
| NOI | $252.8k | $15.02 |
16,833 SF · lease $28.80/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.61M
$3.16M – $4.21M
NOI $252,770 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.31M
$9.90M – $13.20M
NOI $791,824 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Short term rental ...
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - 25-unit multifamily asset in Fort Lauderdale's Harbour Inlet neighborhood.
Where is this apartment building located?
The property is located at 1790 SE 23rd Ave & 2323 SE 18th St Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $7,950,000.
What are key features of this property?
This property features: Rare opportunity to acquire a fully renovated, 25‑unit multifamily asset in Fort Lauderdale's prestigious Harbour Inlet neighborhood.; Property is fully licensed to operate as both traditional rentals and short‑term rentals with professional 3rd party management.; Recent capital improvements include new roofs, impact windows, AC replacements, and modernized interiors with luxury finishes.
