Renovated Fourplex with Flex
For Sale
$2,499,000
1305 SE 1st St, Fort Lauderdale, FL 33301
Renovated fourplex with four 2BR/1BA units and on-site laundry, plus impact-resistant windows and doors.
Property Size4,219 SF
Price / SF$592.32
Days on Market134
Property Features for 1305 SE 1st St
General Information
Standard status
Active
Size
4,219 SF
Property subtype
Multi-Unit (2-4)
Amenities
Sewer Type: Municipal
Total Taxes: $33,823, Tax Year: 2025, Percentage of Tax that is Deductable: 0
Tile Floor
Has Central AC: 1
Sale, Sale Type: Foreclosure
2 Stories, Built in 1980, Community Laundry
Subdivision Name: Colee Hammock
Above Area Square Feet: 4219
Water Source: Municipal
Construction Type: Masonry - Concrete Block, Balcony, Open Porch
Building Details
Year Built
1980
Listing Agency:
Compass Florida, LLC
Listed By:
Agostina Mittone · License #3421497
(954) 477-7332
Source:
Doyle-realty
Added: Apr 27
Changed: Sep 6
Last Checked: Sep 7 at 7:55AM
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 Compass Florida, LLC
Investment Insights
Based on property information with market context.
This renovated fourplex includes four 2-bedroom, 1-bath units. Two of the units feature additional flex rooms that can support extra sleeping space or a home office setup. One unit is furnished and set up for short-term rental use. Updates throughout the property include updated kitchens, bathrooms, and flooring, along with impact-resistant PGT windows and doors.
The property has on-site laundry with a washer/dryer set on each floor and includes ample on-site and street parking.
Recent building and mechanical improvements include a roof replacement in 2022, HVAC systems installed in 2021, a 10-year building safety certification completed in 2022, and a tankless water heater installed in 2025.
The property has on-site laundry with a washer/dryer set on each floor and includes ample on-site and street parking.
Recent building and mechanical improvements include a roof replacement in 2022, HVAC systems installed in 2021, a 10-year building safety certification completed in 2022, and a tankless water heater installed in 2025.
Key Highlights
- Renovated fourplex (built 1980) with four spacious 2BR/1BA units
- Two units feature additional flex rooms for extra sleeping space or a home office
- Impact‑resistant PGT windows and doors, plus updated kitchens, bathrooms, and flooring throughout
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$70,330
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,406,600
$1.4M
Cap Rate 7%
$1,004,714
$1.0M
Cap Rate 9%
$781,444
$781.4K
Market Conditions
NOI Build-Up for 4,219 SF
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.
Gross rent
$106.3K $25.20/SF
− Vacancy
−$5.8K −$1.39/SF
EGI
$100.5K $23.81/SF
− OpEx
−$30.1K −$7.14/SF
NOI
$70.3K $16.67/SF
Area
Fort Lauderdale, 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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,406,600
Cap Rate 7%
$1,004,714
Cap Rate 9%
$781,444
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$879.1K – $1.17M
NOI $70,330 @ 7.0% cap · market cap 2.81%
Second Best
Apartment 5plus
$905.1K
$791.9K – $1.06M
NOI $63,354 @ 7.0% cap · market cap 2.54%
Theoretical Best
Office A
$2.84M
$2.48M – $3.31M
NOI $198,462 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,583
Businesses Nearby
Explore this area
Business Placement
Demographics for 33301, FL
19,109
Population
13,955
Households
1.4
Avg Household Size
42
Median Age
62%
College-Educated
96%
High-School Grad
2.5 sq mi
ZIP Area
7,644
Density / Sq Mi
$115,421
Median Household Income
$76,365
Median Earnings
$2,341
Median Rent
$751,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Renovated fourplex with four 2BR/1BA units and on-site laundry, plus impact-resistant windows and doors.
Where is this quadplex located?
The property is located at 1305 SE 1st St Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Renovated fourplex (built 1980) with four spacious 2BR/1BA units; Two units feature additional flex rooms for extra sleeping space or a home office; Impact‑resistant PGT windows and doors, plus updated kitchens, bathrooms, and flooring throughout
