11-Unit Apartment
For Sale
$2,295,000
1325 /1329/1333 Ne 5th Terrace Unit 1, Fort Lauderdale, FL 33304
Fully occupied multifamily property comprising three buildings on a gated, fenced site in east Fort Lauderdale.
Property Size6,458 SF
Price / SF$355.37
Days on Market80
Property Features for 1325 /1329/1333 Ne 5th Terrace Unit 1
General Information
Standard status
Active
Size
6,458 SF
Occupancy
100%
Units
Unit Mix
9 x 1BR/1BA, 1 x 2BR/1BA, 1 x 2BR/2BA
Multifamily Units
11
Additional Details
Highway Access
Yes
Amenities
fenced and gated
Building Details
Year Built
1948
Buildings
3
Listing Agency:
Compass Florida, LLC
Listed By:
Richard N Salter · License #0703927
(954) 477-7332
Source:
Chenoregroup
Added: Jul 21
Changed: Sep 22
Last Checked: Oct 7 at 5:30PM
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 Compass Florida, LLC
Investment Insights
Based on property information with market context.
The Hemingway at Middle River Terrace comprises 11 apartment units across three separate buildings on a 6,458-square-foot site measuring just under 1/2 acre. The unit mix includes nine 1/1 apartments, one 2/1, and one 2/2. Constructed in 1948, the property includes a combination of renovated units and apartments updated within the last five years. New roofs serve all three buildings, while impact windows and doors are installed throughout. The grounds are enclosed by fencing and a gate.
The property is fully occupied and positioned in east Fort Lauderdale, with access to downtown, the airport, the port, and area highways. New residential construction is underway nearby, with additional development planned. Individual deeds are in place for the units, allowing the apartments to be sold separately as condominiums.
The property is fully occupied and positioned in east Fort Lauderdale, with access to downtown, the airport, the port, and area highways. New residential construction is underway nearby, with additional development planned. Individual deeds are in place for the units, allowing the apartments to be sold separately as condominiums.
Key Highlights
- 11‑unit apartment property with 9 1/1s, one 2/1, and one 2/2
- Three separate buildings on a site measuring just under 1/2 acre
- 6,458‑square‑foot property constructed in 1948
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,975
Cap Rate
4.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,939,500
$1.9M
Cap Rate 7%
$1,385,357
$1.4M
Cap Rate 9%
$1,077,500
$1.1M
Market Conditions
NOI Build-Up for 6,458 SF
Gross rent
$186.0K $28.80/SF
− Vacancy
−$9.7K −$1.50/SF
EGI
$176.3K $27.30/SF
− OpEx
−$79.3K −$12.29/SF
NOI
$97.0K $15.02/SF
Area
Fort Lauderdale, FL
Vacancy
5.20%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,939,500
Cap Rate 7%
$1,385,357
Cap Rate 9%
$1,077,500
Alternative Uses
Best Use
Apartment 5plus
$1.39M
$1.21M – $1.62M
NOI $96,975 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.34M
$3.80M – $5.06M
NOI $303,784 @ 7.0% cap · market cap 13.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
11
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,920
Businesses Nearby
Explore this area
Business Placement
Demographics for 33304, FL
19,978
Population
12,367
Households
1.6
Avg Household Size
46
Median Age
51%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
6,445
Density / Sq Mi
$84,951
Median Household Income
$55,527
Median Earnings
$1,727
Median Rent
$556,400
Median Home Value
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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?
Apartment building - Fully occupied multifamily property comprising three buildings on a gated, fenced site in east Fort Lauderdale.
Where is this apartment building located?
The property is located at 1325 /1329/1333 Ne 5th Terrace Unit 1 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: 11‑unit apartment property with 9 1/1s, one 2/1, and one 2/2; Three separate buildings on a site measuring just under 1/2 acre; 6,458‑square‑foot property constructed in 1948
