Updated Four-Unit
For Sale
$825,000
535 NW 13th Avenue, Fort Lauderdale, FL 33311
Two adjoining duplex buildings offer renovated apartments, central A/C, and on-site parking in Fort Lauderdale.
Property Size2,334 SF
Price / SF$353.47
Days on Market11
Property Features for 535 NW 13th Avenue
General Information
Standard status
Active
Size
2,334 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
RS-8
Net Operating Income
$31,600
Financials
Asking Price
$825,000
Cap Rate
3.83%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,241
Building Details
Building Size
2,334 SF
Year Built
1978
Buildings
2
Stories
1
Listing Agency:
Trustpoint Realty, LLC.
(305) 200-0348
Listed By:
Joseph Suarez · License #A11905783
(305) 200-0348
Source:
Laerrealty
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 29 at 6:19AM
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 Trustpoint Realty, LLC.
Investment Insights
Based on property information with market context.
This four-unit quadplex consists of two side-by-side duplex buildings held on separate folios. Each apartment is configured with 2BR/1BA and features updated kitchens and bathrooms, central A/C, and access to six parking spaces. The property was built in 1978 and is zoned RS-8.
Three units are occupied and one is vacant, providing a current mix of leased and available apartments. The address is 535 NW 13th Avenue in Fort Lauderdale, within the 33311 submarket. Major roadways, shopping, dining, and employment areas are accessible from the property, supporting both residential occupancy and day-to-day convenience.
Three units are occupied and one is vacant, providing a current mix of leased and available apartments. The address is 535 NW 13th Avenue in Fort Lauderdale, within the 33311 submarket. Major roadways, shopping, dining, and employment areas are accessible from the property, supporting both residential occupancy and day-to-day convenience.
Key Highlights
- Four‑unit property comprising two side‑by‑side duplexes on two separate folios
- All four units are updated 2BR/1BA apartments with central A/C
- Six parking spaces included
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
$38,907
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
4.72%
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%
$778,140
$778.1K
Cap Rate 7%
$555,814
$555.8K
Cap Rate 9%
$432,300
$432.3K
Market Conditions
NOI Build-Up for 2,334 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
$58.8K $25.20/SF
− Vacancy
−$3.2K −$1.39/SF
EGI
$55.6K $23.81/SF
− OpEx
−$16.7K −$7.14/SF
NOI
$38.9K $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%
$778,140
Cap Rate 7%
$555,814
Cap Rate 9%
$432,300
Alternative Uses
Best Use
Multifamily LT 5
$555.8K
$486.3K – $648.5K
NOI $38,907 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$500.7K
$438.1K – $584.1K
NOI $35,048 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,791 @ 7.0% cap · market cap 13.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,653
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
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 - Two adjoining duplex buildings offer renovated apartments, central A/C, and on-site parking in Fort Lauderdale.
Where is this quadplex located?
The property is located at 535 NW 13th Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Four‑unit property comprising two side‑by‑side duplexes on two separate folios; All four units are updated 2BR/1BA apartments with central A/C; Six parking spaces included
