Four-Unit
For Sale
$750,000
3811 SW 60TH Ave 1-4, Davie, FL 33314
Fully leased residential property with a balanced mix of two-bedroom units and month-to-month occupancy.
Property Size3,269 SF
Days on Market10
Property Features for 3811 SW 60TH Ave 1-4
General Information
Standard status
Active
Size
3,269 SF
Property subtype
Investment
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$12,464
Building Details
Building Size
3,269 SF
Year Built
1971
Buildings
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 22
Last Checked: Aug 29 at 1:21PM
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 is currently fully leased. The unit mix includes two 2/1 residences and two 2/2 residences, providing consistent two-bedroom layouts across the building. Each tenancy is structured on a month-to-month basis.
The property is located at 3811 SW 60th Ave 1-4 in Davie, Florida. A companion quadplex at 3821 SW 60th Ave 1-4 is also offered, creating the possibility of acquiring both properties together. Walk Score is 24, Bike Score is 34, and Transit Score is 30.
The property is located at 3811 SW 60th Ave 1-4 in Davie, Florida. A companion quadplex at 3821 SW 60th Ave 1-4 is also offered, creating the possibility of acquiring both properties together. Walk Score is 24, Bike Score is 34, and Transit Score is 30.
Key Highlights
- Four‑unit quadplex constructed in 1971
- Unit mix includes two 2/1 units and two 2/2 units
- Fully leased with all tenants on month‑to‑month leases
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
Current Use
Lease Details
8
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased residential property with a balanced mix of two-bedroom units and month-to-month occupancy.
Where is this quadplex located?
The property is located at 3811 SW 60TH Ave 1-4 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: Four‑unit quadplex constructed in 1971; Unit mix includes two 2/1 units and two 2/2 units; Fully leased with all tenants on month‑to‑month leases
