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    Turnkey Coastal Multifamily Asset Title is generated by Realmo AI

    4204 N Ocean Dr, Lauderdale by the Sea, FL 33308

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    For Sale
    $1,400,000

    Well-maintained multifamily property near the beach in Lauderdale-By-The-Sea.

    Type:Multifamily
    Property size:
    2,538 SF
    Lot size:
    0.13 Acres
    Price / SF:
    $551/SF
    Added:
    Apr 1, 2026
    Days on Market:
    68
    Last Refresh:
    Apr 1 at 11:52 am

    Property Features for 4204 N Ocean Dr

    General Information

    Standard status
    Active
    Size
    2,538 SF
    Lot size
    0.13 Acres
    Property subtype
    Multifamily

    Building Details

    Year Built
    1966

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    Listing Contact
    Alexander Gerdak

    Listing agent Alexander Gerdak License #FL #SL3614788

    Listing office

    Listing date Apr 1, 2026

    Source Franklinst

    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 Alexander Gerdak

    HighLights

    • Irreplaceable coastal location steps from the beach, near Anglin’s Fishing Pier, restaurants, and retail.
    • Turnkey, well‑maintained multifamily asset with proven short‑term rental income.
    • Significant renovations completed in 2024, including a new roof, updated interiors, and modern appliances.
    • Clear revenue upside with the ability to increase average daily rates.
    • Favorable RMM‑25 zoning on a 0.13‑acre lot, offering long‑term flexibility.
    • Convenient access to Fort Lauderdale Beach, Las Olas Boulevard, Downtown Fort Lauderdale, US‑1, I‑95, and the airport.

    Overview

    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.
    Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lauderdale by the Sea
    County
    Broward
    State
    Florida
    Longitude
    -80.0968136
    Latitude
    26.1860824

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    FAQs

    What type of property is this?
    Quadplex - Well-maintained multifamily property near the beach in Lauderdale-By-The-Sea.
    Where is this quadplex located?
    The property is located at 4204 N Ocean Dr Lauderdale by the Sea, FL.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Irreplaceable coastal location steps from the beach, near Anglin’s Fishing Pier, restaurants, and retail.; Turnkey, well‑maintained multifamily asset with proven short‑term rental income.; **Significant renovations completed in 2024, including a new roof, updated interiors, and modern appliances.**
    (954) 312-1678
    We can help!
    Listing Contact
    Alexander Gerdak
    Real Estate License ID: FL #SL3614788
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    4204 N Ocean Dr, Lauderdale-By-The-Sea, FL 33308
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