3-Unit Triplex with Separate
New
For Sale
$749,000
1279 NE 40TH Place, Oakland Park, FL 33334
Each residence has a two-bedroom, one-bath layout and a new A/C unit.
Property Size1,941 SF
Price / SF$385.88
Days on Market3
Property Features for 1279 NE 40TH Place
General Information
Standard status
Active
Size
1,941 SF
Total Parking Spaces
6
Property subtype
Triplex
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$63,600
Taxes and HOA fees
Annual Taxes
$12,894
Amenities
spacious backyard
Building Details
Building Size
1,941 SF
Year Built
1957
Listing Agency:
Coastland Realty Inc
Listed By:
Glenn A Smith · License #571343
(954) 873-4220
Source:
Pamandtoni
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 20 at 7:48PM
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 Coastland Realty Inc
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Investment Insights
Based on property information with market context.
This 1,941-square-foot triplex in Oakland Park contains three residences, each arranged with two bedrooms and one bathroom. Separate electric meters serve the units, and each has a new A/C unit. The property also includes a backyard and six parking spaces at the front.
Located at 1279 NE 40TH Place, the property sits on a cul-de-sac and is within walking distance of restaurants and shops in Oakland Park’s downtown district.
Located at 1279 NE 40TH Place, the property sits on a cul-de-sac and is within walking distance of restaurants and shops in Oakland Park’s downtown district.
Key Highlights
- Three units, each with 2 bedrooms and 1 bathroom
- Separate electric meters for the residences
- New A/C units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,356
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$647,120
$647.1K
Cap Rate 7%
$462,229
$462.2K
Cap Rate 9%
$359,511
$359.5K
Market Conditions
NOI Build-Up for 1,941 SF
Gross rent
$48.9K $25.20/SF
− Vacancy
−$2.7K −$1.39/SF
EGI
$46.2K $23.81/SF
− OpEx
−$13.9K −$7.14/SF
NOI
$32.4K $16.67/SF
Area
Broward County, FL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$647,120
Cap Rate 7%
$462,229
Cap Rate 9%
$359,511
Alternative Uses
Best Use
Multifamily LT 5
$462.2K
$404.5K – $539.3K
NOI $32,356 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$426.4K
$373.1K – $497.5K
NOI $29,851 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$984.8K
$861.7K – $1.15M
NOI $68,933 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,775
Businesses Nearby
Explore this area
Business Placement
Demographics for 33334, FL
30,138
Population
14,314
Households
2.1
Avg Household Size
44
Median Age
33%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,279
Density / Sq Mi
$69,512
Median Household Income
$36,895
Median Earnings
$1,615
Median Rent
$430,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Each residence has a two-bedroom, one-bath layout and a new A/C unit.
Where is this triplex located?
The property is located at 1279 NE 40TH Place Oakland Park, FL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Three units, each with 2 bedrooms and 1 bathroom; Separate electric meters for the residences; New A/C units
