Updated Duplex with
New
For Sale
$530,000
1022 NW 6th Ave, Fort Lauderdale, FL 33311
Fully leased duplex featuring refreshed units and professional management for streamlined rental operations.
Property Size1,350 SF
Price / SF$392.59
Days on Market6
Property Features for 1022 NW 6th Ave
General Information
Standard status
Active
Size
1,350 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 2BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Parking per Unit
2
Additional Details
Gross Income
$35,400
Building Details
Year Built
1985
Buildings
1
Tenancy
Multi
Listing Agency:
VDV Property Solutions Corp
(786) 295-9145
Listed By:
Roel Van De Ven · License #3559281
Source:
Djandlindseyrealestate
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 29 at 6:22AM
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 VDV Property Solutions Corp
Investment Insights
Based on property information with market context.
Built in 1985, this duplex contains two updated residential units with a two-bedroom, two-bath layout in one unit and a two-bedroom, one-bath layout in the other. The property is fully leased and supported by professional management, with existing lease terms extending to July 2027 and September 2027.
Each unit includes two parking spaces, providing four spaces across the property. Located at 1022 NW 6th Avenue in Fort Lauderdale, the asset offers an established residential income configuration with updated interiors and on-site parking.
Each unit includes two parking spaces, providing four spaces across the property. Located at 1022 NW 6th Avenue in Fort Lauderdale, the asset offers an established residential income configuration with updated interiors and on-site parking.
Key Highlights
- Two‑unit duplex built in 1985
- Unit mix includes 2 Bed / 2 Bath and 2 Bed / 1 Bath layouts
- Both units are updated
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
$22,504
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
4.25%
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%
$450,080
$450.1K
Cap Rate 7%
$321,486
$321.5K
Cap Rate 9%
$250,044
$250.0K
Market Conditions
NOI Build-Up for 1,350 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
$34.0K $25.20/SF
− Vacancy
−$1.9K −$1.39/SF
EGI
$32.1K $23.81/SF
− OpEx
−$9.6K −$7.14/SF
NOI
$22.5K $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%
$450,080
Cap Rate 7%
$321,486
Cap Rate 9%
$250,044
Alternative Uses
Best Use
Multifamily LT 5
$321.5K
$281.3K – $375.1K
NOI $22,504 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$289.6K
$253.4K – $337.9K
NOI $20,272 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$907.2K
$793.8K – $1.06M
NOI $63,504 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,600
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?
Duplex - Fully leased duplex featuring refreshed units and professional management for streamlined rental operations.
Where is this duplex located?
The property is located at 1022 NW 6th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1985; Unit mix includes 2 Bed / 2 Bath and 2 Bed / 1 Bath layouts; Both units are updated
