4204 N Ocean Dr Lauderdale by the Sea, FL 33308

Located at 4204 N Ocean Dr, this well-maintained multifamily property presents an opportunity to acquire a turnkey asset in a desirable coastal market. Constructed in 1966 and significantly renovated in 2024, the 2,538 square foot building consists of four units. The property is zoned RM-25 and situated on a 0.13-acre lot. It is operated as short-term rentals in the Lauderdale-by-the-Sea beach market. The property has in-place income with average daily rates of approximately $150 per night for one-bedroom units and $200 per night for the two-bedroom unit. There is revenue upside with the ability to increase average daily rates by approximately 17% for one-bedroom units and 12.5% for the two-bedroom unit through optimized pricing and management. The property has favorable RMM-25 zoning, offering long-term flexibility and potential future redevelopment upside. Updated interiors feature modern appliances and contemporary finishes. Units 3 and 4 have been fully renovated. The property has been recently repainted and benefits from a new roof installed in 2024. The coastal location is steps from the beach and within walking distance to Anglin’s Fishing Pier, restaurants, cafes, and boutique retail. It has convenient access to Fort Lauderdale Beach, Las Olas Boulevard, Downtown Fort Lauderdale, US-1, I-95, and Fort Lauderdale–Hollywood International Airport.