Renovated Fourplex with Flex
For Sale
$2,499,000
1305 SE 1st St, Fort Lauderdale, FL 33301
Residential Income, Fort Lauderdale, FL
Property Size4,219 SF
Price / SF$592.32
Days on Market138
Property Features for 1305 SE 1st St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
RM-15
Bedrooms
8
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 6, Bedroom 7, Bedroom 8, Bedroom 5, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 3, Bedroom 3, Bedroom 2
Parking
5
Window features
Blinds
Exterior features
Balcony, Barbecue, Fence, Lighting
Fencing
Fenced
Subdivision
COLEE HAMMOCK
Lot features
< 1/4 Acre
Standard status
Active
APN
504211011411
Size
4,219 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
COLEE HAMMOCK 1-17 B LOT 10 BLK 30
Tax Annual Amount
33823
Legal Description
COLEE HAMMOCK 1-17 B LOT 10 BLK 30
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
on-site laundry
Building Details
Year built
1980
Floors in Building
2
Flooring type
Tile
Building materials
Block
Architectural style
Other
Listing Agency:
Compass Florida, LLC
(954) 477-7332
Listed By:
Agostina Mittone · License #3421497
(347) 228-1380
Added: Apr 29
Changed: Sep 12
Last Checked: Sep 13 at 2:06PM
MLS# A12007353
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated fourplex contains four 2BR/1BA units, with two residences adding flex rooms that can serve as sleeping areas or home offices. One unit is furnished and prepared for Airbnb use. Interior improvements include refreshed kitchens, bathrooms, and flooring, along with impact-resistant PGT windows and doors. The 4,219-square-foot property also includes balconies, a barbecue area, fencing, lighting, tile flooring, central heating, and central air conditioning.
Located at 1305 SE 1st St in Fort Lauderdale, the property is near Las Olas Boulevard and Fort Lauderdale Beach. Each floor has a washer and dryer set, while parking is available on-site and along the street. Additional property updates include a 2022 roof, 2021 HVAC systems, a 2022 10-year building safety certification, and a 2025 tankless water heater. Public water and sewer serve the property.
Located at 1305 SE 1st St in Fort Lauderdale, the property is near Las Olas Boulevard and Fort Lauderdale Beach. Each floor has a washer and dryer set, while parking is available on-site and along the street. Additional property updates include a 2022 roof, 2021 HVAC systems, a 2022 10-year building safety certification, and a 2025 tankless water heater. Public water and sewer serve the property.
Key Highlights
- Four 2BR/1BA units, including two with additional flex rooms
- 4,219‑square‑foot renovated fourplex at 1305 SE 1st St, Fort Lauderdale, FL 33301
- One furnished unit is Airbnb‑ready
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
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Current Use
Lease Details
4
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated residential units offer flexible layouts, on-site laundry, and parking near Las Olas Boulevard and Fort Lauderdale Beach.
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: Four 2BR/1BA units, including two with additional flex rooms; 4,219‑square‑foot renovated fourplex at 1305 SE 1st St, Fort Lauderdale, FL 33301; One furnished unit is Airbnb‑ready
