Remodeled 14-Unit Apartment
For Sale
$2,299,000
1301 Northeast 16th Terrace Unit 19 & 15, Fort Lauderdale, FL 33304
Three remodeled buildings feature equipped kitchens, central A/C, and on-site laundry facilities.
Property Size8,471 SF
Price / SF$271.40
Days on Market2330
Property Features for 1301 Northeast 16th Terrace Unit 19 & 15
General Information
Standard status
Active
Size
8,471 SF
Property subtype
Commercial/Industrial / Income/Multi Family
Taxes and HOA fees
Annual Taxes
$26,781
Building Details
Year Built
1949
Listing Agency:
Eastside Coast Properties LLC
Listed By:
Edgard Cuenca · License #3022890
(786) 942-1112
Source:
Compass
Added: Jun 5, 2020
Changed: Oct 14
Last Checked: Oct 20 at 11:08PM
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 Eastside Coast Properties LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property comprises 14 units across three buildings at 1301, 1305, and 1309 NE 16th Terrace. The units have been remodeled and include full kitchens and central A/C. An on-site laundry facility serves residents and provides an additional property feature.
The property is located in Fort Lauderdale north of Sunrise Boulevard and west of US-1, with proximity to the Downtown Financial District, Port Everglades, Fort Lauderdale-Hollywood International Airport, The Galleria Mall, and area beaches. Occupancy is reported at 100%. An assumable loan is also available, subject to its terms.
The property is located in Fort Lauderdale north of Sunrise Boulevard and west of US-1, with proximity to the Downtown Financial District, Port Everglades, Fort Lauderdale-Hollywood International Airport, The Galleria Mall, and area beaches. Occupancy is reported at 100%. An assumable loan is also available, subject to its terms.
Key Highlights
- 14 units arranged across 3 buildings
- Remodeled units with full kitchens and central A/C
- On‑site laundry facility for tenant use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$127,203
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,544,060
$2.5M
Cap Rate 7%
$1,817,186
$1.8M
Cap Rate 9%
$1,413,367
$1.4M
Market Conditions
NOI Build-Up for 8,471 SF
Gross rent
$244.0K $28.80/SF
− Vacancy
−$12.7K −$1.50/SF
EGI
$231.3K $27.30/SF
− OpEx
−$104.1K −$12.29/SF
NOI
$127.2K $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%
$2,544,060
Cap Rate 7%
$1,817,186
Cap Rate 9%
$1,413,367
Alternative Uses
Best Use
Apartment 5plus
$1.82M
$1.59M – $2.12M
NOI $127,203 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.69M
$4.98M – $6.64M
NOI $398,476 @ 7.0% cap · market cap 17.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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
Frequently Asked Questions
What type of property is this?
Apartment building - Three remodeled buildings feature equipped kitchens, central A/C, and on-site laundry facilities.
Where is this apartment building located?
The property is located at 1301 Northeast 16th Terrace Unit 19 & 15 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $2,299,000.
What are key features of this property?
This property features: 14 units arranged across 3 buildings; Remodeled units with full kitchens and central A/C; On‑site laundry facility for tenant use
