Turnkey Coastal Multifamily
4204 N Ocean Dr Lauderdale by the Sea, FL 33308
4204 N Ocean Dr, Lauderdale by the Sea, FL, 33308
$1,400,000
For Sale
$1,400,000
Well-maintained multifamily property near the beach in Lauderdale-By-The-Sea.
Property Size2,538 SF
Lot Size0.13 Acres
Price / SF$551.62
Days on Market113
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
Listing agency
(954) 487-1100
Listed by
Alexander Gerdak · License #FL #SL3614788
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 Alexander Gerdak
Investment Insights
Based on property information with market context.
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.
Key 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.
Local 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 | $64.0k | $25.20 |
| − Vacancy | −$3.3k | −$1.31 |
| EGI | $60.6k | $23.89 |
| − OpEx | −$18.2k | −$7.17 |
| NOI | $42.4k | $16.72 |
2,538 SF · lease $25.20/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$606.3K
$530.5K – $707.4K
NOI $42,442 @ 7.0% cap · market cap 3.03%
Second Best
Apartment 5plus
$557.0K
$487.3K – $649.8K
NOI $38,987 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$989.8K
$866.1K – $1.15M
NOI $69,287 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
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.**
