Two-Story 26-Unit Apartment
610 NE 1st Ave Fort Lauderdale, FL 33304
610 NE 1st Ave, Fort Lauderdale, FL, 33304
$4,860,180
For Sale
$4,860,180
Well-maintained two-story apartment building with on-site parking and a secured courtyard layout.
Property Size17,165 SF
Lot Size0.62 Acres
Price / SF$283.14
Days on Market115
Property Features for 610 NE 1st Ave
General Information
- Standard status
- Active
- Size
- 17,165 SF
- Lot size
- 0.62 Acres
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1974
Listing agency
Native Realty
(954) 595-2999
Listed by
Jaime Sturgis · License #F10550164
Source
Commercialcafe
Added: Mar 30 Updated: Jul 21 at 2:23PM Checked: Jul 21 at 2:23PM
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 Native Realty
Investment Insights
Based on property information with market context.
Native Realty is pleased to present a 26-unit multifamily investment opportunity at 610 NE 1st Avenue in Fort Lauderdale. The property consists of a well-maintained two-story apartment building totaling 17,165 square feet on a 27,001 square foot lot. The unit mix is described as stabilized, with functional layouts and updated interiors in select units, offering room for continued interior upgrades.
The site includes on-site parking and a secured courtyard-style layout. It is positioned within a high-density residential pocket, and the property is zoned RAC-UV (Regional Activity Center – Urban Village), which is described as allowing increased density and redevelopment flexibility.
For connectivity, the offering notes proximity to major thoroughfares including Federal Highway, Broward Boulevard, and Sunrise Boulevard, with access to Downtown Fort Lauderdale, Flagler Village, and surrounding employment hubs.
The site includes on-site parking and a secured courtyard-style layout. It is positioned within a high-density residential pocket, and the property is zoned RAC-UV (Regional Activity Center – Urban Village), which is described as allowing increased density and redevelopment flexibility.
For connectivity, the offering notes proximity to major thoroughfares including Federal Highway, Broward Boulevard, and Sunrise Boulevard, with access to Downtown Fort Lauderdale, Flagler Village, and surrounding employment hubs.
Key Highlights
- 26‑unit multifamily property at 610 NE 1st Avenue, Fort Lauderdale
- Two‑story apartment building totals 17,165 SF on a 27,001 SF lot
- Zoned RAC‑UV (Regional Activity Center – Urban Village) allowing increased density and redevelopment flexibility
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 | $494.4k | $28.80 |
| − Vacancy | −$25.7k | −$1.50 |
| EGI | $468.6k | $27.30 |
| − OpEx | −$210.9k | −$12.29 |
| NOI | $257.8k | $15.02 |
17,165 SF · lease $28.80/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.68M
$3.22M – $4.30M
NOI $257,755 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.53M
$10.09M – $13.46M
NOI $807,442 @ 7.0% cap · market cap 16.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Well-maintained two-story apartment building with on-site parking and a secured courtyard layout.
Where is this apartment building located?
The property is located at 610 NE 1st Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $4,860,180.
What are key features of this property?
This property features: 26‑unit multifamily property at 610 NE 1st Avenue, Fort Lauderdale; Two‑story apartment building totals 17,165 SF on a 27,001 SF lot; Zoned RAC‑UV (Regional Activity Center – Urban Village) allowing increased density and redevelopment flexibility
