Four-Unit Residential
For Sale
$750,000
3821 SW 60TH Ave, Davie, FL 33314
The building contains two-bedroom apartments with month-to-month tenancy.
Property Size3,269 SF
Days on Market10
Property Features for 3821 SW 60TH Ave
General Information
Standard status
Active
Size
3,269 SF
Property subtype
Investment
Units
Unit Mix
2 x 2/1, 2 x 2/2
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$12,786
Building Details
Building Size
3,269 SF
Year Built
1971
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
WHEELER REALTY
(561) 676-2435
Listed By:
Christopher Wheeler Jr · License #R11166236
(561) 676-2435
Source:
Elliman
Added: Aug 21
Changed: Aug 24
Last Checked: Aug 29 at 2:22PM
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 WHEELER REALTY
Investment Insights
Based on property information with market context.
This four-unit residential property was constructed in 1971 and includes a balanced mix of two-bedroom apartments: two units with one bathroom and two units with two bathrooms. Current occupancy is on a month-to-month basis, providing flexible lease terms for the existing rental operation.
The property is located at 3821 SW 60th Ave in Davie, Florida, and is offered with the companion quadplex at 3811 SW 60th Ave, Units 1–4. The surrounding area records a Walk Score of 24, a Bike Score of 34, and a Transit Score of 30, reflecting a primarily car-oriented setting with some transit access.
The property is located at 3821 SW 60th Ave in Davie, Florida, and is offered with the companion quadplex at 3811 SW 60th Ave, Units 1–4. The surrounding area records a Walk Score of 24, a Bike Score of 34, and a Transit Score of 30, reflecting a primarily car-oriented setting with some transit access.
Key Highlights
- Two 2/1 units and two 2/2 units
- Four‑unit property constructed in 1971
- Month‑to‑month tenancy
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
$35,981
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
4.80%
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%
$719,620
$719.6K
Cap Rate 7%
$514,014
$514.0K
Cap Rate 9%
$399,789
$399.8K
Market Conditions
NOI Build-Up for 3,269 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
$53.0K $16.20/SF
− Vacancy
−$1.6K −$0.48/SF
EGI
$51.4K $15.72/SF
− OpEx
−$15.4K −$4.72/SF
NOI
$36.0K $11.01/SF
Area
Davie, FL
Vacancy
2.94%
Lease Rate
$16.20 /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%
$719,620
Cap Rate 7%
$514,014
Cap Rate 9%
$399,789
Alternative Uses
Best Use
Multifamily LT 5
$514.0K
$449.8K – $599.7K
NOI $35,981 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$474.9K
$415.5K – $554.0K
NOI $33,241 @ 7.0% cap · market cap 4.43%
Theoretical Best
Warehouse
$619.8K
$542.3K – $723.1K
NOI $43,385 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
993
Businesses Nearby
Explore this area
Business Placement
Demographics for 33314, FL
30,248
Population
12,041
Households
2.5
Avg Household Size
34
Median Age
30%
College-Educated
89%
High-School Grad
8.8 sq mi
ZIP Area
3,437
Density / Sq Mi
$63,791
Median Household Income
$36,733
Median Earnings
$2,034
Median Rent
$347,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - The building contains two-bedroom apartments with month-to-month tenancy.
Where is this quadplex located?
The property is located at 3821 SW 60TH Ave Davie, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two 2/1 units and two 2/2 units; Four‑unit property constructed in 1971; Month‑to‑month tenancy
