Single-Story Quadplex with Solar
For Sale
$1,000,000
1329 NE 17th Ave, Fort Lauderdale, FL 33304
The four-unit layout combines one- and two-bedroom residences with laundry, wall AC, solar panels, and paved parking.
Property Size2,932 SF
Lot Size0.16 Acres
Price / SF$341.06
Days on Market53
Property Features for 1329 NE 17th Ave
General Information
Standard status
Active
Size
2,932 SF
Lot size
0.16 Acres
Property subtype
Multifamily
Zoning
RC-15
Financials
Asking Price
$1,000,000
Cap Rate
4.41%
Units
Unit Mix
3 x 1BR/1BA, 1 x 2BR/2BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Amenities
on-site laundry
solar panels
wall air-conditioning units
paved asphalt parking
Four-unit Fort Lauderdale asset offered at $1,000,000 or $250,000 per unit.
RC-15 zoned property with solar panels, on-site laundry, metal roof, and paved parking.
Minutes from Holiday Park, The Galleria, beaches, Brightline, Downtown Fort Lauderdale, Port Everglades, and FLL Airport.
Building Details
Building Size
2,932 SF
Year Built
1964
Buildings
1
Stories
1
Units
4
Construction
concrete block
Listing Agency:
Marcus & Millichap - Fort Lauderdale
(954) 245-3492
Listed By:
Joseph P. Thomas · License #License(s): FL: SL3174354
(954) 245-3492
Source:
Marcusmillichap
Added: Jul 9
Changed: Aug 29
Last Checked: Aug 29 at 1:09PM
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 Marcus & Millichap - Fort Lauderdale
Investment Insights
Based on property information with market context.
This single-story quadplex consists of a concrete block building with a painted stucco exterior and metal roof. Built in 1964, the property contains 2,932 square feet of gross building area on a 6,754-square-foot lot, or 0.16 acres. The unit mix includes three one-bedroom, one-bathroom apartments and one two-bedroom, two-bathroom apartment. On-site laundry, solar panels, wall air-conditioning units, and paved asphalt parking are included. The property is zoned RC-15.
Located in Fort Lauderdale, the property provides access to NE 13th Street, Federal Highway (US-1), and Sunrise Boulevard. Nearby points of interest include Holiday Park, the Broward County Convention Center, Downtown Fort Lauderdale, and Fort Lauderdale-Hollywood International Airport. Retail and services in the surrounding area include Publix, Walgreens, Home Depot, TD Bank, and other neighborhood businesses. Educational facilities nearby include Sunrise Middle School and Bennett Elementary School.
Located in Fort Lauderdale, the property provides access to NE 13th Street, Federal Highway (US-1), and Sunrise Boulevard. Nearby points of interest include Holiday Park, the Broward County Convention Center, Downtown Fort Lauderdale, and Fort Lauderdale-Hollywood International Airport. Retail and services in the surrounding area include Publix, Walgreens, Home Depot, TD Bank, and other neighborhood businesses. Educational facilities nearby include Sunrise Middle School and Bennett Elementary School.
Key Highlights
- Four‑unit apartment building with 2,932 square feet of gross building area
- Unit mix includes 3 one‑bedroom/one‑bathroom units and 1 two‑bedroom/two‑bathroom unit
- Built in 1964; single‑story concrete block construction with painted stucco and metal roof
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
$48,876
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
4.89%
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%
$977,520
$977.5K
Cap Rate 7%
$698,229
$698.2K
Cap Rate 9%
$543,067
$543.1K
Market Conditions
NOI Build-Up for 2,932 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
$73.9K $25.20/SF
− Vacancy
−$4.1K −$1.39/SF
EGI
$69.8K $23.81/SF
− OpEx
−$20.9K −$7.14/SF
NOI
$48.9K $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%
$977,520
Cap Rate 7%
$698,229
Cap Rate 9%
$543,067
Alternative Uses
Best Use
Multifamily LT 5
$698.2K
$611.0K – $814.6K
NOI $48,876 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$629.0K
$550.4K – $733.8K
NOI $44,028 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$1.97M
$1.72M – $2.30M
NOI $137,921 @ 7.0% cap · market cap 13.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,441
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
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 - The four-unit layout combines one- and two-bedroom residences with laundry, wall AC, solar panels, and paved parking.
Where is this quadplex located?
The property is located at 1329 NE 17th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Four‑unit apartment building with 2,932 square feet of gross building area; Unit mix includes 3 one‑bedroom/one‑bathroom units and 1 two‑bedroom/two‑bathroom unit; Built in 1964; single‑story concrete block construction with painted stucco and metal roof
